Is it time to outsource your debt collection? Growing debt levels, rising bankruptcy rates and positive industry reform stemming from revised debt collection guidelines issued last year have led many Australian businesses to seek professional help in recovering their customer debts. If you’ve never outsourced your business’ debt collections before, it can be daunting knowing […]
We all know that cash is king, or rather – cash flow. In today’s volatile economic climate it’s more important than ever to have a good handle on your company finances. Without appropriate systems and processes to maintain positive cash flow, finances can quickly spiral beyond control. Why money really matters Cash flow is the […]
It sounds simple, right? Pick up the phone, ring your customer and let them know you’re expecting them to settle their overdue account. Unfortunately, it’s not always easy. If you haven’t prepared, the call can quickly take a wrong turn. Or, an emotional reaction from the recipient can easily throw you off your game. Here […]
Getting a debtor to pay a delinquent account can be tricky, especially if they’ve left town with no forwarding address. There’s no need to write off the debts of a missing debtor. Often you can track them down as long as you know where to look. What is skip tracing? If you’re not familiar with […]
‘Cynical’, ‘unconscionable’ and ‘clearly unfair’ are words most business owners never want to hear. When a federal court justice uses these very terms to describe your debt collection activity, chances are it’s going to be coupled with a hefty fine that could financially cripple your business and the individuals involved in it. A recent action […]
Struggling to recover debt from your Gen Y customers? If you understand their spending attitudes, you can work on planning to help motivate them to pay.
Most businesses have to chase debtors at one time or another, so a debt collection strategy will go a long way in helping to recover monies owed.