Want to know how to improve cash flow? One way is by improving the way you manage your debtors. Try these tips to convince your debtors to pay you on time and safeguard your business' cash flow.
Has your ex (Customer) got you in “the Funk”? – A light-hearted guide to recovering from debtor breakup
What do you do when a customer lets you down? In our last article, we explored what happens when you have the “Feels” for a Customer and how to avoid debtor heartbreak (check it out here). The “Funk” is that ensuing feeling you get when you realise the Customer you have supported, fought for, gone […]
Don't let a debtor break your heart. In this guest post from Ledlin Lawyers, you'll learn the five signs that will help you stay ahead of bad debt and ensure you get paid.
Collecting your debts whilst maintaining your relationships with your debtors is possible. Learn how to improve the efficiency of your debt collection processes without burning any bridges.
This article will focus on the best internal collection practices for your small business. This article assumes your business already has a credit policy in place and a collection policy in place. Also keep in mind that this article is focused on commercial as opposed to consumer collection matters although there are similarities between the […]
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 […]
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 […]
There’s no need to write off the debts of a missing debtor Getting a debtor to pay a delinquent account can be tricky, especially if they’ve left town with no forwarding address. 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 […]
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.