Some Interesting Facts in Debt Collecting

“The best way to learn facts is by failing” – unknown 

If you are doing your own business debt collecting, you might be surprised to learn the following facts from the inside debt collecting industry.

  • 20% of your clients/customers  make 80% of your debt collections – this is a well known Pareto Principle.
  • As a creditor, SMS text messages are the preferred way of cash collecting. Continue reading

Debt Collecting – Frequently Asked Questions & Answers (Part 2)

“To always develop and grow, I’m always asking questions.” 

 

Q Why would my small business need a Credit Control System, when my business turnover is not very big, Isn’t this kind of professional approach only for much bigger businesses?

 

A A properly defined , developed and implemented Credit Control System in any business, regardless of the size of the business turnover, would actually help your business grow faster. Continue reading