Debt Recovery – Benefits of Outsourcing Professionals

“I must govern the clock, not be governed by it. ” – Golda Meir 

 

Why chase bad debts yourself when you can have a debt management expert doing the work for you?  These days, outsourcing debt collecting professional can solve many problems in your credit system and will save you time and money short term. Long term – you’ll gain faster payments, reduce your arrears and free up staff resources for more immediate business development.

Debt collection is an important function of any business as it maintains the life line of all businesses – cash flow.  We all know; no cash flow – no business! The fact is that debt collecting involves work that is challenging, very specific, detailed and time consuming. Continue reading

Easy Personal Debt Management Tips

‘Do not wait; the time will never be ‘just right.’ Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along.’ – Napoleon Hill

There is no better time to crash change your financial philosophy and habits, than when you are already in debt.  For some reason, a real crisis is the best push to motivate us to change our old ways and habits to avoid the same pain.

Continue reading

Debt – Fastest Way To Get Out Of Debt – Attitude!

“Don’t be afraid to give your best to what seemingly are small jobs. Every time you conquer one it makes you that much stronger. If you do the little jobs well, the big ones will tend to take care of themselves.” – Dale Carnegie 

Are you searching how to solve your debt problems?  By now I guess, you are startin to realise that your debt problems are connected to your other problems?  … The common thing in all that is … YOU!

The secret in overcoming any obstacle is in the right mindset and attitude.  I would like to share below some of the beautiful and empowering quotes that I find inspirational when I am facing big challenges.  I hope they inspire and empower you too! Continue reading

Debt Collections – How To Get Customers To Pay up (Part 2)

“Customer service is not a department, it’s an attitude!” – Unknown

This is the 2nd part of the article, read our first blog post as an introduction…

A good debt collector knows that the “Carrot and Stick” approach also works with customers.  So, how does this technique work in debt collecting?

The previous post was about the “Carrot”.

Now, the “Stick”: Continue reading

How To Not Collect a Debt (Part 2)

“I like to do all the talking myself. It saves time, and prevents arguments.” – Oscar Wilde

” A foolish man tells a woman to stop talking, but a wise man tells her that her mouth is extremely beautiful when her lips are closed” – unknown 

The video in the previous post is funny, as it teaches a crash course on How not to talk in a debt collecting call. 

When making a call, do you make note of the following;

  • The tone of your voice?
  • The  knowledge of the actual debt?
  • The answers given following the client’s comments? Continue reading

Debt Collecting – Secrets of Successful In House Collecting Reviled

Facing Bad Debt In Your Business? Problems collecting your bad debt – Fast & Easy way to collect it Now! Collecting Your Own Bad Debt Is Possible… Learn inside knowledge to To Stop Bad Debt!

debt collecting

“A COMPLETE Step-by-Step GUIDE To SUCCESSFUL In House Debt Collection!” is an e-book aimed at every business owner who extends credit terms, accepts cheques, and has money owed to them from slow-paying and non-paying customers. Since every business owner experiences delinquencies, non-payment and bad debt at some point, this means that every business can benefit from this great pool of inside secrets in debt collecting. An absolute MUST for everyone with a running business, even if their receivables are not in trouble.  This book is packed with insights and great tips on how to improve your collection system.

Cash Collecting – Electronic VS Standard Invoicing

Should your business cash collecting be evolving and changing with the technology? 

In today’s world when everything is becoming virtual overnight, cash collecting has been also moving towards full automation and paperless existence.

Research by leading IT analysts has found that companies with the fastest-growing profits in their industry sectors are the ones that are changing their document processes and automating them.  Businesses with effective document processes in their billings and cash collecting are more likely to experience profit growth and shortening of payment cycle. Continue reading

Q & A: How to Organise an Effective Debt Repayment Plan?

At some point, most businesses will come to the stage in debt collecting that a debt could be collected only by accepting installment payments.

If you are serious about collecting your debt, you need to re-negotiate the payment agreement and set up a valid debt repayment plan.

Many people asked me about the essentials of a good debt repayment plan. Continue reading

Small Business Bad Debt is Easily Avoidable

Seven Steps for Effective Cash Management for Your Business

Did you know that 85% of new small businesses close down in the first year of operation!

According to a report conducted in an issue of USA Today, the statistical failure rate of small businesses in America is staggering.

  • In First year of business 85% of small businesses close
  • Second year statistic is 70%.
  • Third year in business shows a small improvement in staying power; 62% of businesses will stop working by now Continue reading

Debt Collecting Fun!

We would like to share this You Tube recording of a real conversation of someone being contacted by a Debt Collection Agency to pay an outstanding debt.

This video post  is fun to listen to, but it is not fun for any of the speakers involved.

httpv://www.youtube.com/watch?v=17bgFK6nRzg

Debt is NO fun!  It is not fun for a debt collector who is just doing his job, and it certainly is not fun for a debtor who has been chased to pay.  There are no winners and losers when it comes to dealing with debt.

Any money dealings could get emotional and out of hand.  There is another angle in this scenario:  The privacy of information.  To find out more about other issues related to debt,  go to http://getoutofdebtfree.org

Do you have your own personal story with debt?  Did you encounter any extreme experiences dealing with debt?

We would love to share your experiences, concerns and questions.

Please feel free to make comments and submit them to us to share.

Easy Debt Collecting