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

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

Collecting Overdue Debt: A Course of Action

Collecting Overdue Debt: a Course oF Action

“If you are a business owner, you will likely encounter overdue debt on a very routine basis. A huge number of customers – both individuals and other businesses – will inevitably forget, not bother, or refuse to pay their bills.

It’s easy enough to deal with the forgetful procrastinators with a couple of firmly worded overdue notices, but for those who still don’t pay, there is a time to turn things over to a debt collection agency.

When it becomes clear that a customer doesn’t intend to pay you out of their own free will, turning things over to another party probably isn’t a bad idea. For example, customers that flatly deny owing you money despite your records are very difficult to deal with without help. Continue reading