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How to Prevent Bad Debts in 2023. Tips from a Debt Collector

Debt Recoveries

The client might not have the cash on hand to pay right away (this is a concern in the construction sector where milestone payments are typical or in the rural / farming sector where income is dependant on seasonal crop harvesting). . Have the right to retrieve the products if “perfected” the security but did not get paid.

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Credit Card on File is a Game-Changer for Businesses

PDC Flow

A secure method of storing card data - the processes for storing and retrieving data need to be secure, heavily monitored and reliable. Permission from the consumer - any time you collect and store customer payment details, they need to know that is how your system operates, and must agree to this process.