The Psychology of Commercial Debt Recovery – Part One

Stevens Lloyd

In our twenty plus years in the commercial debt recovery business, we’ve observed a universal fear among people in business: They want the money they’ve earned but they’re deeply afraid to press too hard lest they upset customers who not only might not pay but could also take their business elsewhere. Credit managers also seek excellent legal forms and information. How do you get sales and credit working together? Commercial Debt Collection

Sell More to Offset Bad Debt?

Receivables Control

How many more sales must you generate to offset bad debt? You may think twice about your credit policy if your sales team is chasing poor credit risks in a volatile economic environment. We wanted to provide you information and a helpful tool to quantify the impact of bad debt and the sales volume necessary to offset it. The Real Cost of Bad Debt. There are additional negative consequences resulting from high levels of bad debt. Recovery Assistance.

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Why Use A Debt Collector?

Debt Recoveries

So why use a debt collector instead of doing it yourself? Here’s why: Quick action results in a higher recovery rate. Wait a year and the recovery rate further drops to about 15%.So If you need assistance with you debt collection, you can contact us.

Debt Collection Email Templates To Help You Collect Debts Faster

Debt Recoveries

Let’s face it, snail mail is dead, so your internal debt collection processes should start with some good debt collection email templates. So here are 3 debt collection templates that are guaranteed to get your customer to sit up and take notice: 1.

COVID Collections: Why Now Could Be the Time for Your Healthcare Organization to Make a Change

Credit Management Company

While it may seem counterintuitive at first glance, all of these factors (and more), prove that now is the perfect time to examine your organization’s debt recovery strategy and maybe make a few changes. Debt collection is hard on a good day. Bad Debt Pandemic Collections

10 Credit Control Tasks You Can Do Before Outsourcing to Your Debt Collector

Debt Recoveries

The COVID-19 has taken the world by surprise and we at Debt Recoveries Australia and ADC Legal wanted to share some our top 10 credit control tasks you can complete before you send the debt to a debt collector. Follow this guide and set yourself up with a reputable debt recovery agent now, and have yourself prepared for business post COVID-19. Do a full credit check on your prospective customer. Have a credit policy and stick to it.

Cash before breakfast | Why Cash Allocation is the top priority in your order-to-cash process.

On Guard

The cradle-to-grave order in which they should be prioritised is debatable but typically it might be as follows; Risk Management – Assessing the potential bad debt risk of customers before you accept any orders based either on historical internal data or via external credit risk agencies or a combination of multiple (big) data sources. Credit Management – The day-to-day process of chasing due debt via dunning, disputes and customer relationship management tools.