Debt Recovery Tips:
 
At what stage does an outstanding invoice become a debt ?

60 days overdue should be considered as debt recovery

Up to 60 days, your contact with the debtor must be frequent and effective

At 60 days look for the profitable solution, creditor or debtor can initiate profitable solutions

Make it your business to know the debtor's true financial position

Do not set internal debt recovery budgets expand and improve your debt recovery action to be effective & efficient

Set budgets for outside services: solicitor and debt agency

Successful Debt Recovery depends on having good information about your customer: use an application form

TALK to your customer at least once before going to court

Get one of your staff on a Debt Recovery course

Do not ignore the warning signs of impending debt