Archive for September 26, 2013

Empower Your Organization to Prevent Bad Debt!

Written by Courtney. Posted in Bad credit people, Customer research, Getting customers to pay

Personal debt recovery

Preventing bad debt is not an easy task for small businesses. The majority of companies have a bad debt budgetary reserve that is kept with the expectation that a tiny percentage of customers will not pay them in full. Even so, bad debt, uncollectable debt, and willful non payment can interfere with growth and profitability. Preventing bad debt, that is, the kind of debt resulting from a credit sale that the creditor is incapable of collecting, is not something small businesses can easily do solo. One reason for this is that it is nearly impossible to tell who are the good customers vs bad customers until multiple notices demanding payment have been sent and ignored. Hindsight is 20 20! Trying to get rid of bad debt can be challenging and time consuming, which is why working with a business debt recov