Outstanding debt means the money due to debtors, which remain unpaid for a long time either because they are facing significant financial hardship or taking the matter leniently because they have no intention to pay back. Debt collection is a challenging task and the most crucial aspect of the business landscape. When invoices aren’t [...]
Collecting payment for the products or services you render is an essential key to keep your business afloat. But at the same time, not all customers are reliable and easy to deal with. Have you ever had to deal with stubborn customers who are not ready to pay back? If yes, this is [...]
How to Optimize Collections during this Pandemic Coronavirus is a disease that hit the entire World from November 2019 starting from China, and it spread fast to the entire world. The pandemic brought an economic crisis due to the lockdown measures that prompted everyone to stay at the home part from the essential services. The [...]
Hospitals do engage debt collectors to recover these uncollected monies which are public funds. Everyone is doing their job. There is a system in place to catch these who take advantage of public funds. Generally, hospitals take the following approach to recover outstanding hospital bills. Within 10 days after discharge, patients should receive their final [...]
We have high moral and professional standard in our business. However, there are still some companies or individuals who claim themselves as debt collectors. Singapore debt collection services is in a stage where government regulation is building up soon so as to deal with collectors that may have the incentives to engage in improper activities, [...]
1. Resolute Debt Recovery delivers superior collection services because it knows the value of fair debt collection practices—their value to maintaining our reputation for excellence and professionalism and the health of your business relations and therefore your bottom line. We are one of the premier in Singapore using ‘soft but firm’ approach to debt collection, [...]
Sometimes business owners in Singaporeg are faced with the unpleasant situation of not receiving their due payments for the performed services. While clients may struggle financially or may have other reasons to avoid payments, the most common way to deal with unpaid invoices is to request the services of a professional debt recovery agency in [...]
Debt recovery procedure These steps can be used as an escalation process to contact your customers about an outstanding payment from friendly reminder through to letter of demand and bad debt collection. 1. Contact with a friendly payment reminder Once the payment is overdue, phone, email or mail the customer with a courtesy reminder. The [...]
A cash flow forecast is the most important business tool for every business. The forecast will tell you if your business will have enough cash to run the business or pay to expand it. It will also show you when more cash is going out of the business, than in. The easiest way to prepare [...]
