What is debt Recovery? Debt recovery is the process of collecting money owed by way of a legal process. It is usually the last resort after all the other collection efforts fail. Each process is unique, depending on the situation at hand. However, there are those common steps that you go through in every debt [...]
For every business, the effective management of working capital or cash flow is necessary as it is an important metric in determining the business's long-term financial health. Without adequate capital, it’s hard to run a business. In fact, the COVID-19 outbreak has raised several working capital challenges; the changes in customer demand & delay in [...]
If you own a business, you would adopt any possible thing to keep it afloat. One vital decision that most business owners need to make is hiring a debt collection agency. Yes! It’s true that not all customers pay their debts on time, and as a result, you have to make them frequent phone calls [...]
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 [...]
