The ability of a business to control debt is an essential aspect of debt management. When clients refuse to pay their mortgages or make late payments, it can be very detrimental to a profitable organization. Although banks and a few other financial organizations seem to have made the process of debt collection a bit easier, other businesses are usually left alone in finding effective methods for debt recovery. Debt collection agencies today typically charge a
A business is not the same without credit controllers because they have a significant role to play. Great credit controllers are particularly hard to find. Trying to recover unpaid funds from businesses or individuals is not an easy feat. It requires a host of skills, which are usually hard to teach or pass on. Late payment is a nagging problem for businesses because it leads to strain on their cash flows. To that effect, it
Dealing with slow-to-pay or don’t pay customers can be a real headache, especially for the small businesses. Customers with a slow-to-pay problem can affect the business’ cash flow, detract from the primary goal and distract from essential business matters. Moreover, if a company has several slow-to-pay customers, then chances are the business could confront financial problems and risk missing critical payments for payroll. So this role us to the question what are the best debt
