Hello to the Forum with some free tips on how to avoid bad debts

By : Business Owner
Published 15th December 2016 |
Read latest comment - 23rd December 2016

Hello

 Here at AVC Debt Recovery we advise all our clients that prevention is better than collection, even if total prevention means we will effectively be out of business. Whilst nothing can prevent a common cold or a bad payer here are our top tips.

1. Agree what is agreed at point of deal. Agree what you will provide, when and for how much.

2. Confirm it in writing, even a simple email is a powerful contract.

3. Don’t let the euphoria of sale blind you to the basic fact that it is not a great sale until the money is in your account.

4. Know your customer before you extend them credit - credit checking is often looked upon as a cost, but can be a sound investment even if the credit check precludes a sale.

5. Never be frightened to ask how you are going to get paid, who is going to pay you and any specifics required for you to get paid OTIF.

6. Always send over a set of Terms and Conditions when you confirm any sale. Invoice and deal with any disputes promptly.

7.  Have in place commercials that tie in with your Ts & Cs and execute a clear and concise credit control policy.

8.  Chase for so long then know when to pass the outstanding amount (debt) to a professional debt collection company.

If you are experiencing any issues with late payments and are worried that a later payer may turn into a bad debt please call us for a no obligation consultation with a debt recovery expert.

 AVCDebt Recovery 

 

 


Thanks,
Debt Recovery for Business
AVC Debt Recovery
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Comments

Hello, Welcome to the forums


Thanks,
Rachael Kennedy | MLS Marketing Team

Some useful tips., welcome aboard & Happy Christmas.


Angela - My views & opinions are my own
Marketing Manager | Edinburgh Trusted Trader

Welcome to the forum! Very good tips!!! What is the debt collection method you think is the most successful one?


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The Legal Stop | www.thelegalstop.co.uk

It is important to ascertain how you are going to get paid at point of sale.


Thanks,
Debt Recovery for Business
AVC Debt Recovery

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