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►        Employing an agency that “Guarantees” to collect your money.

This will usually result in you paying an upfront fee that

will never be seen again

 

►        Assuming “Everything will be alright”

            Be on top of your collections

 

►        Assuming aggression will get your money paid

            More likely to lead to confrontation and a long wait to be paid

 

►        Immediately reverting to court action

            Remember this fact: A CCJ is no guarantee of payment

 

►        Ignoring your debtor’s problem

Your client may just have a small issue. Don’t be scared to find out what the problem is.

 

►        Horses for courses

            Often the worst person to make a chasing call is the Boss.

 

►        Fail to Prepare, Prepare to fail

Communicate your credit terms at the point of sale. If you don’t, you are leaving it to chance. Not a good idea.

 

►        Don’t let a current debt become a write off.

The only difference between a new debt and a write off, is…time (6-10 months on average)

 

►        Organ grinders & monkeys

Don’t fool yourself with the easy option. Chase your money with the person that holds the purse strings

 

►        The last is actually a bit of advice…Get the experts in to do the job!

 

I’ll leave you with a quote

 

 

This entry was posted on Friday, September 19th, 2008 at 4:25 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.