Debt collection prior to Christmas

The Christmas and New year period can be one of the toughest for small businesses and in most cases many businesses don’t re-open the doors after the Holidays. One of the main reasons for this is that businesses struggle with collection of aged and bad debts. The period up to Christmas can be some of the best times to get your accounts back into order, especially with aged accounts, if your customers can see that you are proactively chasing these amounts they are more likely to get these back on track before the Christmas rush.

We recently commenced a process which resulted in recovery of 25% of the outstanding accounts for a client, and further undertaking of another 25% of aged account, a 50% recovery from one letter being provided to each outstanding debtor. This was achieved in a ten day process from the sending of the first letter. For this business this is the difference between remaining in business in the New Year or closing the doors.

We find a lot of a reluctance to pursuit customers through formal collections, unfortunately this can mean that by the time that the business is in trouble it is too late to call in debts, the longer you leave it, the harder it gets.

Call us today to discuss your debt collection needs, we have tailored packages which can assist businesses with immediately problems and can also assist in developing debtor management systems for the future, reducing your risk and ensuring that your debtors are under control.

Speak with Jeff or MaryAnn today to arrange a consultation on 1300 ADS LAW