Debt Recovery: Sly foxes ( Video)

be careful of some of your customers. They may be sly foxes

Tips : Strategies To Reduce  Debts

1.Focus in collectable & big customers

2.Know your positions ( terms of contracts) for negotiation or suing purposes

3.Do you practices 7cs? ( credit analysis) front end

4.Last resort, outsource ( debt collectors) or insource ( staff incentives)

5.CTOS ( after failure in outsourcing or suing)

6.Restructuring or rehabilitation

7.Write off debts ( after 1 year & totally uncollectable) claim GST bad debt relief & specific bad debt tax deductible

8.Focus on reliable sources of funds ( energy exposed to >1 acct) transfer bad acct to good acct . Awaiting feedback

9.Protection your assets( deposit, prepayments, trade insurance, BG, )

10.BG will be double for problematic customers

Debt Recovery : Negotiation Tactics (Video)

Debt Recovery: Flow along with your customers (Video)

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