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Managing client relationships is crucial for the financial health of any business. It’s important to recognize the signs that a client might become a debtor. Here are four red flags to watch out for, along with recommendations on how to handle these situations effectively.
Debt collection agencies in South Africa are now turning towards innovative digital channels and automation tools to streamline their operations, aiming for efficiency and effectiveness. This shift not only promises higher collection rates but also marks a significant leap in enhancing customer satisfaction.
When an account remains unpaid for an extended period, several consequences unfold, impacting both the debtor and the creditor. For the creditor, the unrecovered debt translates into a financial loss, affecting cash flow and potentially hindering operational capabilities.
As the landscape of debt collection continues to evolve, the role of a debt collection agency in South Africa becomes pivotal in bridging the gap between creditors and their debtors. One such approach that has garnered attention and appreciation is the rehabilitation of bad debtors.
A difficult debtor is an individual who is unresponsive, uncooperative, or even hostile when it comes to discussing their outstanding debts. They may avoid your calls or messages, ignore your emails, or simply refuse to acknowledge that they owe you money.
Even in cases where debtors are in hiding - debt collection is possible.
With over 53 years of experience as Debt Collectors in South Africa, our team has gained extensive experience in debt collection and the many processes involved in successfully collecting debt.
Able Tracers and Debt Collectors has established itself as one of South Africa’s most successful debt collection agencies.
Over the years, we have developed a capacity to turn bad debt into profits allowing us to facilitate the entire debt collection process, including purchasing debtor’s books.
There are hundreds of debt collectors in South Africa - each with their own unique debt collection service offering. However, with so many collection agencies out there, it can become quite challenging to choose which agency to use.
There are several important questions that must be asked when picking a collection agency. To save you some time (and money), we have listed them below.
The following excuses are indications of serious cash flow problems and are good reasons to hand over earlier than the prescribed 90 days
Make the following business practices standard operating procedure in your business and you will be surprised at how much better you can manage, prevent and recover bad debt.
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