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Easily one of the most time consuming and labour-intensive tasks is debt collection. Many times, debtors don’t take calls seriously unless they are coming from a debt collection agency or attorney.
When we talk about a debt collection period, we are referring to the amount of time on average that it takes for a business to collect its debts.
If a business has an increased collection period, it can become a major financial liability and focus should be directed at improving it.
However, small businesses often do not have the resources necessary to spend time and energy solely on collecting debts.
As one of the many debt collection agencies in South Africa, we are aware of the economic struggles of the country and how they can bring financial challenges into the lives of even the most successful businessmen and women.
This often leads businesses as well as private individuals down the path of unmanageable debt which.
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