DEBT COLLECTION
Debt Collection is a process looked after by professionals, where it involves recovery of long due unpaid debts that are certainly standing on to eventually become a bad debt or already considered as a bad debt.
You signed up a customer who agreed on a service and signed the contract. Accordingly, you provide them with your service or product and issue an invoice for the same. Now, you are waiting for the customer to pay your invoice but even after the credit period is over, you see the customer fails to settle the invoice and now you realize that the customer is making false promises and avoiding payment, eventually not willing to pay.
In this case, you would take your precious time out of your core business activities to chase that customer to get your invoice settled. But chasing a customer is not something every business owner/manager has expertise in and eventually could cost them more than they think.... Read More