23:35
Unknown
Though Debt collection isn’t the most
attractive task for business owners, but it’s necessary for keeping a
healthy cash flow. Every business is owed money at some point, but what
do you do if the debtor decides not to pay up? Debt collection is the
art of getting your invoices paid, and, more so, getting them paid on
time.
An
increasing number of small and medium sized businesses are finding late
payment and bad debts to be a serious problem. A survey by Altradius
has shown that bad debt is now a problem for over 20% of SME’s; while a
third are also suffering because of late payment.
Debt
collectors are people, other than the creditors, who regularly collect
debts owed to others and/or are contracted by creditors to collect
debts. This would include attorneys who regularly...
