If you are a business that operates on credit terms it is likely that at some stage you will need to deal with a customer who cannot, or will not, pay their fees.
Debt collecting is not a favorite part of anyone’s job. Particularly when you or your staff deal with these clients on a day-to-day basis, it can be awkward to be ringing them asking for money.
Overdue Accounts Are Not Personal
You need to remember that you have a business to run. If someone does not pay, do not take this personally.
Implement a System
As debt collection lawyers in Sydney, we advise you to have a client contract signed by your clients, particularly new clients. This will include terms of payment, interest rates payable if the debt becomes overdue, and discounts for early payment if applicable. Include a clause that states that the client will pay debt recovery costs.
Chase Debts Promptly
Set up an automated system where receivable staff phone accounts and email clients regarding outstanding invoices as soon as they become due.
Hand the Debt to Debt Collection Lawyers in Sydney
Debt collection in-house can take time. Clients may promise to pay but then not deliver on their promises. You need to let them know you are serious about recovering the outstanding debt by referring their invoice to our debt collectors in Sydney.
Client’s React Quickly When Contacted by Solicitors
When a debt is referred to our debt collection lawyers in Sydney, clients know that you are determined to receive payment for services. The fact that they may be taken to court and will incur fees usually sees clients settle accounts swiftly.
Your debtors will be dealing with a neutral third party when you hire us as your debt collectors in Sydney. This makes the process less personal and leaves you and your staff with more time to deal with the other aspects of running a successful business.