Make Money from Bad Debts
Hi, my name is Adam Stewart, debt collection expert and owner of Debt Recoveries Australia. I am here to tell you how to make money from your bad debts.
In my experience over the years, debt collection is one of the most neglected tasks in business today. Many businesses simply write off a debt as being too difficult to follow up and fear damaging customer relations. Outsourcing your over-due accounts to a professional debt collection agency means you can free your time to concentrate on your business and your customer will know you are serious about prompt payment and payment in full. You may be surprised at how successful some agencies can be when collecting written off or bad debts. This can be a valuable source of income in lean times.
Be prepared and remember: cash is king! With record low interest rates, small to medium-sized businesses are borrowing heavily and their businesses are growing rapidly. However, some analysts predict interest rates could soar by as much as 2% in the next 18 months. Many of these businesses will face financial problems, thus, accounts will become over-due or simply not paid at all.
I believe businesses should outsource their over-due accounts and bad debts so that business owners/managers can concentrate their energies on their core business. A debt collection agency can concentrate on getting the accounts paid on time and keep control of any delinquent debts.
Money is such a key ingredient in running a business and it affects almost everything we do. If you do not master the money, it will master you.
Debt Recoveries Australia is based in Melbourne and commenced business in 2001. We have experienced significant growth and now assist many businesses and enterprises with cash flow acceleration and overdue accounts. Call me on 1300 799 511, chat at Skype: debtrecoveries or go to our website www.debtrecoveries.com.au.