As a business owner, you want to avoid that your receivables are not paid. Debt collection means collecting outstanding money. Receiving payment of your outstanding invoices on time is good for your business in every way. How do you make sure you get paid? We help you to collect effectively, not only by assisting you with valuable information about your debtor but also, should the occasion arise, by helping you to choose the best collection partner for your specific situation.
Debt collection means collecting money. Getting your receivables paid quickly is a priority to keep your business liquid and able to grow. Read more about why it is crucial to have enough cash liquid.
The process of accounts receivable management is vital in its entirety. It starts with being well informed about a potential buyer beforehand. You can read all about accounts receivable management in this article.
Nothing is more frustrating than a non-paying customer. The better you follow up on your outstanding invoices, the faster their payment. You should not wait too long to collect your receivables, especially if your customer does not make any firm commitments. In addition, it is crucial to obtain as much information as possible about the customer in question in the event of non-payment.
If payment does not seem to be forthcoming, there comes a time to call in a debt collection agency. The choice of a collection partner and the right timing is essential in this respect and depends on your specific situation. It is also advisable to inform yourself well about, for example, no cure no pay debt collection. It may be that a condition applies, which means that you will have to pay anyway if debt collection is not possible. Therefore, it is wise to familiarize yourself with the companies that offer debt collection services, just like you would with a potential buyer.
What is the difference between out-of-court and judicial debt collection? In both cases, it is a matter of handing over a debt collection. An out-of-court collection is the attempt to collect the money of outstanding debt with the help of a collection agency that you have brought in after sending a legal reminder to your customer. If payment is still not made, it is essential to proceed to legal collection. Judicial collection means that legal steps are taken by calling in a bailiff’s office. Legally they are empowered to a greater extent than a collection agency.
Often collections are outsourced to the credit insurer where the insurance is placed. In case of a non-covered claim, we always advise you to contact us. Because we can draw from more sources, sometimes it may be advisable to transfer your collection to another collection partner; this may vary per collection.
We can assist you in investigating non-paying customers, whereby we can consult various databases. We also advise you on the action(s) to be taken, and we engage a collection agency or collection lawyer to collect the claim. Maintaining good relation with the client is central to this process.
As indicated earlier, it is crucial to choose the right debt collection partner to collect your claim. We have an extensive network of debt collection partners and can advise you on which party is most suitable for your specific situation. This depends, among other things, on:
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