Monthly Archives: July 2010

Haste Does Not Make Waste With Business Debt Collections

Timing Is Key In Business Debt Collections

“The wheel that squeaks the loudest gets the grease” is an old adage that certainly applies in tough economic times. Business debt collections can be considered a top management issue.

Business debt collections should begin the day your invoice is sent.You may do this by sending the invoice and then confirming that it was received.

Then kick debt collections into high-gear on the first day the account becomes past due. Should you ever need to go into litigation for debt collections, it is important that your invoices contain all of the following:

  • The name of the party(s) responsible for the account
  • A description of the goods or services provided
  • The per unit charge for the goods or services provided
  • The total amount due for the goods or services provided
  • The due date of the invoice

Your first step in debt collection may be Debt Validation.