DebtKollect : Overview
Extending credit to customers or clients is often a gamble because even those with excellent credit history can occasionally miss a payment or experience financial hardship. With this risk, it is even more important that their payments are made to you on time as agreed.
Today, business cash flow is always a challenge due to tightening credit markets brought on by a recession, the wave of economic crisis worldwide. With less availability and access to credit, businesses are increasingly using debt recovery agency services as an avenue to maintain positive cash flow and keep their businesses operational.
Collection of accounts receivable and bad debts do not normally require the immediate initiation cases in courts. Extra-judicial efforts such as a series of demand letters sent to the debtors would suffice to convince the latter that resorting to litigation may not be the most prudent course to take.
It is only when the extra-judicial demands failed that the uncollected accounts are referred to the law firm for purposes of initiating the appropriate actions in courts. The end-result is, the good and harmonious relations between clients and their debtors are never adversely affected as the demands are made not by a law firm which usually makes demands couched in stiff legalese but by a collection firm. Moreover, the clients and their debtors are given greater leeway and lead time before serious legal actions are taken. And more significantly, the cost to clients is much reduced as the fees involved when the collection is outsourced to collection agencies, Inc. are far lesser than when the same is made through the law firm and its lawyers.
The decision to outsource to collection agencies is as often important as operating the business itself.
DebtKollect will do the all the job for you to ensure that payments are made to you on time, that your cash flow remains positive and your delinquent accounts are paid.