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Top 5 Debt Collection Tips

debt collection tips

Outstanding accounts have always been part of every business and is becoming more so now in today’s economic climate, and the older the debt the harder it is to collect.

1. Have clear trading terms and follow them

2. Have signed credit applications from all customers

3. Commence recovery efforts immediately an account is approaching your trading terms

4. Follow up on a regular basis

5. Contact a collection agency

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