Daily Archives: November 19, 2014


The attributes of a successful debt recovery agency

There are only a number of people really built for collecting debts. There are certain skills required by this type of job. Read on to know what it takes to be a successful debt collector so your efforts in collecting payment from debtors will not go to waste. Lets look at the attributes of  a successful debt recovery agency:

Need a helping hand with debt recovery?

The job of debt collectors is to regain the money that businesses owe to an organization, which is referred to as commercial or consumer debt. This challenging and tough task requires certain talents and skills, plus full dedication in order to achieve success. To reclaim debt, collectors need to be both patient and persistent. In addition to this, these skills must further be developed to be successful in their debt collection efforts.

Know How to Bargain

You have to know the types of bargaining chips that are effective. You have to make use of your bargaining power when collecting money from a delinquent customer. Chips, whether they are positive or negative, can be used together. You can tell customers that you can do certain favors for them in exchange for their cooperation. These may include reinstating credit terms, sustaining regular sales relations and getting release orders, among others. On the other hand, you can say that if they do not cooperate, they may have to face legal action and spoil the chance of applying for credit in the future. At times, you need to use both chips, positive and negative alike, so you can have a successful outcome.

Time Management Skills

To get optimal results, you have to learn the skill of time management. There is a limited period for dealing with some delinquent accounts. Therefore, it is critical to make the most of your time. You need time management when it comes to following up accounts. A debt collector needs to stick to work schedules to be successful in debt collections.

Reasonable and Firm

A debt collector should be reasonable and firm in all his transactions. He should be firm whenever he talks, but he should also be reasonable in his demands. Otherwise, this could make things harder for the debtor, and the collector will not be successful in his debt collection efforts.

Maintain Focus and Composure

Any wise debtor will try every means to lead a conversation into an argument and distract the collector’s attention from his intention to collect the debt. So, a collector has to maintain his focus and composure. He should not get easily agitated. He should be professional in his ways by keeping his cool and using his skills whenever dealing with any accounts.

Find Opportunities in Objections

Whenever you call delinquent debtors, do not expect to get paid right away. They usually come up with several excuses. Think positively and consider their alibis as an opportunity for getting their commitment to pay in full. Whenever an account raises any form of objection, you should tell them that the moment this is addressed, they have to pay immediately.

Skills in Research

You need to do research when tracing a number of accounts. You may have to dig different types of databases or browse the Internet. It could require you to call a debtor’s former employer or landlord. Also, you may have to visit his former residence to ask neighbors about his whereabouts.

To recover your money, you need one of the better debt recovery agencies of South Africa. Visit our website at http://www.kredcor.co.za and contact us, we can help you with your debt recovery in Johannesburg, South Africa!


How a professional bookkeeping service can save you time and money.

Bookkeeping services has become an increasing need for any and every business no matter how big or small. Lets see how a professional bookkeeping service can save you time and money.

Bookkeeping headaches?

There is a reason why many firms spend lots of money on a formidable army of bookkeepers every year. A bookkeeper is one of the few people who can actually make your business run easier. It is no secret that any business faces a number of bookkeeping related problems almost daily and dealing with these problems is both a mental and an emotional challenge. But still, a large number of people choose to deal with their books themselves and end up getting in worse messes every year until they finally realize that there is nothing left to salvage. However, even the worst scenario can be prevented by investing in a professional bookkeeping service.

There are a number of benefits a professional bookkeeping service can provide you. But notice how we always use the word professional. People will do anything to save a bit of money. This is especially true in business. Due to a lack of knowledge about the benefits of a good bookkeeper, people try to save money by hiring people of low repute or ‘freelancers’. These people are only available to you for an unbelievably low price due to the fact that they have no experience or are not talented at all. A professional bookkeeping service can help you maintain your records correctly and help you save money that you might lose in the long run.

Here is what you need to know about why and how to choose a professional bookkeeping service:

  • Your bookkeeper does a lot more than just file your receipts and keep your bills paid. But that is important too. Imagine neglecting to pay a bill one month or two and having to pay astronomical fees. That may not seem like a great benefit now, but if you wish to keep your business reputable and to maintain its goodwill, get someone who takes the load off of your temples.
  • Your bookkeeper will help you in negotiating and dealing with vendors and other people you have to deal with. A good bookkeeper can help you deal with vendors and get you discounts and make good business deals.
  • Your bookkeeping service will help you deal with most of your finance and accounting related matters so you can be worry-free that you will make any mistake.
  • A good bookkeeping service will help you prepare your financial statement so you pay your taxes easily, efficiently and on time. You need to provide information about your profits, losses and assets to the government and many times this information can go wrong if you try to do it yourself. Your bookkeeping service will guarantee you pay only what you have to.
  • Cash flow! Keeping track of your cash flow is extremely important. A bookkeeper keeps track of and keeps you updated on your cash flow making sure you are never lower than the minimum account and any excess goes straight to the bank for safe-keeping.
  • Expenses. If you run a small scale business, you will know well how expenses can go out of hand in just one day. A good bookkeeping service is optimal in keeping track of your expenses so you know just how much it is that you are spending and to keep you updated as to how you can cut back these expenses.
  • Profitability and Growth. If you are a sole-trader or a small scale business owner, then you know just how hard it is to know your businesses profitability. Stock has to be accounted for, creditors have to be deducted, debtors included and still there are some items that escape your mind. This results in a wrong report. You can miscalculate your perfectly profitable business to be in severe loss and similarly a losing business might seem profitable. To keep you in check of your reality and to tell you how to cut losses and increase profit, you need to utilize a good bookkeeping service who keeps your accounts in check all year round so you know what is happening all day every day.
  • Help. Again that tiresome tax! Did you know that there are a lot of taxes that can be refunded? You may be losing a lot of money to these refundable taxes. Similarly, people can deceive you in the name of taxes. A good bookkeeping service is important in getting you back your hard-earned money and keeping you free from swindlers and deceivers.
  • Your bookkeeper gives you more time. Imagine working all day for your business and trying to work as a bookkeeper at night. It is a nightmare. Not only will you be tired, you will suffer a loss of more than money. Your health will deteriorate and you still won’t get anywhere. A good bookkeeper keeps your schedule free to focus on the business matters while taking care of your financial matters.
  • A good bookkeeping service keeps you out of jail. Every business gets an audit and you can be questioned in every little transaction. A bit of too much neglect can have you declared as a tax thief and you can have legal action taken against you. This results in heavy fines and even jails. So keep yourself out of jail and at ease by investing in a good bookkeeping service.
  • Outsourcing is necessary. Any person who works for you as an internal employee can commit a fraud, ‘cook your books’ and rob you of hard earned money. Also, if that person is not experienced or skilled, you can also lose money both ways. Go for a professional bookkeeping service with a good repute so that you don’t lose money by getting swindled or by employing an un-skilled person who is sure to cause you more harm than good by being inexperienced and not trustworthy.
  • Accountability. Your bookkeeping service will act responsibly because they know you can ask them about your books any time at all and therefore can terminate the contract at the slightest mistake.

All these benefits are worth the bucks you will be investing, which otherwise would go to waste with the other heaps of cash due to the lack of good bookkeeping.