How to collect business debt

How to collect business debt

Collecting commercial debt is tricky, at the best of times.

To make things easier on yourself, consider the following:

  • Have a good admin system in place, where all the necessary documentation, per client, is kept in good order:
    • the credit application (with terms and conditions)
    • Credit Risk Assessments
    • invoices, statements, proof of delivery
    • client details (contact details of relevant key personnel)
  • know days outstanding, start contacting non paying clients asap
  • obtain credit information reports on all clients, at least once a year – and decide on the probability of doing business with each client



Also consider:

Step 1 – How old is the account?

If it is under 90 days old, then you can try to collect without a collection agency. If it is older than 90 days, then it is better to give the account to an agency. Just looking at the numbers, a collection agency will have a better chance to get your money back.

Step 2 – Decide who will handle the debt.

Then move to step 3.

If you think a collection agency will handle the debt then it is best to choose the right one for your needs. Different industries use different language and the more a company understands the language and the industry used in it, then the more likely they are to collect for you.

Step 3.

If you decide to contact the debtor yourself, make sure you document all of the communication. Even if the debtor does not respond, make note of the attempted communication. The squeaky grease gets the wheel as they say, and this is just as true in debt collection.

With proper credit management, defaulting debtors need not be a headache.

Call us now on 011 907 4406 to be of assistance.

KredCor Khuluma – one of the most reliable debt collectors in South Africa

KredCor Khuluma – one of the most reliable debt collectors in South Africa

Debt collection is a way to retrieve the unpaid debts of business owners who are unable to repay it due to any reason. But sometimes a situation arises when they are not able to pay back the debt and in such a case, debt collection agencies play an important role.

There are a number of agencies located in South Africa that help the business owners to get their debts back. Among the different companies, KredCor Khuluma is one of the top debt collectors that help customers in the best possible way.

KredCor aims at serving their clients with top notch services and that is why it is one of the well known companies and the first preference of business owners. Collecting business debts, providing credit reports, and recovering assets etc. are some of the exceptional services that Kredcor offers their clients. So if you are unable to get back your debt on time, contact KredCor which can help in quick debt collection and overcoming the problems faced by the clients.

With so many debt collectors in south Africa, below is a list explaining why KredCor is the first choice of the people:
Top quality solutions
If you are looking for superior debt collection services, KredCor is the name that you can rely on. It is because of the simple reason that its vast range of services is really excellent and the professionals will offer the right advice. Collect debts as per the laws in South Africa, no hidden charges, complete credit information, easily recover the assets etc are some of the services that you can obtain from them.
Experienced professionals to assist you
KredCor has the trained, qualified and knowledgeable staff who is well versed with the laws and knows the right procedure to collect the debts. They will provide you complete information about your potential clients so that you can take a wise decision.
Puts an end to your worries
The debt collection agencies work with a motive to ease the tensions of their client and make them feel relaxed. Once you are connected to KredCor, you need not take tension as the professionals will make sure that debt collection is done in a proper way thus preserving the reputation of the business and the company.

So get in touch with the professionals and seek their guidance. Call Kredcor at 011 907 4406 and do proper credit management!