Your Customer is About to Become a Bad Debt

piggy bank _manThere are many reasons that can lead your customers to a situation where they have bad debt. Sometimes, circumstances are beyond their control. Their business could be failing, a new competitor may have joined the marketplace or even a natural disaster could do damage to the business.

Here are a few signs that your customer is treading water and heading toward bad debt:

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Time is the Weapon of the Debtor

time_ weapon of debtorAs we stated in our last blog, time is the weapon of the debtor. The longer you give your customer to pay, the less likely they are to pay.

If you don’t collect unpaid debts from your customers, you will pay the consequences. If it’s not important to you to get your money, it’s not going to be important to your customer to pay.

Here are some steps to help you avoid unpaid debts:

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Top 5 Benefits of Working with a Commercial Collections Debt Management Company

timeTime is the weapon of the debtor.  The longer you give a debtor to pay, the less likely they are to pay.

Research indicates that the chance of collecting a debt decreases 12% per month for every month delinquent.

Once you come to the realization you are unable to collect unpaid debts on your own, it becomes time to enlist a debt management company.  A collection agency can get money that you (the client) can’t get.

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My #1 Tip for B2B Collections

#1Many times employees are so interested in making the sale that they don’t think through how the customer is supposed to pay.  They’re afraid if they bring up the terms of payment that they’re going to scare the customer off, and so you’re stuck with unpaid debts. In this blog we’re going to discuss a few ways to avoid being a victim of the same, all too familiar, situation.

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You Can Lose Half Your Weight and Half Your Debt in Half the Time

AmericanFlagThe new American Dream for millions of Americans is to be both skinny and debt free.  Millions of books have been published about being skinny.   And millions of books have been written about being debt free.  But very few books, if any, have been written about both losing weight and getting out of debt at the exact same time.  David and I committed ourselves to putting this all together in our skinny and debt free blog at www.skinnyanddebtfree.com .  We are marrying philosophies of Dr. Oz with Dave Ramsey: Weight Watchers with Clark Howard; and Susie Ormond with Dr. Atkins.  We have literally researched hundreds of diet books, and have had experience getting hundreds of thousands of people out of debt over the last 40 years. So, we came to the conclusion we owed it to everyone to share some of our ideas and thoughts on the skinny and debt free blog.

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