My friend, Steve, told me that with the closing of the accounting year looming, he is feeling the pressure of collecting debt from a few companies that have failed to settle their bills for work that Steve's company had done for them. I can certainly understand why Steve is angry. It doesn't matter the amount owed, large or small. When work is done, we expect payment and according to Steve, these companies have made no effort whatsoever to try to make payment; even if it's by installment.
Steve said that he's contemplating engaging a Debt Collection agency to help him recover his dues. He said that he needs professional help in managing his accounts receivables since the way that he has been handling them has not worked well so far but he wanted to have my opinion if it was a good idea bringing in a third party to recover the money as he was afraid that it would strain relations.
I said that if Steve does engage a professional debt collector, it would free up his resources and manpower. Collecting debt is really time consuming and it makes business sense to let people who are in the business of debt collection handle it. Debtors shouldn’t be angry. It’s their fault, after all.
Steve said that he's contemplating engaging a Debt Collection agency to help him recover his dues. He said that he needs professional help in managing his accounts receivables since the way that he has been handling them has not worked well so far but he wanted to have my opinion if it was a good idea bringing in a third party to recover the money as he was afraid that it would strain relations.
I said that if Steve does engage a professional debt collector, it would free up his resources and manpower. Collecting debt is really time consuming and it makes business sense to let people who are in the business of debt collection handle it. Debtors shouldn’t be angry. It’s their fault, after all.
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