Debt Collection Tips

Recovering a debt can be a very demanding task. Many psychologists have been studying several techniques in order to find different effective strategies. Obviously, this knowledge has been used by lawyers who are specialised in this field. Before starting any negotiation to chase a debt, it is fundamental, to obtain the necessary documentation in order to analyse the circumstances carefully thus enabling us to find out the viability and possible expectations to recover the said debt.

First of all, the creditor should provide you with all the information in relation to the situation. Secondly, you should ask the rest of the suppliers their exact situation . Thirdly, you should ensure the debtor is aware of How much, when and how the debtor has to pay the amount owed . It is essential to prepare invoices in relation to the mentioned debts.

Once, you have studied the method referred, you will have to attempt to liaise with the debtor. You should not use negative expressions when you contact the debtor. Also, you should make the debtor aware of the debt. You should not let the debtor make any excuses in order to avoid the payment. You must be persistent, and also, it is important to follow the proceeding, because you should make him feel as a debtor.

If you contact the debtor via a telephone conversation , the first 20 seconds, will be quite fundamental, because this is the time to make an impression, this impression should be aggressive although at the same time polite and direct.

The persistence has vital importance, and you should also remind him that if he does not proceed to liquidate the debt, he will be included on the black lists, and consequently the debtor will not be allowed to ask for any kind of credit anymore.

I would like to remark that recently a European directive has been elaborated in relation to debt collection, which has intensified all measures in order to avoid these situations, because unfortunately the non-payments are causing negative consequences for medium sized companies.

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