Ten common debt recovery mistakes – No 6: Failing to follow up
25 November 2016
Sarah Everton, dispute resolution lawyer at Myers & Co in Burslem, Stoke-on-Trent looks at the ten most common mistakes business owners make when it comes to tackling debt recovery, and advises on the best course of action.
Mistake 6: Failing to follow up
A robust credit policy must also be structured; your debt recovery staff should be able to follow a procedure to ensure that your debtors are contacted consistently. If you demonstrate persistence, late payers will soon learn that they cannot just ignore the debt. Decide how long you will continue to contact them until they pay, and when you will pursue formal recovery proceedings.
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