12 Jan 2012
Many companies these days in doing their day to day business offer credit and accept credit or installment payments from clients and customers who would find it often convenient. Honestly I have seen many customers, of one popular store in the country, which was turned off when they found out that the store’s branch in the new mall does not accept credit card payments still.
Collections and recovery of debt is one serious matters that any business must face when their clients and customers at one point in time may become delinquent in paying their due accounts. For any company, debt recovery is important when faced with late payments and bad debts from those so called delinquent customers and clients who the business will eventually encounter. A company may opt for a debt collection agent which can be a last resort to handle all the hassles of the debt collection process but not to the extent of hiring unscrupulous debt recovery specialists and agencies that will ruin your company image. Still it remains any company’s goal to be able to keep up with collection and recovery of what they have already earned yet still has to be collected from delinquent customers.