When you are planning to recover the amount that your debtors are not paying at the right time, it is a tricky situation for you. And when it is holiday season and you are trying to recover the money, it will create even trickier situation for you. Now, at Nelson, Cooper & Ortiz, LLC. We keep getting requests for recovering the money from the market around the holiday season the most. This is the time when the companies are supposed to give their employees a bonus or incentives. So, leaving unpaid invoices unattended is not a good idea this time.
So, if you are trying to do the business debt collection on your own, you must follow the rules that we are about to mention here. Take a look.
This is the time when you need to be too careful about recovering debts. And there is no point of waiting to recover the amount for a long time. Start your recovery process two months prior. You must not let the debt persist as it will then become even more unlikely to get the money back. Rather you need to offer special options for payment during this season. You can think of offering solutions like installments or sending you payments in check by courier. If you are hiring a collection agency, involve them in this negotiation planning too.
Watch Out for Bad Situation
When you are collecting your money, you might find out that the debtor is really in bad shape. Maybe the business has gone bankrupt or the owner has died or there is an incident of arson or accident. In any case, showing flexibility is a good option for your business relation. However, make sure you are leaving a way to collect the money later.
A holiday season is after all the festive season. And you might never know what kind of trouble or crisis the debtor is in. So, before you start talking money, being courteous will be a good idea.
So, now as you know about these ways to recover the debt during the holiday season, what are you waiting for? When you are looking for the best collection agency, come to us at Nelson, Cooper & Ortiz LLC and discuss your case. Visit https://prelitigation.com/ or call at (800)939-7213 now.