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Customer debt collection?

Question asked by Henry - Jan 20, 2014

What's the most efficient way to handle debt collection from delinquent customers?

response from John Englund
- Jan 20, 2014

If you have only a few customers who pay late then you can handle debt collection inhouse without dedicating too many resources to the task. On the other hand if you have multiple customers who consistently fail to pay on time then chasing these debts can become a real drain on your resources. The cost of temporarily hiring a debt collection agency or specialized credit control firm will usually be lower than the cost of a salaried employee dedicated full-time to debt recovery.

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