BusinessFinance

Just One More Chance Is One Too Many

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eCollect

The events of 2020, with the global coronavirus pandemic impacting national economies and business around eCollect the world, have demonstrated more clearly than ever the critical role that reliable cash flow plays in sustaining business viability.

That means it is essential that clients and customers pay their bills in full and on time. However, for many of us, when times are a bit tough, our humanity and empathy emerges and we are inclined to be more lenient and understanding, providing a bit of leeway if people indicate they are struggling to pay.

In many instances that can be an effective strategy for sustaining business, particularly where there are long standing relationships, and the customer or client has a comprehensive track record. However, it is also the case that there are less scrupulous people and businesses operating that will take advantage of circumstances and goodwill to avoid paying bills, either on time or at all.

The reality is that anyone who is in business has been there. Importantly, regardless of the circumstances that led to an unpaid debt, when a business owner gives a client one more chance to pay, debts that are not paid within a month or two of demand by business owners generally are not paid at all.

If you have found yourself in that situation, it is absolutely imperative that you engage with a professional credit recovery agency such as eCollect sooner rather than later. If you are serious about debt recovery, success is about starting early with a continual and staged escalation of the process until you find the breaking point of resistance. It’s also important that you do not stop until the debt is resolved.

It can be difficult to take the emotion out of managing unpaid debts and that’s where eCollect offers an important circuit breaker. When you engage us, we will provide a dedicated account manager that specialises in your sector. Our process removes the emotion from the equation. We will engage the debtor in a clear and structured process, seeking to understand what the cause for non-payment is, whether it is because of the debtor’s financial circumstances or some other reason for resistance to payment.

The eCollect approach is all about building a relationship to form the foundation for establishing a clear pathway to resolving the outstanding debt. There is no coercion involved and all parties receive clear and unambiguous communication from the moment debt collection proceedings are instigated until the credit matter is resolved. Only in the most intransigent cases are legal proceedings required.

If you are facing a challenging debt recovery situation and you’re contemplating giving the debtor just one more chance, it’s time to reconsider. Contact eCollect today to discuss the options available for you to quickly and fully resolve the situation. And if you’re feeling a bit nervous about making the call, consider using our online Debt Terminator software to assess your options and generate a hassle-free quote.

Rajesh Saini

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