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Debt collection: Is it possible for the relationship to remain?



Debts are annoying, frustrating, and hurling. No matter which side we stand on. On the basis of my observations, we can say with great certainty that the entrepreneur of today’s age faces at least one time in the course of his operation that one of his customers, clients and partners does not settle the invoice within the given deadline.

The question is, what can we do to recover our receivables, but the relationship is not irreversible.

Effective recovery starts already when there is no debt

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Did you know that the effective recovery of your debts often starts before the actual debts? Does it seem incredible? But this is true. No matter what kind of ammunition we have, we can work. The fewer the well-thought-out and legitimate tools in our hands, the greater the likelihood that the expected result will be missed, the relationship will be irreparably damaged. It certainly wasn’t the purpose of doing business with his client. Think about how much you have worked to build a relationship to get your customer. It would be a pity to lose it just because at the beginning you didn’t think anyone could get into a difficult situation. I am not saying to assume that you will not want to pay later. It’s not about that, because if you feel that way, you shouldn’t go into the business and save yourself from disappointments.

A word, like a hundred, is a precursor to recovering debts.

What preventive steps will help you recover later?

The first and most important thing is to have an appropriate contract between the parties. Because a contract can be created not only in writing, but also orally, so there is always a contract between the parties. The only question is how easy it can be proved later, and how clear it is to determine who, why, when and how much to pay. Because debt collection is harder to recover, the fewer clearer conditions that both sides have previously agreed. It is not at all irrelevant whether we can refer to a written contract or an oral agreement stamped with handshake.

Before you think that a client candidate runs away, if you put a contract in front of your nose, you should consider the situation. The contract must serve and protect the interests of both parties. In this way, it is possible to avoid later surprises, the “I do not understand” objections that not only make recovery difficult, but also damage the relationship.

If there is no other, at least have a written order and one answer.

Although this does not cover all the details, it is definitely better than an oral agreement.

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In the contract, we can also lay down safeguards that can not only help recovery, but may also precede the debt. A client with a liquidity problem will consider how much it will hurt him if he doesn’t pay. For example, a properly defined default interest is not a negligible aspect. There are other options available that can be taken into account in an appropriate contract preparation process.

If we want to keep our customer relationships, then human communication must always be at the forefront. That is, it is not advisable to strike the hardest tools of the law in the first 1-day delay, although this is not the case. Rather, it is the opposite of what is often observed. It is neither good nor even detrimental to the chances of recovery if you do not take appropriate legal action for too long. But what can we do if we do not want to be too hard, but is efficiency important?

It is not worth to wait without a word. If the customer just forgot about the payment deadline, be sure not to take the wrong name, if we kindly remind you, we ask if the invoice was successful. However, if the payment is not received because the customer is in “financial trouble”, the better you see it as soon as possible. In such a case, many people do not choose what they are paying for and what they do not, but on the basis of their feelings. That is, they try to “get away with it” as long as they can, so they pay for those who are not just waiting quietly.

After a while, the phone, the interested e-mail?

It is time to take things a little more seriously. The payment request may follow. This will be sent in writing to provide you with the necessary torque and to provide a good basis for a controversial situation later on. You can also have a polite tone in your payment request, but be factual. We tell you how much the debtor is entitled to by the contract, what the payment deadline was, how long he has been late and what other obligations have arisen for this, ie how much the default interest or the cost to be paid is. Notice that we will send the letter to the correct address. If this is not specified in the contract, the debtor’s domicile, in the case of a private individual, is the permanent address. In the notice, let us also set a deadline for settling the debt, but this should not be too long.

In vain, the debtor still does not pay?

The recovery of legal claims will sooner or later require the use of legal instruments that can help to resolve the situation If we have already tried kindly, with interest, we have sent out the factual notice, and yet the amount is not received, it is time to face the issue more seriously. situation. At this point it is advisable to ask for legal assistance and to discuss the possibilities with a lawyer. This may result in non-litigation or court proceedings for issuing a payment order.

Legal options alone do not guarantee full success in every case, because if a debtor does not have the money, he does not have to recover from it. However, it does not matter how long we wait when we enter the line of creditors.