Most Effective Debt Recovery Strategies

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Most Effective Debt Recovery Strategies
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Introduction
Most of the debt recovery strategies often incur
costs to the debt recovery firm and is a time
consuming job. Some of the most sorted recovery
methods can be adopted to speed up the debt
recovery process.
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Thorough Credit Check
Prevention is better than cure. It is the
foremost effective strategy that keeps you
updated and provide complete protection against
bad debts in future. It is also helpful in
deciding to what extent terms of trade should
move as far the company is concerned.
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Terms Of Trade clause Inclusion
The terms of trade clause must be well drafted in
such a manner that you can take legal action over
the company or on its directors property, in case
the debt is not recovered within the stipulated
period of time.
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Addition Of Title Clause
Recovery can be made easier if title clause is
drafted in an effective manner over the invoices
as it will help to recover the goods that are
supplied in case there is non-payment of some of
the goods.
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Personal Guarantee By Directors
Directors must give the personal guarantee that
gives direct access to the assets of the company
and recovery can be made easier.
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Asset Security
It can serve as one of the most effective
recovery tools, in case the debt falls due to any
unavoidable reason.
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Contact Us
Level 5, 68 Alfred Street, Milsons Point, NSW
sales_at_thebostongroup.com.au
02 8920 8886
www.bostoncommercialservices.com.au