5 Debt Collection Strategies

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Five Debt Collection Strategies
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Here are 5 Debt Collection Strategies

• Legal Actions
• First Demand Notice
• Second Demand Notice
• Send monthly statements
• Polite reminder phone calls

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First Demand Notice
If in case the customer does not respond to the
reminder calls repetitively, a former demand
letter will be sent through email or fax. A
follow up card will also be made to schedule the
payment of the due amount.
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Second Demand Notice
If the customer fails to pay the due amount on
the first demand notice within 14 days, second
demand notice needs to be sent.
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Send Monthly Statements
Its important to send the monthly account
statements on the first of every month to the
customers. The account statements shall be
professional and properly worded.
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Polite Reminder Phone Calls
Remind the customer by giving him a phone call to
make sure that the invoice is approved and
schedule the payment date for the same. The phone
call is to be made on the day of due payment as
well.
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Legal Action
If everything fails, and the customer does not
foot the due amount, do not give up. Ask your
legal professionals further for strict debt
collection strategies.
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Contact US
Level 5, 68 Alfred Street, Milsons Point,
NSWAustralia
sales_at_thebostongroup.com.au
02 8920 8886
www.bostoncommercialservices.com.au