Debt Collection
The ambulance at the bottom of the cliff

Lets face it, (in most cases) if you need to call in the Debt Collectors, YOU have done something wrong! However, we hope that you can learn from the experience.

There are many reasons (and excuses) why we don't get paid. And these are just OUR excuses. The Customer may have just one; they either 'can't' or 'don't want to'!

Lets take a quick look at these:

• They can't because they have no money - not usually much you can do about this
• They don't want to because you didn't deliver, or they dispute the invoiced amount in some way!
• They don't want to because you can't do anything about it if they don't - no signed paper work / your too nice!

So the next time you experience problems getting paid, ask yourself these questions:

• Did you ask them to sign a contract or Terms of Trade?
• Did you ask the director/s or owner/s for a personal guarantee?
• Did you perform a Credit Check AND check out the references that they provided?
• Did you monitor their payment behaviour during the course of business?
• Did you follow your Credit Management Plan / timetable for debt collection?
• Did you inform the customer of your Credit Policy?
• Did you and / or your staff stop credit at the earliest indication of problems?
• Have you and / or your staff maintained communication with the Customer?
• Were you being Mr/s Nice Guy and let them slip out to 90 days - and now you can't get them back?

Neglecting to do just one of these could spell disaster - how many did you do?

Find out why credit checks are worth doing ...

Outsourcing debt collection to a specialist third party

A debt collection agency can be used for accounts that are 60 days or more overdue. Outsourcing debt collection to a specialist third party, such as Shark Patrol, means you can direct your resources at your core business - saving time, money and frustration. Also, along with the many tools, resources and tactics Shark Patrol offers we also have the ability to report your seriously delinquent customers to other members for up to five years - so your predatory customer is stopped in their tracks.

Shark Patrol offers a debt collection service via one of our carefully selected and trusted partners. We will take the stress out of your hands and make sure you get paid! Additionally, we will alert every existing member doing business with this entity that they owe you money, as well as every member that enquires about them for up to five years. BUT you need to be a member to use this service ...

Is outsourcing debt collection to a third party is cost effective - YES

Once you take into account the time, training (to do it properly), cost of phone calls, letters, postage, then add the lost revenue generating time, potential family time its not rocket science to work out that its far less expensive to outsource debt collections to third party collection agencies.

Find out about Shark Patrol membership packages ...

Join Shark Patrol now ...