How To Recover Your Debts Without Frightening Clients
If you’re a business having problems with bad debts, those clients continuing to avoid paying you can make your blood boil. The problem is when those clients that owe you money are your most valuable clients, it’s unlikely you will want to frighten them away altogether.
So what should you do to avoid scaring your clients away?
1. Be prepared to be flexible in your approach
There isn’t a one size fits all approach to debt recovery so it’s useful to be able to handle things differently depending on how important that client is to your business both now and in the future.
The last thing you need is to scare off a customer that has been propping up your business for years when handling things with more sensitivity could get your bill paid and keep your client on board.
If bad debt continues to be an issue with certain clients and you are repeatedly suffering the stress of having to chase them, then perhaps it would be better to go and find better clients to replace them.
2. Be prepared to talk to your client
Emails often come across as cold no matter how nicely you ask for a debt to be repaid within a certain timeframe. Arranging a face to face meeting or simply picking up the phone can help resolve a situation before it gets out of hand.
3. If all else fails call in a debt recovery expert
Debt recovery can be difficult and awkward so if it becomes a problem, remove yourself from the equation and hire a debt recovery expert to do the chasing for you. We can negotiate sensitively with your clients and help work out the best solution for all parties