If you’ve got overdue accounts in your business gathering cob-webs chances are you’re using the myth that chasing unpaid accounts chases away customers to justify debt collection procrastination.

However, if we dig a little deeper we’ll see that this reluctance to assertively recover overdue accounts actually stems from the fact that hounding people for money is simply awful. And because it’s human nature to avoid the things we hate doing well guess what… we avoid chasing bad debtors!

Now as seductive as avoiding unpleasantness is, the cold hard truth reveals that this reluctance to pursue overdue accounts is devastating.

By definition, a customer pays you money in exchange for your goods or services.

While that’s a basic definition, a good customer does more than give you money. A good customer will pay you on time and they will respect your businesses enough to get in touch with you a.s.a.p. if they are experiencing problems paying you on time.

Lets face it, it’s no crime to find one’s self in a financial squeeze… especially in this day and age. However, a decent human being will take responsibility for their situation and as such will approach you openly and honestly with a view of reaching a mutually agreeable solution.

However, anyone who dodges your phone calls and letters; anyone who tells blatant lies to get you off their case; and anyone who makes up false disputes… they’re NOT is not a good customer!

So going back yo our definition of a customer, anyone who takes your goods and services but then refuses to pay you can not be a customer. They are instead bad debtors who by definition have no intention of paying you. As such these individuals need to be dealt with swiftly and ruthlessly if hope to have any chance of seeing your money again.

Bottom Line: The worst thing you could do for your cash-flow is to buy the myth that chasing overdue accounts assertively is bad for business. For as you can now see the opposite is true.

To help you recover more of your debts faster and cheaper The Debt Doctor’s Debt Collection website has a number of powerful free tools and resources. For instance, to download free debt recovery letterssimply click either link above.

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