By engaging a debt collection agency any further cooperation with the buyer is usually not compromised as it is on the other hand common in the event of a legal procedure.
Business advice
Monitoring provides timely information on changes in companies, which could have an impact on subsequent operating activities.
Business advice
Engaging a debt collection agency enables the creditor to devote himself exclusively to his primary activity.
Business advice
Before the beginning of cooperation it is wise to check the creditworthiness of each business partner. The cost of a few tens of Euros is negligible compared with the losses that your business may suffer because of the lack of information regarding the buyers' financial situation.
Business advice
It is not recommendable to wait more than three months after the claim is due before engaging a debt collection agency. The longer claim remains unpaid, the less likely you will ever receive payment from the debtor.
Business advice
Pay particular attention to verifying companies which have recently changed their owners more than one time.
Business advice
The best prevention is a regular check-up of your customers and timely action against those who have difficulties with prompt payments.
