According to all forecasts, in the current year we should expect economic growth on the level of 3% of the GDP. The factor that is responsible for the already perceivable improvement is the increase of the consumption demand as well as of the foreign trade. However, the positive information should not relieve us from looking rationally at our business. It is so particularly due to the fact that the number of the overdue invoices still constitutes a big problem for a lot of entrepreneurs. Last year, the average time of waiting for payments grew from 51 days in 2012 to as many as 69 days.
The pragmatic approach to the problems with enforcement of the debt will be crucial and may decide on the fact whether we manage to take advantage of the chance provided by the current growth trend properly.
When the business partner is late with payments, the response must be immediate and regular. A phone call with a reminder about the forthcoming payment term does not violate good cooperation principles. On the other hand, silence in the situation of delays may be a tacit consent for the debtor for further non-timely payment of receivables. You can conduct the debt collection on your own. Nevertheless, it is the possession of extensive professional knowledge, soft negotiation skills and familiarity with psychology that decides on its effectiveness. For this reason, cooperation with a professional debt collector may turn out to be a better and a more profitable solution.
When ordering the debt collection to professionals, we are sure that if needed, they will perform the debt collection actions in the field, as well as we may count on a number of additional services, such as business intelligence or payment monitoring. The debt collection companies charge remuneration on a success fee basis so it is in their interest if the actions are completed successfully.
However, we should remember that still a lot depends on us. We cannot withdraw the fact that the debtor has contacted us e.g. in order to conclude the settlement and to defer the payment in time from the debt collector. The actions of the debtor affect the debt collection process.
The internal legal offices of the debt collection companies are very effective in conducting of court proceedings leading to recovery of the receivables resulting from trade transactions as well as in the actions supporting bailiff enforcement. However, it is usually in the interest of the client to recover the cash as soon as possible and it will be ensured by professional debt collection oriented on amicable settlement of the dispute and recovery of the debt.
So we should not let the problems with the overdue receivables be an obstacle in our way to development.
Published on: 4 March 2014