When the entrepreneur has problems with customers that are in default with payments, they are not alone in it. Almost every company in Poland has, had or will have such problem. It escalates along with unfavourable market trend and deteriorating conditions of doing business. Warning of the debtors, via the telephone via e-mail or in writing, fails to bring the expected effects. The business partners being in default with payments all the time promise that they will pay the debt right away, soon, in a couple of days, but it usually does not happen.
Looking for the ways of solving of this problem, a lot of entrepreneurs have contact with Internet debt exchanges. Their first thought is: I will sell the debt and the problem is over!
Apparently, this association seems to be correct, yet in practice the purchase & sale transactions are rare. Nevertheless, it does not mean that the debt exchanges are some mock-ups – thanks to them it is really possible to recover the overdue financial means, yet it happens in a slightly different manner as it would seem.
When problems with the debt grow and the customers defer their payments more and more often, failing to meet the next arrangements in the field of the repayments, making of the debt public on the Internet debt exchange will be a good support of the actions aimed at recovery of the means. It is usually dealt with by professional debt collection companies. The factor that is important here is public announcement of the fact of occurrence of a liability of a given company and not the threat that the debt will be sold to a third party entity. Why is it so?
Making of the debt public means that great number of debtors will be much more determined to settle the issue of the overdue liabilities. The power of this psychological pressure results from the fact that everyone may get to know that the company has problems with timely payments, which will certainly be interesting for the future and current business partners, subcontractors and other recipients.
In this context, it is important to publish the debt in the exchange that is highly positioned in Internet browsers. In such case, it is enough to enter the company data to find out about its debt. Each Internet user will have such possibility. And what if we really want to sell the debt? Please see another text from our Guide: ‘When to sell the debt in order not to lose’.
Published on: 9 November 2016