{"id":408,"date":"2017-01-30T13:52:44","date_gmt":"2017-01-30T02:52:44","guid":{"rendered":"https:\/\/marshallfreeman.com.au\/blog\/?p=408"},"modified":"2017-07-26T12:22:06","modified_gmt":"2017-07-26T02:22:06","slug":"why-hire-professional-debt-collectors","status":"publish","type":"post","link":"https:\/\/www.marshallfreeman.com.au\/blog\/why-hire-professional-debt-collectors\/","title":{"rendered":"Why hire professional debt collectors?"},"content":{"rendered":"

Why hire professional debt collectors?
\n<\/strong><\/h1>\n

Three reasons to hire professional debt collectors.<\/strong><\/p>\n

Timely debt collection is crucial to keeping cash flow \u2013 the lifeblood of all businesses \u2013 flowing.\u00a0 Without it, there is little chance your business will survive, let alone thrive. Recently, business reporter David Koch recently flagged research<\/a> revealing Australian businesses are carrying $76 billion worth of outstanding invoices, while the Australian Securities and Investment Commission cites poor cash flow is as a factor in 40% of business failures.<\/p>\n

So, how can you avoid becoming a statistic? If you\u2019re experiencing issues with unpaid debt from customers, you\u2019ve most likely thought about engaging a debt collector<\/a> and asked whether this is the best way forward. Although debt collectors can have an associated stereotype, the fact is, debt collectors<\/a> are very professional & ethical and will ensure you see your debts reconciled and reduce the likelihood of your business becoming another statistic.<\/p>\n

Improve your business cash flow <\/strong><\/p>\n

Koch also writes of Fintech financier The Invoice Market\u2019s SME Cash Flow Crisis Report<\/a>, a report showing what Australian businesses are owed on average \u2013 a staggering $38,000. Worse still, the same survey reveals that all too many business owners are dipping into their personal savings or relying on credit cards to keep them afloat while they wait for these debts to come in.<\/p>\n

Professional debt collectors can collect money on your behalf and assist with recovering any bad debts owed to you. The right agency is ethical and efficient, and more importantly their methods preserve customer relationships.<\/p>\n

No more excuses<\/strong><\/p>\n

Looking deeper into the survey, the ABC revealed the excuses range from \u2018the cheque is in the mail\u2019, to \u2018being lost in the system\u2019 to \u2018reviewed internally\u2019. Hearing these excuses time and time again can prove to be a frustrating exercise and not one where your time is best spent. Handing these over to a debt collection agenc<\/a>y will save you this frustration and free up your time to focus on growing your business.<\/p>\n

Safeguard your business against bad debts<\/strong><\/p>\n

In the same way you wouldn\u2019t hesitate in hiring a lawyer to assist you with legal matters or a doctor for any health concerns, nor should you hesitate when it comes to hiring a professional debt collector to help improve your cash position. And the sooner, the better \u2013 research shows that the longer a debt has been outstanding, the less likely it is to be recovered in full. Professional debt collectors can not only help with the much-needed debt recovery, but they can assist with establishing safeguards for your business moving forward, from background credit checks to establishing terms of trade to credit insurance.<\/p>\n

Hiring professional debt collectors<\/a>, then, will not only take the debt recovery process \u2013 and all the headaches that go along with it \u2013 out of your hands, but free you up to focus on doing what you do best. Consider this move an investment, not an expense.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hiring professional debt collectors is generally considered the most cost effective solution to recovery unpaid debts from your customers. Find out why today!<\/p>\n","protected":false},"author":1,"featured_media":409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.marshallfreeman.com.au\/blog\/wp-json\/wp\/v2\/posts\/408"}],"collection":[{"href":"https:\/\/www.marshallfreeman.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marshallfreeman.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marshallfreeman.com.au\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marshallfreeman.com.au\/blog\/wp-json\/wp\/v2\/comments?post=408"}],"version-history":[{"count":5,"href":"https:\/\/www.marshallfreeman.com.au\/blog\/wp-json\/wp\/v2\/posts\/408\/revisions"}],"predecessor-version":[{"id":621,"href":"https:\/\/www.marshallfreeman.com.au\/blog\/wp-json\/wp\/v2\/posts\/408\/revisions\/621"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.marshallfreeman.com.au\/blog\/wp-json\/wp\/v2\/media\/409"}],"wp:attachment":[{"href":"https:\/\/www.marshallfreeman.com.au\/blog\/wp-json\/wp\/v2\/media?parent=408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marshallfreeman.com.au\/blog\/wp-json\/wp\/v2\/categories?post=408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marshallfreeman.com.au\/blog\/wp-json\/wp\/v2\/tags?post=408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}