In Georgia, debt collection is a problem area for local businesses. Owners who are experiencing slow payments from their customers need better strategies. A consultant offers proven options for collecting debts more effectively. David Johnson Cane Bay is a consultant who provides careful strategies for collecting all outstanding debts.
Finding Debtors More Proactively
The first strategy is to conduct more proactive searches for debtors. More comprehensive search strategies help businesses collect from debtors who have gone M.I.A. The consultants utilize a variety of tools that help them identify the new location of the debtor. Social media and postal services help with the search and offer further insight into why the debt wasn’t settled.
Accounts with Higher Payment Potential
The consultants are trained to identify accounts with the highest payment potential. A full assessment of the business owner’s accounts determines which debts have the greatest potential. The service providers contact the debtors and secure settlement options. The consultants provide clear options for the debtor that encourage on-time payments. The debtors select from the available options, and the consultants secure payment details to manage collection efforts.
Reviewing the Debtors Ability to Pay
The debtor’s ability to pay is a starting point for negotiations. Financial hardships present issues for debtors and prevent on-time payments. A consultant negotiates with the debtor based on their ability to pay at least a small payment. Job loss and sudden illnesses are common issues that lead to delinquencies and overdue payments.
Finding a Solution for Debtors
Consultants are familiar with tactics that help the creditor collect and offers a better option for debtors. By negotiating, the consultant helps each party find the best opportunity without complexities. The ultimate goal is to pay off the debt without creating more conflict for debtors. The right solution offers benefits for each party.
In Georgia, debt collection and management services require business owners to hire a consultant. When overdue debts are preventing access to needed capital, it is time to let a professional take charge. Consultants are familiar with strategies that help businesses collect outstanding debts quickly. Business owners who want to find a better solution contact a consultant and schedule an appointment now.