Three Ways To Collect On An Outstanding Debt.
No matter what measures you take to try and weed out potential non-paying customers, sooner or later one or more accounts are likely to become past due. When you find yourself with a past due account on your hands, the worst thing you can do is ignore the problem. The more time that passes between the payment due date and the time that the customer is contacted, the less likely you are to receive the full payment. After 6 months, you statistically collect only 50% of the amount due and after a year that amount drops to only 25% of the original debt. If you’re serious about making a profit, there are three ways to handle collection on past debt; in house efforts, hiring a collection agency, or taking legal action.
Find another great article Photovoltaic Panels – Solar PV Panels