5.) What advice would you give to the business or consumer to avoid bad debt?
Bad debt occurs when businesses ignore little things such as:
- Checking the business and consumer background of the client before offering them credit
- Setting conservative credit limits for customers
- Waiting to release goods until after the payment has cleared.
- Likewise, waiting for direct deposit payments to clear before shipping goods and material
- Sending out an invoice immediately to the responsible person once the job is complete
- Provide all the relevant information on your invoice to make payments easy
- Keeping in contacts with your clients regularly
- Offer a small discount to your clients if payments are made early or in advance.
Marcadis Singer, PA
5104 South Westshore Blvd.,
Tampa, Florida.
Phone: (813) 288-1881
Avoid Bad Debt – Top 12 Debt Collection Q&A
