If you have been forced to make arrangements with your clients and have them pay off an account instead of settling it once off, get an acknowledgement of debt. This serves as a contract and will have all the payment terms in. Interest rates, payment amount, pay date, banking details, terms for when they default, etc.
In this article, Cathleen Breedt looks at the process of executing debt collection Court Orders against a debtor’s bank account.
During the Covid-19 pandemic, many people were forced to grant their debtors, payment holidays. Times have subsequently not necessarily improved and people now need to look at recovering the debt owed to them. Some employees still have not returned to work and some...
Times are tough and we put together some advice from a debt collector.
Our economy has taken a serious knock in recent times. It was frail, to begin with, and Eskom with its constant load-shedding was not making that any easier, but along came the oil war and Coronavirus which caused the entire apple cart to tumble.
How can an attorney add value to my debt prevention? It may seem odd that we are suggesting an attorney can add value to your debt prevention, but below are 5 reasons why you cannot have debt prevention without an attorney! Why would an attorney be of any assistance...
Why Debt Collection Remains A Necessary Expense : In a company faced with a multitude of financial obligations the added expense of legal fees paid towards recovery of bad debt seems like a double punishment. Having an outstanding debt and paying more money towards...
The short answer is YES! (Debt Collection Running To Court) - The collection of debt does not necessarily mean that you have to go all the way to Court, and more importantly, there is more to debt collection than only collecting the debt when it is outstanding. Let us...
Vetting is a process followed in which as much information as possible is gathered about the debtor being handed over, in order to ensure the maximum potential for a good result to prior to legal action being instituted. The rationale is that, if you know your debtor...
Having a clear credit record or a good credit score is of utmost importance, but why? And how does one ensure that your credit record is and remains clear in order to ensure that your credit rating or score remains at its maximum? Certain updates to a person’s credit...