At a glance Learn why delaying debt payments triggers financial hardships. Understand how unresolved debts strain personal relationships and household stability. Discover expert guidance on preventing debt relapses and maintaining financial stability. Gain valuable advice from eCollect, a trusted debt collection agency serving Melbourne, Sydney, and Brisbane.
Continue readingInheriting Debt: How common is it in Australia?
At a glance Understanding Debt Inheritance: In Australia, you don’t inherit debt directly; the deceased’s estate is responsible. Types of Debts: Learn about secured and unsecured debts, guarantor loans, and their implications on inheritance. Managing Joint Debts: Discover the responsibilities associated with joint accounts and how location can impact debt collection practices.
Continue readingUnderstanding The Process Of Recovering Commercial Debts
At a glance Commercial debts are of different types, including unpaid invoices, loans, contractual obligations, and trade credit. The recovery process of commercial debts is divided into two key phases: assessing the debt and communicating with the debtor. Well-structured contracts provide clarity, legal protection, and mechanisms for enforcing agreements in debt recovery.
Continue readingThe Impact of Inadequate Debt Recovery on Your Business
At a glance Critical Cash Flow Impact: Inadequate debt recovery disrupts cash flow, hampering operations, investments, and commitments, casting a shadow on business growth. Reputation at Stake: Neglecting debt recovery damages a company’s reputation, triggering negative word-of-mouth and eroding trust among customers and partners. Strategic Solutions: Employing effective debt recovery strategies, including professional services and […]
Continue readingHow to Handle a Situation Where a Valued Customer Experiences Bad Debt?
As a business owner or manager, you work hard to build strong customer relationships. A valued customer is someone who has been loyal, dependable and has contributed to the growth of your business.
Continue readingThe Importance of Understanding the Debtor’s Mindset Before Debt Collection
Debt collection can be a daunting task, and it’s crucial to understand the debtor’s mindset before proceeding. Understanding the psychology of the debtor can help you collect debts more effectively and avoid unnecessary conflicts.
Continue readingDebt Collectors Or Lawyers – Who To Choose For Debt Recovery?
At a glance: Debt collection agency Vs. lawyers Best debt recovery services in Melbourne, Victoria.
Continue readingUnpaid Invoices – Here’s How To Fix The Biggest Cause Of Poor Cash Flow Management.
At a glance: Even profitable businesses may fail in the absence of proper cash flow management. When dealing with outstanding debts, it’s always best to have a commercial debt collector. Provide easy payment options to your customers, such as credit cards and direct deposit.
Continue readingHow Has eCollect Helped Australian Small Businesses With Debt Recovery?
Small businesses, regardless of industry, strive for the same goal: stable growth and maximising profitability. Businesses may have many different purposes, but ultimately their sole purpose is to return value to shareholders. Account receivable is an area of the business that is disproportionately expensive because the business has always paid for the stock and labour […]
Continue readingWhy A Debt Collection Agency Is Better Suited For Collecting Debts Than Yourself
At a glance: Debt collection agencies have trained professionals for strategic debt collection. Hiring a debt collection agency is a more objective approach to debt recovery. Best debt recovery agency you need to work with for better results.
Continue reading