{"id":565,"date":"2019-09-05T05:48:44","date_gmt":"2019-09-05T05:48:44","guid":{"rendered":"http:\/\/www.development-work.com\/mydebt\/?p=565"},"modified":"2020-10-27T05:50:13","modified_gmt":"2020-10-27T05:50:13","slug":"five-effective-debt-recovery-strategies","status":"publish","type":"post","link":"https:\/\/www.mydebtacademy.com\/debt-relief-strategies\/five-effective-debt-recovery-strategies\/","title":{"rendered":"Five Effective Debt Recovery Strategies"},"content":{"rendered":"
Businesses are generally about the exchange of goods and services with money or as part of a barter transaction (i.e. trading services) which occurs rarely. Many businesses allow clients and customers to pay them with credit when goods and services are provided in advance.<\/p>\n
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Effectively, this means that businesses are lending credit, treating their business as if they were a bank, handing out loans, and therefore assuming the significant risks that come with it without taking the due diligence taken to mitigate those risks.<\/p>\n
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While operating in this fashion is nothing new, the issues occur when credit is loaned but their customers then fail to pay when accounts are due. Though there are several legal options for this scenario, these won\u2019t guarantee that you get your money back, it\u2019s important to be prepared, especially considering that the cash flow and the unpaid invoices are one of the largest problems affecting businesses worldwide.<\/p>\n
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