Successful Debt Recovery Makes for Happy Clients

We all want happy clients. Happy clients come back and give us more work. Happy clients pay their bills on time and tell their friends and business associates to use our services. Debt Recovery can result in a happy client or an unhappy client. In order to have a happy client debt recovery must be successful.

Successful debt recovery either results in our recovering money for the client or telling the client early on that the money is unlikely to be recovered to avoid further expense. When money is recovered I would regard any money that is in excess of legal costs to be a good result. Consider the clients expectations from the outset. If a client thinks they are likely to recover all their money, plus legal costs, plus interest then they will be easily disappointed and reluctant to compromise. Remind them, tactfully, that they are talking to you about debt recovery because they have in some way put themselves in the position of being owed money. It is your job to advise them on the best way of recovering the debt and then take the action needed to maximise their chances of the debt being recovered.

Successful Debt Recovery begins with good letters of demand and ends with payment in full or a deed for payment by instalments.  

And a happy client.

By Eric Kalde

For more information on Debt Recovery, view Eric’s publication, Debt Recovery Suite.