A lot of businesses in Singapore, both large and small, are constantly finding it difficult to get back debts owed to them by clients, business partners and other entities in their business sectors. There are a number of fundamental reasons that make it hard to collect debts, most of which can be entirely attributed to lack of knowledge on the best procedures to go about debt collection.
Even though debt collection is a worldwide problem, there are ways that it can be solved and debts collected successfully. Below are 8 globally known tips that you can use here in Singapore to successfully collect debts:.....
What is the average time taken to recover a debt?
This question comes up often. Every day in fact. People want to know when they are going
to get paid for a product or service that they’ve already provided.
There is no straight answer. There are many factors that come into play when engaging in
debt collections and everybody’s situation is unique.