Words have power.
I’m not against a handshake agreement. There are times where trusting someones word brings great satisfaction and creates a strong relationship. As a debt collector, I more-so see a persons word as a way to find the true intentions or situation. Today, we will look at some of these clues to help spot a bad debtor before they become an issue.
Specifics are key.
Promises
Daily, we see debtors promise “I will make payment this week”. We also know 4 of these 5 will not keep to their promise. Without specifics, there is nothing stopping a debtor riding out the week and forgetting (intentionally or not) that they have not kept to their word.
When we are chasing a payment, we always strive to get a date and time for payment. If that time passes and we have not received word, we know to immediately followup and retrieve the payment before more delays ensue.
Dismissal
“Worry about it after the job starts, we can work out the rest then”. A recipe for disaster! Too many times we receive a debt where the debtor claims they never agreed on a variation. As the creditor, it is your responsibility to provide proof of your debt. Without any written requests and confirmed amounts, it can be difficult to collect this type of debt.
If you are to partake in any similar type of agreement, we recommend that you put conversations in writing (such as a QBCC variation form) so that there is no question what is requested. We are currently creating a scope amendments system for free so you are able to update your job on the run. This means you and your client will have signed copies of any variations or verbal agreements in a swift manner.
What you can do.
The main purpose of this post is to push for more written confirmations. Word of mouth is all well and good until someone needs an excuse. Push your clients for specific dates and details. Don’t trust promises, trust results!
A nice cheeky segue into trusting the results of our debt collection services. If you have been unable to spot a bad debtor before a debt occurred, let us use our knowledge and tools to right the wrong. Lodge your debt with us or contact us so we can work to find the best way to resolve your situation.