For many businesses outstanding invoices are their largest asset. Overdue bills are a nuisance and a distraction from what you and your staff should be doing. Late payments will always occur whether due to a client’s inability to pay or, more frustratingly, because of a customer’s management policy to deliberately exceed agreed credit terms. The cost of late payments can have a debilitating effect on a company’s cash flow and it’s ability to trade effectively. DebtNet can effectively help recover overdue debt for you.

The debt collection process works as follows. A combination of letters (minimum four letters), emails and phone calls are sent and made to the debtor. Since each debt is different, the debt collection procedure will vary from case to case, although we have found that the follow up telephone calls (after office hours, where necessary) tend to be most effective in the collection process. The collection effort is escalated with each attempt to collect, in the last instance recommending to the debtor immediate payment, or face the possibility of legal proceedings and the implications and costs thereof.