If you are struggling to be paid for the goods and services you have provided, it may affect the profitability and cash flow of your business. It is, therefore, important to establish a process to manage payments and recover debt.
These are some steps you can take to recover outstanding debts, including:
- checking contract terms to see when payments were due
- regular monitoring of when payments are due and received/not received
- contacting the customer in writing to request payment
- keeping records of all customer correspondence
- setting up regular payment reminders
- sending a formal letter of demand
- considering hiring a debt collector if the customer still won’t pay
- considering taking legal action
- doing a property search on the Personal Property Security Register (PPSR) to recover unpaid goods.
Some of the steps above relate to good record-keeping and regularly following up on outstanding invoices, which may lead to payment.
Other steps, like engaging a debt collector and taking legal action, may require a higher financial input from you to recover the debt.
It may be that this financial input, coupled with non-payment of outstanding invoices, leads to a cash flow problem for your business, with your own creditors demanding payments from you.
This is where Business Debt Rescue may be able to help.
As specialised business debt negotiators, Business Debt Rescue works with your creditors to leverage a better outcome after a period of negotiations.
We are specialised negotiators, not bankruptcy administrators.
What this means is, as negotiators, we aim to protect your credit rating from bankruptcy listings while leveraging your overall profile for a better deal with your creditors, and we maximise your savings by personalising and tailoring our negotiation with your creditors to get your loans partially or fully waived under ideal circumstances.
Negotiating your commercial loans may be a better outcome compared to insolvency or bankruptcy.
If you are facing overwhelming business debt, Business Debt Rescue can step in and negotiate with your business creditors, while you do what you do best – run your business.
For qualified clients, the aims of our service and potential outcomes for your business are:
- Engaging in negotiations with your creditors regarding existing business debts
- Establishing manageable payment plans with each creditor
- Reducing your debts by as much as 50%, and in some cases, completely waiving them
- Minimising or halting the interest and fees incurred with your creditors, whether short or long-term
- Advocating to the Ombudsman on your behalf, if necessary, to secure a fair outcome for you
- Connecting you with a reputable lending specialist to assist in applying for a debt consolidation loan to settle your negotiated debt balances
- Halting any legal actions
Obligation free quote
If you want to learn more about our service, please enquire here. Our friendly team will reach out by phone soon after you enquire. In that conversation, they will discuss your current circumstances with you and ask you what debts you are currently struggling with. If you express an interest in working with us during the call, they will also ask you about the date you would like us to start working for you.
Soon after that call, your nominated team member will send you an obligation-free quote with further information and a link to complete our Business Debt Rescue Application form.
If you have further questions about our process after receiving the quote and application form, don’t hesitate to contact your team member to discuss.
We can assist your business by negotiating with your creditors for better terms.
Don’t delay, enquire today.
