The reason why people should always give it a thorough thought before lending money to friends is since in the end, you just might end up losing both the friend and the money. But then there are occasions when you directly do not lend the money to the people, but they somehow own you; but then again, you could have given them money directly as well.
But most of the times, issues like these come up when you have rented out properties and when the tenants just won’t pay you. On the other hand, there are many occasions when you provide services and even product on credit and you end up getting excuses, but not the money that they owe you. Since irritation like these should never be overly tolerated…
Here are few of the effective ways that you can use to collect what people owe you.
- Remind them in a more direct way but avoid reasoning
One of the biggest faults that people make when they want to collect what people owe you is when you start to reason on why you need the money. The moment you do that, you bring your authority down and hence, the person who owes you start to think that they can delay what they owe you for as long as they want to. Hence, if you need commercial debt collection Melbourne to collect the money that they owe you, what you should be doing is being direct about the need of the money and nothing else.
- Hire a third party to do it for you
When it comes to the commercial perspective, such as leased vehicles, it is a common occurrence for the vehicles to be taken away just like that when the payments due to not paid on time. Although you might not have such an authority, you can always hire a third such as a debt collection agency Melbourne. With the help of them, you send the owing parties all the scary letters with justification so that they will have to deal with that company, not you, who could be having a soft spot or two. Tolerating and giving time is okay – what is not okay is being vulnerable to be taken advantage of.
- Warn them about legal actions that you will have to take
You can always hire a property attorney and explain the situation and get them to acknowledge the owing parties to remind to pay what they owe. But if you went with the second option, it won’t be all too hard.