Collection Agency, commercial Debt recovery agency, debt management, Debt Recovery, Debt Recovery Services, private debt collectors

Borrowers Perspective/ Debt collection

Small business owners, learn the definition of “delinquent” the first time a customer fails to pay for something on time. After all, cash flow is essential for the well-being, of running a business especially in the early days, and delinquent customers can negatively affect the cash flow by delaying payments and not maintaining the committed dates.

Delinquent debt is money that is owed beyond 30 days by one party (the debtor) to another party (the creditor) for goods or services provided. Generally, debt collection becomes more aggressive as the length of time that the debt remains past due increases.

A debtor borrows money with all good intentions to return ,of course smiling ear to ear, as its always the receiving psyche that is on the happier end of the pole. Even for a borrower there is a lot of planning, strategizing, re designing that takes place in managing the business especially when the need to borrow arises. Some maybe smart in their financial management in rotation of funds understanding the nuances of money-lending terms while some others may not have the financial wisdom for money management.

However, in spite of all precautionary measures it is possible for a borrower to default for reasons beyond his control –

Economic fluctuations

Political upheaval


Family emergency

Delay in inward payments

Unexpected loss

Poor sales

A Borrower may genuinely face challenging fronts during repayment putting him in an embarrassing situation and a tight spot. Or there can be just lame excuses for not paying. There’s no way to know whether any of this is true, but  it is important for the creditor to be firm and unapologetic when it comes to delinquent payments.

Outsourcing the services of collection agencies who are professionals in the field like Aspira One would be an asset to deal with the delinquent payments and ensure the borrower will not be a repeat offender.

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