Many companies start managing their collections as soon as the invoice is late. This is a reactive attitude that delays the deadlines for completing problems, thus extending the company`s collection periods. Next, we`ll tell you everything you need to know to create good collection management. At this stage of collection, when the creditor makes collections and communications to customers who have had significant delays in the payment of their proceeds. Usually, this phase starts after 30 days and up to 90 days late from the original payment date. 5 5 Personal and legal domicile Seized property Bonds or joint and several guarantees 7.- Judicial proceedings (general and specific aspects of the procedure and procedure, see tables and tables in annex) A).- Means of preparation for the trial (confession and/or judicial recognition). B).- Ordinary commercial procedures (claim, judgment and enforcement). C).- Trial of the commercial executive (claim, embargo, condemnation and execution). 8.- Third party credit and collection recommendations.- Doubts and questions Later, when the first day of delay is generated, this recovery management must be continued by the attempt at communication, either by telephone, e-mail, message or in any other way to deliver the notification of the due date of the debt. Thus, the customer will keep the information in mind and reduce the chances that, for example, he will use the money for another engagement. Another strategy you can use to successfully manage collection is to offer the customer various options that motivate them to make the payment on time or at least in less time.
Keep in mind that there are also other channels that can be used for collections management, such as social media, text messages, or an app that makes communication easier. There are many ways that technology offers you to improve the management of debt collection in a company. There are different tools you can put into practice to achieve more effective and efficient collection management that allows you to strengthen business relationships with your customers without having to resort to extreme measures that become real headaches. Payment flexibility is a great option when it comes to debt collection: remember that the main goal of debt collection management is to reduce accumulated receivables before they become uncollectible. The process includes both the current portfolio and the short-term delinquent portfolio. This is the initial delay phase, which varies from 1 to 30 days of delay or failure. This type of collection is managed internally by the company from the financial department or more precisely by the debt collection department. At this point, it is important to use communications and complaints for failed customers.
For this purpose, the different digital channels are used, the phone call or, in the last place, because it is more expensive, a personal visit. Through the collection process, companies can obtain the values that correspond to the debts that their customers have concluded with them. The positive cash flow and liquidity needed to drive growth and cover the administrative and operating costs of the business depend on collection management. In cases where more than 30 days have elapsed since the date of payment, this is usually already recognized in an extrajudicial recovery phase. If you do not acknowledge a debt, send a letter to the collection service provider and ask for a debt check. If, when you receive the validation information, you do not acknowledge the debt or feel that the debt is not yours, send a dispute resolution letter to the collection agency to let them know that you do not owe some or all of the money and ask them to send you the debt review. Be sure to send the dispute resolution letter within 30 days. Once the collection agency has received the letter, they should stop trying to collect the debt from you until they send you the written debt verification, such as the original invoice showing the amount you owed. Remember to send your letter by registered mail and ask for an acknowledgment of receipt so that you can prove that the collector has received your letter. Keep a copy of the letter for your records. Did you know that you have legal bodies in your favor to facilitate the management of your collection? Download the e-book „Everything you need to know about the 30-day payments law! The courts are not yet involved in this phase of the collection.
