{"id":1103,"date":"2023-01-04T12:22:00","date_gmt":"2023-01-04T12:22:00","guid":{"rendered":"https:\/\/businessyield.com\/?p=1103"},"modified":"2023-01-05T14:14:46","modified_gmt":"2023-01-05T14:14:46","slug":"debt-recovery","status":"publish","type":"post","link":"https:\/\/businessyield.com\/customer-relationships\/debt-recovery\/","title":{"rendered":"5 Quick Bad Debt Recovery Strategies","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"\n
People are hard to predict, and a lot of things might go wrong when you try to go about debt recovery the wrong way. When emotions and self-control are overridden in your pursuits for bad debt recovery, things might go around and you become the debtor. This happens, especially when you act outside of the provision of the law.<\/p>\n\n\n\n
Sometimes filling a court case for bad debt recovery might mean incurring and spending more money than usual, as legal justice costs money and time too.<\/p>\n\n\n\n
Using force to go about debt recovery can bring you the money but can as well land you in jail. I understand that emotions take laws into your hands as people can be totally insensitive and selfish, especially when paying back their debt. So what actually can you do to recover your business debts?
1. Change the debtor’s perception
2. Involve a legal practitioner
3. Diplomacy is key
4. Take preventive measures
5. Weigh your relationship with them.<\/p>\n\n\n\n
Before we dive in let’s define the basic terms like debt, debt recovery, and bad debt.<\/p>\n\n\n\n