When is the right time to handover?

Research shows that the longer the debt remains outstanding the more the risk of non-recovery.

Generally, most creditors hand over 60 -90 days overdue as the debtor has already broken the terms of the credit. The debtor has already shown their lack of response and payment.

Indicators of when debt should be handed over

1. The debtors’ contactable telephone numbers are no longer active
2. Repeated requests from the debtor for supporting documentation and invoices
3. The debtor claims he/she never received the demand/invoice for payment
4.  No response from the debtor on mail sent
5. Repeated assurance by the debtor that the matter will be attended to
6. Broken promises for payment
7. The responsible person who should be making the payment is never available
8. Debtor becomes arrogant – “Do whatever you want”
9. Correspondence becomes returned mail
10. The invoices have become disputed with various raised objections as to the service rendered despite promises to pay
11. The debtor claims to be unemployed or bankrupt
12. The debtor accuses you of using the wrong contactable details.
13. Assurance that payment was just made via EFT.