Debtors are always trying to negotiate their payment at the time of bad debt collection. Here we are sharing some common excuse of debtors and their solutions so that you can convince them to pay your money.
1. I do not have enough money at this moment
In one of the most common excuses, the smart debtors will try to buy themselves some extra time, only to say that they have no money to pay at this time.
Answer: Ask them to fill in financial statements. There is a ready and available online send to it. If you want to use our template if those who say it is true, then they will not hesitate to complete the financial statements. Then you can work with people who can find out. If they deny, then let us know alternative options, which is a court order, and then to appear before the court to reveal their property and liabilities, a subcontractor Do you want to do it in a simple or difficult way?
2. I promise to pay within two weeks
The repeating offense lenders will often promise about payment. They have a bad habit of not keeping those promises
Answer: The document promised and make sure that they stick to it, they have put it in writing, the email will do it. Keep detailed notes of each promise made and fulfill every promise. Call and email them right before and shortly before their due date. If the first promise is broken, then immediately subcontract the debt collector. If they break the promise, then they are likely to break it again, so in my opinion, once the promises are broken you cannot show mercy.
3. I will call you tomorrow
Perhaps the most frustrating type of debtor is the one, who promised to call in the future, but he never does. And then they stop ringing their phones completely.
Answer: Whoever does not bother to inform you of your situation, clearly there is no intense desire to maintain the business relationship with you, so this type of debtor should immediately go through his collection process. As debt collectors, we will not be weak in these situations.
4. I want copies of all documents
Generally, this is another delay or avoidance strategy for not paying you. This is a very common stability strategy.
Answer: In the first example, provide all the documents to your debtor. In the form of loan collectors, we always send all the documents to the debtor with the first letter of demand. In this way, they have no excuses. We have only one document ready to go at any time. That's why you should emphasize updating all your records.
Key takeaways
Thus, there are a lot of excuses that you can witness, while claiming your hard earned money. In order to prevent such drama, it is vital to hire a reputed bad debt collection agency to get the job done easily.
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