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Coping with bad debtors in your business
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[QUOTE="Carpon, post: 269136, member: 86701"] Bad debts are debts that cannot be retrieved and bad debtors are people that lead to bad debts. Bad debt is very deragatory and can detoriate a business and affect it's stability. So how can one be able to manage bad debts in business? ✓ Take note of Potential bad debtors: Get to know all your bad debtors and the cause of their lack of debt settlement. Make a list of such people. ✓ Avoid giving goods on credit to such people: After you have noted such people down, you must try and avoid giving them goods on credit. It may be hard at times especially if a good relationship exists between you, but you need to do this if you need your business to stand. ✓ Be careful while giving out goods on credit: Do not give out goods on credit to anyone without a crucial reason and confirmation of getting your money paid duly. ✓ Source for funds and put in place of the amount lost to bad debt if possible. [/QUOTE]
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Coping with bad debtors in your business
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