Debt Recovery Specialists in the Netherlands
- from letters of demand to full litigation process via Dutch courts
- No joining fee, legal costs only on your instructions
- Rate 7 % of the payments based on No Cure No Pay
Forward copies of correspondence from Debtors to you
- Member of the Federation of European Credit Management Assoc.
P.O.Box 736, 5600 AS Eindhoven, The Netherlands
TEL 0031 40 236 57 84 FAX 0031 40 236 76 28
Improve your debt recovery
The faster you get paid, the better your cashflow position and the sooner you can put the funds to good use. So there's no point in complaining about your cashflow if you're not chasing up all the money owed to you the minute it falls due.
Don't fool yourself - your efforts are best spent collecting payment, not getting in new business. It has been estimated that a company needs to bring in five times the sum owed in extra sales to recover the loss associated with every bad debt.
Keeping track of debts
It is important to devise a clear system for chasing payment. This may involve written statements, telephone calls, official letters, final demands etc. It is also advisable to define when each of these is triggered, and to ensure that this policy is followed in every case.
Telephone calls may be a valuable means of chasing payment, particularly with longer-term customers with whom you have built a strong trading relationship. However, remember that you may need to have written proof of your attempts to chase payment, so don't be afraid to follow up your calls with an appropriate letter confirming the outcome of any discussions.
The following is an example of a debt tracking policy. Once established, it is important that all staff stick to the policy in their dealings with all customers.
Five top tips for better debt recovery