The Most Common Excuses That Debtors Make
The most important thing for a creditor, especially in these uncertain economic times, is to identify whether or not the debtor is having cash flow problems. Upon quickly determining that the debtor is not in a position to pay his or her dues, the time can be used to contact a debt collection agency or debt collection lawyer. The creditor must be aware that there are telltale signs to look for and these will be a clear warning that the debtor is unable to pay his or her debts, take a look at these most often overused excuses mentioned below:
A classic delay strategy that is very often used by the debtor is “Yes, of course! I will pay the account as soon as possible.” This is not only a delay strategy but also an objective to fool the creditor into thinking that the due amount will be paid momentarily. If the creditor was not provided by an exact date of payment or transfer of money to the creditor’s account the debtor will have to be contacted again.
In the case of the debtor using the following excuse more than once after receiving a single invoice, “I have paid the account, it must not have reflected yet”, be aware that it is most possibly a blatant lie. There is a rare possibility that the bank could be the guilty party. On that occasion, it is the debtor’s responsibility to pursue the issue with the bank.
The most common excuse of all is the debtor responds “I have not received an invoice yet” when asked about the payment of his or her account. As this is a plausible response, it is often used and it actually works. Please be aware that there are some tactics that can be used to avoid this problem. Make use of the tools on your computer by ensuring a receipt and ‘item read’ notification is set up on your emails. The other important method is to ensure that the debtor picks up a physical receipt from the post office.
To avoid any unnecessary time spent on delaying tactics from the debtor or without financing the invoice in any way, ensure that you contact a debt collection agency. For commercial and larger debt issues, contacting a debt collection lawyer is often the best thing to do.
JA Attorneys debt collection legal team is here to assist with commercial and sectional title issues/debt collection. Contact us today with your urgent matter.