Debt Collection - Debt Profile

Few debts are the same as any other. However, there are some common variables:

• Dollar amount of the debt;
• Age of the debt when placed;
• The type of debtor (non business person, sole trader, partnership, trust, company);
• The whereabouts of the debtor (do we know where they are?);
• The financial means of the debtor;
• Type of debt (dishonoured cheque, credit account under payment, credit account non-payment, retail or business-to-business)
• The existence or otherwise of an effective contract.

These variables affect the collectability of a debt and the collection process that we would recommend.ecommend.