Singapore debt collection best way to collect business debt

Singapore Debt Collection - Best Way to Collect Business Debt Business Debt Collection Singapore is expensive and in many case beyond the reach of most business owners. When tough economic times hit the number of delinquent accounts rise sharply.

If you own a business that services other businesses or professionals you probably are holding several thousand dollars in commercial debt. In many cases this debt is more than 90 days old.

If you have contacted the standard collection agency you already know that it is very expensive to collect debt. Many times these traditional agencies have minimum initial fees of $5000 or more plus additional cost for each debtor they contact. By the time they have collected your debt you may find that you will receive as little as ten cents on each dollar of debt you are owed.

Many business owners simply try to collect their bad debt accounts by sending letters to each debtor. After a couple of letters you begin to realize that this approach just is not effective. Phone calls are even less effective and frequently end up in confrontation. In addition you have wasted valuable time that needs to be dedicated to growing your business so you lose even more income.

However there is an alternative that is economical and effective.

Singapore Debt Collection is an effective and economical alternative to traditional debt collection agencies. Most online debt collection agencies have no upfront fees. In addition any debt recovery payments are made directly to your business. Because the process is online you can access to the process 24 hours a day and 7 days a week. The online debt collection agency will provide all the mailings for you at a price of $5 to $10 for each letter. Once you have entered the necessary information into their data base they do all the work. You can schedule a series of letters to be sent and then have the option of having the unpaid debt published to all three credit bureaus.

This user friendly service is very effective in collecting business debts. Any business owner will give due consideration of a letter from a collection agency. In many cases up to 30 percent of your past due debt will be collected after just one letter. Follow up letters that indicate the past debt will be reported to one of the credit bureaus will also be relatively persuasive. When you receive a payment from the debtor you simply enter the payment into the online debt collection agencies data base and the collection effort will cease. You can also modify the amount of debt owed in the data base to reflect any partial payment that may be made by the debtor.

Singapore debt collection is very cost effective tool that you can use to collect business debt. It will save you time and money while allowing you to control the process of Debt Collection Services.

The Singapore Debt Collection [http://www.singaporedebtcollection.com.sg/] website is, providing information on using Singapore Debt Collection [http://www.singaporedebtcollection.com.sg/] to recover all your business debt.