C2C Resources Releases Tips on How Small Businesses Can Avoid Bad Debts

Today, in an effort to help save small businesses across the country, Atlanta based Commercial Debt Collection Agency C2C Resources released their top seven tips to avoid bad debts. Money is a huge factor for many small businesses that fail within the first few years, and C2C Resources is hoping that their new list of ways for small businesses to avoid bad debts can help some entrepreneurs avoid that fate.
Below are a few of the tips that C2C Resources has found to be helpful in the past on lowering and avoiding bad debts:
1. Research: Companies should always check into customer payment and credit history. This can be done by simply checking with other businesses who deal with that customer, or even paying for an online credit check.
2. Set Low Credit Limits: With new businesses and new customers, setting a low credit limit in the beginning is a great way to safely see how a customer pays their debts. Once they have proven themselves reliable, credit limits can gradually be raised.
3. Cleary Define Terms: Set up clear and concise terms and conditions for payments. Be sure new customers agree to these terms before any transactions occur. Having the terms and conditions on the company website and having them attached to invoices in very helpful, and serves as a friendly reminder of business agreements.
4. Be Proactive: Companies who are prompt with sending invoices and immediately chasing down past due debts are less likely to have problem clients. Also, resolving disputes or order issues right away makes life easier for both parties involved. Letters, emails, phone calls, and even in-person efforts are very helpful when clients are late. The most important factor is timeliness.
These are just a few of the full list of ways small businesses can help stay afloat by avoiding bad debts and problematic customers. For the full list of ways to avoid bad debts, please visit the full C2C Resources blog post on saving small businesses from debt here.
About C2C Resources
C2C Resources is a global Commercial Debt Collection agency headquartered in Atlanta, Georgia. The company collects commercial debt on behalf of their over 25,000 clients and is considered one of the top agencies in the country. The executive team at C2C brings more than 60 years of experience helping businesses collect their accounts receivable.C2Cs powerful combination of Profit Maximizer, InfoMax Collection System, and Legal Forwarding Edge, can help your company be more effective with your own in-house collecting and maximize recovery of accounts turned over for collection. For more information, please visit http://www.c2cresources.com.