What Are Some Simple Things My Business Can Do To Reduce The Amount Of Bad Debt We Are Saddled With?
The easiest way to decrease your amount of delinquent receivables is to get good information from each debtor prior to delivering any goods or services. Important information to obtain in advance is the debtor's: name, address, home phone, work phone, social security number, bank, and employer name and employer address. Another easy way to reduce your amount of delinquent accounts receivable is to always obtain a personal guarantee when dealing with a business entity.
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