As I travel around the Canterbury region the subject of Debt Recovery is never far away from conversations. A lot of businesses are finding that cash flow is incredibly tight and the need for Debt Recovery to get money in is becoming increasingly vital.

However, I have also had conversations with several businesses who don’t want to attempt Debt Recovery to get that money owed into their bank account. Reasons why vary from “it’s too hard”, “it’s too old”, “they’ve moved away” “we just write it off after a few months” and more. The amounts owed vary but many are in the several thousands of dollars category.

To launch a Debt Recovery process with EC Credit Control, requires the initiation of a voucher. Is it not worth some attempt to recover several hundreds or several thousands by just utilising a Debt Recovery voucher. If your Terms of Trade are robust enough, even the cost of that Debt Recovery voucher can be passed on to your debtor, so does it not make economic sense to spend to get your money in?