3 Myths About Debt Recovery

How do you recover money from your debtors? We have all had experiences where someone takes our money and maybe never returns it. As a child, you most likely have been pranked by your mom when a family friend gives you money and then she collects it with a supposed notion of keeping it for you but never gives you the money back.

This is a childhood experience we can all relate with, we literally grew up having people owe us one way or the other.
Do you run a business and it’s on the top chart of unpaid debts ?, Do you have particularly “concerned” friends who tell you it’s impossible to retrieve your money ?

Well here are three myths you should absolutely know about debt recovery.

  1. Debtors won’t pay: That’s a lie, a big one! Not if you apply the best strategy and services fit to carry out the job of retrieving your money from debtors without conflicts. You need to consult Mwanga services for a remarkable debt recovery service in the most seamless and ethical way.
  2. Customers are always right: No, not a non-paying customer. This famous phrase “Customers are always right” is often used as an excuse for non-payment but this is incorrect, a customer may not pay where this applies;
    • The customer has no cash and can’t pay or
    • The customer has bad complaints and dissatisfactions about the poor quality of goods and services rendered and won’t pay.
    • These factors can be well avoided and improved on but in situations where these are absent, one of the best way to retrieve your debt is having a well-documented paperwork stating the terms and measurement of customers satisfaction of goods and services offered by your organization and confirmed by an e-mail, whenever a customer default in this, you stand a higher chance of retrieving your money.
  3. A reminder will ruin the chance: well, not if it is a polite reminder. Reminding your debtors of their unpaid debts in a polite way will amplify your chances of getting your money paid back. A human-voiced reminder or e-mail letter will do the work well.

Over the years at Mwanga, we have a good track record of successfully recovering outstanding loans and debts from customers in the most remarkable way with an innovative customer experience and we hope to keep that record for your business.

If you are interested in our services, you can contact us on info@mwanga.ng

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