| sinesses suffer from the issue of bad debts | | | | because it brings them new customers and helps |
| (accounts receivable that will most likely remain | | | | support their business. Rather than try and |
| uncollectible and will be written off). These debts | | | | âkill themâ and maybe get |
| appear as an expense on the company's income | | | | nothing [because there may be other creditors] |
| statement, thus reducing net income and most | | | | you can work with them to grow their business |
| companies make a bad debt allowance since it is | | | | by encouraging new customers to go there. |
| unlikely that all of their debtors will pay them in | | | | Always remember what the Roman playwright |
| full. | | | | and philosopher said âHe that does good |
| ⢠What if you came up with a way to | | | | to another does good also to himself.â |
| ensure that all your debtors do pay their debts? | | | | Copying and distributing this article |
| ⢠What if there were some creative | | | | Ormita provides free updates about the generic |
| ways in which you can ensure that you collect | | | | benefits of barter to those interested in local |
| bad debts and save your money as well as the | | | | currency, community currency, countertrade, |
| debtor? | | | | reciprocal trade, barter exchange, time dollars, |
| More often than not a debtors does wish to pay | | | | hours and other forms of community trade |
| back their debt but may lack the funds to do so. | | | | vehicles. |
| Chasing anyone through the legal system is both | | | | You may freely copy and distribute this article |
| time-consuming and costly and there are no | | | | provided that you attribute the author and/ or |
| guarantees that you will get paid, especially if you | | | | source as the Ormita Commerce Network. |
| are not the preferential creditor. | | | | About Ormita |
| If the a creditor can come up with some | | | | The Ormita Commerce Network spans 5 |
| alternate way to collect a debt then they will not | | | | continents, with direct representation in more than |
| just save themselves time and money but it will | | | | 17 countries plus additional partnerships in a |
| also help maintain the relationship between | | | | further 59 countries. The business allows |
| businesses. Some creative and new ways to | | | | companies to exchange goods and services on a |
| collect bad debt are listed below: | | | | reciprocal trade arrangement in order to expand |
| ⢠Encourage them to work on a payment | | | | their reach, access new customers, improve their |
| plan: If the business that owes you a debt cannot | | | | buying power, monetise excess or unsold capacity |
| pay all at a time, work out a payment plan with | | | | and improve profitability. |
| them. Formulate an easy plan that depends on | | | | Some of our Websites |
| their ability to pay. Getting payment in small | | | | Ormita Commerce Network Australia â |
| amounts eventually is better then waiting forever | | | | Ormita Commerce Network Canada â |
| for a large sum to be paid back that might never | | | | Ormita Commerce Network India â |
| be paid. | | | | Ormita Commerce Network Mexico â |
| ⢠Help sell their products for them and | | | | Ormita Commerce Network New Zealand |
| take a portion of the sale price: As you already | | | | â |
| have an established business and reputation you | | | | Ormita Commerce Network United Kingdom |
| can help your debtor to improve their business. | | | | â |
| Consider advertising their product or service to | | | | Ormita Commerce Network United States of |
| your customers. This way their sales will increase | | | | America (USA) â |
| and you can fix a part of sales as a payment on | | | | For Licensee, Franchise and Partnership Enquiries |
| the debt. | | | | please visit : |
| ⢠Take their products directly off them: | | | | Report this article |
| You can also consider taking their products | | | | This article is free for republishing |
| directly from them. For example, if your debtor is | | | | Source: |
| a furniture seller, collect their furniture in amount | | | | Republish this article |
| for your debt and sell, or barter, it to get what | | | | Ask a Question About this Article |
| you need. | | | | >> Galleria Lucchese--14 Dickens |
| ⢠Get them to join a barter exchange: | | | | Miniatures.Need information made by, costs, |
| Encourage your debtor to join a barter or | | | | carrying case where can they be purchased? |
| commerce network that will sell their product or | | | | >> Where do I find the dollar amount of |
| service for them and give you barter credits. You | | | | Social Security Tax receipts for a given year? |
| can then use these barter credits to buy things | | | | >> Enfield ,tower flintlock 1868- looking for |
| YOU need â just like cash. | | | | firing hammer for 1868 tower # 682. Joe C., |
| These methods can save you money and save | | | | >> Az community property state |
| the debtor. It saves you collection fees and time | | | | exemption laws ... |
| and saves the person who owes you money | | | | |