New technology start-up, lessdebtors.com, is launching a world first website today that is designed for small and medium businesses around the world to list their bad debts for free so collection agencies can propose to collect them.
Less Debtors Managing Director, Jody Lane, says that one of the effects of the recession is that debtor days are increasing. Some businesses are finding it difficult to take action quickly enough to recover their money, while others just don’t have the resources to negotiate the best collection solution with multiple collection agencies. Instead they chose the first collection agency they call, so they don’t know if they are getting a good deal; or they waste time chasing bad customers that aren’t paying their bills when they could have been selling more to new and existing customers.
LessDebtors.com changes all of that by providing businesses anywhere in the world with an easy way to list their bad debts so debt collection agencies come to you with proposals to collect them. This means that you can be sure that you are getting the best solution and price while allowing you to concentrate on more productive activities like growing your business.
Businesses can list a debt from two days or up to a month depending on their preference, but they can award the tender to any agency that responds at any time throughout the process. And because every bad debt is different, businesses may choose different collection agencies for different jobs based on the agency location, their results, the number of employees they have, whether or not they have a code of ethics or operate a trust account, and of course – price.
The timing of this service coming to market couldn’t be better and Lane hopes that this service will help more businesses around the world increase their profitability and help collection agencies to grow their portfolios.
