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ost businesses extend credit to their customers these days. A business' competitive
edge may depend on the length and amount of credit they are willing to give
their customers. This also poses a problem for them especially when customers
do not pay on time. While there may be legitimate reasons to delay payment,
problems will arise if customers seem indifferent to the situation and refuse
to pay up. When this happens, businesses may turn to you for help in collecting
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Financial small business ideas or Collection Agency
You will need to rely on many 'creative' ways - short of doing anything illegal
- to persuade the debtors to settle payment. While this money making opportunity
may seem as one that is shady, it is actually a service very much needed by
businesses. Assuming a substantial amount is owed to the business, the owner
may prefer to give you a hefty proportion of this amount - perhaps up to 50%,
depending on your mutual agreement - rather than having to write it off as a
Your responsibilities will include contacting and setting up payment agreements
with non-paying people and in turn, paying the business the amount agreed upon.
You'll need to be familiar with the laws in your state governing debt collection
- what you can and cannot do - and know when to draw the line in your endeavours
to retrieve the debts. There are even women who have been successful in this
business so don't be put off even if you are of the fairer sex. Perhaps, a ladies'
approach is what is needed to be successful in this business.