Are cashflow issues and trouble communicating with your creditors causing you:
- Pains in your heart
… Your phone keeps on going off.
… The letters are flying through the door.
… Threats of legal action.
… Tax bills.
You haven’t got space to breathe.
“This will effect your credit history” is going through your mind all day.
………You’re feeling consumed………
Believe it or not, I know what you’re going through. I’ve been through a lot of it myself.
(But that’s a story for another day.)
Creditors sometimes come up with erroneous payment plans, ones that only satisfy their targets. They don’t get YOU, or YOUR business needs. Communicating with them can be frustrating.
So, what can you do to make your life easier and help get yourself out of your current situation?
Here’s 4 ways you can get over the nitty, gritty with your creditors:
1) Call them, or pick up their calls
I understand the pain and the “what if” questions.
“What if they cut off my supply?”
“What if they repossess my property/ car/ lorry/ truck?”
“What if they change the locks …?”
But let’s think about this for a minute. Every time you reject their calls or refuse to call them back, they’re making a record that you are ignoring them. Keep the communication going.
Take ownership of the issue.
Even if they haven’t done what you’ve asked them to do. Even if your previous complaints have fallen on deaf ears. Pick up the phone and take control.
If you’re still struggling with bad communication … move on to the next step.
2) Speak to a Manager
All large organisations will have a complaints process.
Try speaking to the Manager of any Employee you believe is ignoring you, before you decide to formalise your complaint.
Send them a letter or an email. Putting it to them in writing, means it will be recorded, and they’re more likely to take a different view of the way they’ve treat you.
Failing a satisfactory response, you could take to alternative methods. Although I don’t recommend social media when you have a balance outstanding.
3) Break it down for them
Ask them to get someone other than your contact to speak with you, to give you a chance to explain your issue to them.
Talking to someone who doesn’t understand you can be like banging your head against a brick wall but sometimes all it takes is someone with a fresh perspective.
If necessary, request an extended payment plan, or ask if there is a payment holiday that is sustainable for you.
Work towards finding a solution.
4) Get an expert on board
If you don’t have the time, and your Accounts person is already under pressure to allocate cash and chase owed money, then outsource.
Find someone who can help with your cashflow problems – this will alleviate some of your stress.
Having successfully conducted this for previous clients of mine, I know they are always more at ease with themselves and able to grow successfully knowing it’s taken care of. Something that was previously causing them a lot of pain and stress.
If you need further help and advice regarding your own cashflow, get in touch for a FREE 20 minute, no obligation chat.