Lifecycle of bad debts
This is a timeline / lifecycle of bad debts that we see at Tempest. The work has been done, payment is due and now the debtor tries everything to get out of their obligation.
Bad debts refers to the amount that cannot be recovered from the debtors. After a debt has been written off and considered uncollectible, still can be recovered.
At Tempest, we have come across clients who have walked away from bad debts thinking it’s too hard and expensive to collect. Tempest is a debt-buying company and we buy debts outright or arrange a split.
Lifecycle of Bad Debts
Break the cycle of bad debts and engage with Tempest. After we purchase your debt, we work to disrupt the tried and tested delay methods that some difficult debtors use by tracking them down, serving demands, issuing liquidation applications, going to court (if warranted).
Essentially this leaves difficult debtors with a more difficult choice, and we are hard to ignore.
If you would like to talk to us about unlocking some of the value from your bad debts, give us a call at 0800 845 885. You can also contact us at [email protected]