Debt Collection Made Easy
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Finally someone has written a book that is easy to understand, interesting and fun to read on debt collection.
Don't believe me? Keep reading you might be surprised...

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‘Debt Collection Made Easy'

Introducing my book, ‘Debt Collection Made Easy’. You will discover tips that will not only make debt collecting easier for you but it will also help you to save your time and reduce your collection costs. I will show you how to collect your money more efficiently. I will take the mystery out of the court system for you. This book is a must for all credit managers and business owners.

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Collecting debts is never fun and it is very rarely easy to do. What’s worse is trying to keep your eyes open when you are reading books on debt collection. Let’s face it..........debt collection is not most entertaining subject but it is relevant to YOU and everyone else in business.

Debt Collection Made Easy is not like any other book you would normally read about debt collection. It is not a theoretical account. Instead, it provides practical advice and includes a number of resources you can use today to make debt collecting a much happier and easier experience for every small to medium size business owner. Learn how to influence your customer to pay you first, to then come back and make purchases from you, how to threaten your customer and how to carry out your threat with minimum cost and effort. There is also a chapter devoted to the court systems in each state and territory of Australia to show small businesses that they don't need to feel intimidated by the courts.

My name is Ian Renton and I am an Australian small business owner and also the author of Debt Collection Made Easy. I have helped tens of thousands of businesses in Australia and New Zealand to collect their money more quickly, using the very same steps that are included in this book. Now....I want to help you.






Ian Renton
Managing Director
Australian Credit Stationers
Phone: 02 9631 3366 or 1-800 226 202
Fax: 02 9620 4908 or 1-800 679 140


Do you need further convincing.......

Here is a sample of one of the chapters from the book ‘Debt Collection Made Easy’.


Chapter 2 - Why Grant Credit At All?

There is one and only one reason to grant credit. You grant credit in order to get a sale. If granting credit to your customers did not increase your sales, then quite simply you would not do it.

When you go to your grocery store, you pay by cash, EFTPOS or credit card. In fact there are many industries where it is very unusual to receive credit when you make a purchase. These include retail stores, restaurants, food outlets, entertainment venues and many more.

In fact, whenever we make purchases as an individual, most of the time we must pay upfront before the goods and services are delivered. Exceptions are telephone, rent and utilities such as rates, garbage collection, electricity, water and gas.

Most people pay all of the above on time even when funds are short since they know that the supplier has the power to withdraw these services.

There are a number of businesses that also operate like this. They believe their services are so important that they can entice upfront payments from their customers.

Business coaching is an example where upfront payments are made.

There are a number of businesses which sell their products on the internet. Almost without exception, upfront payment is required when you purchase on-line.

Direct debit payments are also common today. The increased technology in the 21st century means that it is easy to organise your credit card to be debited regularly or for money to come directly out of your bank account on a regular basis.

In fact, we do less business on credit today than ever before. This is despite a strong economy and unprecedented wealth in the western world. We have even become accustomed to paying upfront.

The question must be asked, "Why grant credit at all?"

When your customers are businesses, then you will most likely be competing with many other businesses for your customers. If you don’t offer credit, then you will need to have great products, great service and a great offer to compete. You will be competing with other companies that do offer credit. This is the only reason to offer credit – to compete on an even basis or better still, provide your business with a competitive advantage.

This is why mostly you will grant credit for 30 days. Usually, this is from date of statement, not from date of invoice. This effectively means that your customer can receive up to 60 days credit. If your customer orders on July 1, then payment will not be required until August 31.

Some businesses offer credit for 7, 14, 21 or 30 days from date of invoice. Other businesses expect payment on 20th of month following date of invoice. However, 30 days from statement is by far the most common form of credit terms.

Already, you can see a conflict developing between credit and sales. It is good for your cash flow if you insisted on receiving payment in 7 days. However, by asking for payment 30 days from date of statement, you are offering up to 60 days credit to your customer. This is a valuable service that you are providing.

30 days credit is then used as a tool to get a new customer and keep a customer. This goes back to the origin of credit in the first place. Credit was first granted to get a sale. Your credit policy is designed to maximise your profit. Never forget this.

Let’s consider two businesses with similar margins and similar cost structures. A business with $1,000,000 in sales and 5% losses due to bad debts will most likely be more profitable than a business with $500,000 in sales and 0.1% of sales resulting in bad debts.

Similarly, let us again consider two similar businesses as above. One has sales of $500,000 and collects its money on average every 14 days. The other business collects its money on average every 50 days and has sales of $1,000,000. Again, the second business is likely to be more profitable even though it will have a higher interest bill.

This book looks at how the credit function fits into the overall performance of your business. Too many businesses focus only on minimising bad debts and Days Outstanding. In fact, most books on the subject of credit management are only concerned with these two topics. Their focus is always about reducing bad debts and minimising days outstanding.

These things are important but there are two other things that are important and this book will not overlook them. One is increasing sales and in particular profitable sales and the other is minimising the costs of collection. There is no point in spending an extra $100,000 on credit management to save $20,000 on bad debts.

The money is in the selling. Business owners need to focus the majority of their energy on marketing and selling more of their products and services. The credit function is there to support this process, not to inhibit it.

This book is designed to give you systems to use credit to increase sales, reduce bad debts, collect your money more quickly and easily, minimise your costs and finally show you how to use the courts to collect money from delinquent customers.



 Australian Credit Stationers
ABN 37118647117
29 Smith Street, Parramatta NSW 2150

Ph: 02 9631 3366 or 1-800 226 202
Fax: 02 9620 4908 or 1-800 679 140

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