These are a few strategies which can help to minimize bad debt issues:

• Negotiate quick payment terms
• Include penalties for late payment within those terms
• Offer incentives such as discounts for early payment
• Conduct customer credit checks
• Review customer payment habits regularly and act accordingly with slow or non-payers
• Send invoices out immediately
• Follow up with invoice reminders
• Use electronic or other convenient payment methods
• Hire a debt collection agency who have the experience and training to collect effectively

For a more personalized response, or for a review of your current processes, please get in touch with us.

Our clients work closely with their dedicated FST Account Manager to create the right  debt collection program. 

We offer transparent reporting, data optimization and on demand insight to our progress and results and provide custom training or certification requirements of a specific customer type or industry. 

To discuss your specific needs, get in touch with us.

We offer a range of convenient payment options :

• Credit via our online secure portal
• E-Transfers
• Bank Direct Deposit 
• Cheques

The following factors highlight the importance of acting quickly in debt recovery:

• Some customers need reminding of their debt, due to forgetting about it or having a mentality of not paying until they are chased on their bills.

• To not create a precedent where your customers feel they can delay paying your company’s bills on time because you have previously allowed late or non-payment.

• When debtors struggle financially, it is imperative to get paid before they file bankruptcy or insolvency, at which point the debt becomes unrecoverable.

• The Statute of Limitations on debt: there are legal restrictions on how long you can collect debt which vary depending on factors such as the country and state or province of the sale and the industry in which you work or the product you are billing for.

Our Headquarters are located in Toronto, Ontario with agents located across the US, CANADA, and Offshore

Timeframes vary based on the type of debtor and the stage of collection. While we establish specific timeframes with each client, our general goal is to categorize all cases into the following main categories within 4 weeks:

• Payment received

• The debt is disputed and under investigation

• The debt is uncollectable (eg. bankruptcy  or insolvency)

• Legal action needed

If you have any further questions or want to discuss your specific needs, please reach out to us. We're here to help. 

You can either fill out our Contact Us form, call us at 1-800-790-3141, or email us at compliance@fstcccs.com.