What I love about my previous business in education line is we collect the fees in cash. It’s so much easier to manage and I don’t have to worry about Debt Collection from my customers. Unlike my business, hubby’s business is running on terms but not all of them are paying on time. They tend to delay the payment until it passes the due date and if the majority of the customers are unreliable, it’s going to put a strain on our own business.

That’s why we might need to hire some debt collectors to collect the remaining debt for us now when we are away in Bangkok. I don’t think these customers will remember to pay for their debt unless we are haunting them day and night! We can’t possibly be collecting the debt by ourselves now since we have to work on a new business. However, I will try to control the payments well. If possible, we will run more business in cash even if we won’t be able to get that many customers by doing so. It’s useless to have a bigger customer base unless all of them pay us well. See? Now we need to find a way of collecting the money back!

Let’s see if the lawyers can help out too. But I doubt that it’s going to be as effective as those debt collectors!