Like most lending institutions, your company is probably faced with the age-old business problem of managing bad debts and what to do about them when it becomes obvious that repayment will not be forthcoming. Baker, Bloomberg & Associates offers a service that will monitor business write-offs for you, so that an exact accounting can be made of the cumulative sums which should no longer be counted as assets to your company.
No one wants to give up on debt collection and simply abandon attempts at recovery of funds owed, and your company shouldn’t either. Before you write off a debt as lost, unrecoverable money, there are several avenues available to you that you should pursue first.
Baker, Bloomberg & Associates offers several of these services, and each of them should be considered before simply writing off bad debt as a loss. As a matter of fact, you should consider having our firm pursue some of those collection methods even after write-off, since the write-off itself is simply an accounting measure.
However, as a means of keeping track of bad account debt, it is definitely to your advantage to use our service for write-off auditing, so as to establish and maintain visibility for debts that are owed and have little prospect of recovery. Use your resources to run your business efficiently and manage the assets which are still in the ‘plus’ column – let Baker, Bloomberg & Associates audit those in the other column.