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CITY OF MBOMBELACREDIT CONTROL AND DEBT COLLECTION POLICY AND BYLAW[COUNCIL RESOLUTION: ___ DATED ___ 2017] DATE OF COMMENCEMENT: 01 JULY 20172017/18 DRAFT BYLAWEFFECTIVE: 01 JULY 20172TABLE OF CONTENTCHAPTER

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How to fill out credit control and debt

01

Gather all necessary financial information such as outstanding invoices, payment terms, customer details, and credit limits.

02

Communicate with customers regarding overdue payments and remind them of their outstanding debt.

03

Monitor the aging of receivables and prioritize collection efforts based on the age of the debt.

04

Negotiate payment plans with customers who are unable to pay their debt in full.

05

Update records and documentation of all interactions with customers regarding their debt.

Who needs credit control and debt?

01

Businesses of all sizes that offer goods or services on credit terms.

02

Individuals or organizations that need to keep track of their accounts receivable and ensure timely payments.

03

Creditors who want to minimize the risk of bad debt and maintain healthy cash flow.

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What is credit control and debt?

Credit control is the process of monitoring and managing credit and debt refers to the amount of money owed to a person or company.

Who is required to file credit control and debt?

Businesses and individuals who extend credit to others or have outstanding debts are required to file credit control and debt.

How to fill out credit control and debt?

Credit control and debt forms can be filled out online or submitted via mail with all relevant information and documentation.

What is the purpose of credit control and debt?

The purpose of credit control and debt is to ensure that creditors are aware of the amount of money owed to them and to track payments.

What information must be reported on credit control and debt?

Information such as the amount owed, due dates, payment history, and contact information must be reported on credit control and debt.

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