Many New Zealand companies, large and small, are unsure about the best way to deal with bad debt, especially with the recent addition of new regulations and guidelines around lending. To help businesses navigate the new rules, we’ve compiled a list of questions and answers we think you’ll find valuable.
When you can’t do what you know is right because something’s stopping you, it’s very different from flatly refusing to do it.
Einstein’s famous insight that doing the same thing over again and expecting a different result is tantamount to insanity, rings true on so many things. Including recovering bad debt.
If you want to put a fire out, you don’t throw gasoline on it. It’s pretty obvious it’ll make the fire bigger and burn out of control. So when people are already struggling with paying off debts, layering significant fees and penalties on those who actually choose to pay isn’t fair.