A bad debt is money owed to you that you can’t collect.
Bad debts occur when you provide products or services on credit.
While some customers just need more time to pay, others (hopefully a small number!) never will, and the income from the sale is never realized.
Because of the time lag as the non-paid sale becomes an overdue account, you go through various collection procedures, and the overdue account eventually becomes a bad debt, you may not realize that you have a bad debt until a later tax year.
DEBT LEX HOLDINGS & ATTORNEYS specializes in Corporate and SME Debt Collection. Plan is viable and a well-researched business whereby DEBT LEX HOLDINGS & ATTORNEYS proves itself with 30 years’ experience selectively in the in easing the debt pains of their clients. Our firm is committed to supply quality services aimed at satisfying our clients’ needs. Our vision is to use new methods and technology to ensure client satisfaction through the innovative supply of debt collecting services.
DEBT LEX HOLDINGS & ATTORNEYS is a collections firm as well as a law firm within.
Please do not hesitate to contact us should you need any assistance with your collections.
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