Debt is fact of life. At some point, you will either owe a business or other creditor money, or you will be owed past money for a product or service. But the issue of debt is a delicate one, and debtors and creditors alike must be mindful of the best approach to achieve personal debt recovery and debt collection solutions, respectively.
In general, it is important to recognize good debt vs bad debt. To keep good debt from turning into bad debt, maintaining positive cash flow is crucial. Sometimes small businesses have to deal with preventing bad debt on two fronts.