Problems Of Debt Collection In A Depressed Economy (A Case Study Of Saclux Paint Industry, Abia State)

ABSTRACT

This research work attempt to investigate the degree of efficiency in handling debts, particularly in the light of the nation's economy. It was the intention of the researcher to assess the company's contribution to the growth and development of its environment and the economy within which it operates. For investigation to be effective and efficiently carried out in this research work, the researcher used some method like; SCOPC of the study, data selection, data collection which cut across interview schedule, observation and secondary data, design and administration of questionnaire, sample size determination and data analysis techniques. The researcher used the chi - square (X2 ) tools in analyzing the data collected. Based on the findings of this work, the key recommendation includes; the wiping away of corruption, fraud and graft from the social economic and political systems of the nation, in doing SO will make credit business survive. There must be a collection strategy, which must be actionable to press for prompt payments on due accounts. There must also l)C credit investigations and finally. companies should operate laid down clear - cut credit policies. Finally, if the above recommendations are effectively employed by the management, the problems encountered in del)t collection in Saclux paint Industry will be resolved.