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The internet brought about a plethora of changes for businesses. One of the major shifts has been that ability for consumers to loudly voice their opinions on social media. When it comes to debt collection, it’s important to remember that the agency you choose to work with is a direct reflection on your company. Consumers [...]
Regardless of whether you’ve been in business for just one year or a decade, one of the issues most companies do not expect to face is debt collection. However, from the smallest microbusinesses to the largest firms, you will eventually encounter a client who chooses not to pay their outstanding balances. As you may have [...]
As if there aren’t already enough rules and regulations to be aware of when collecting debts from living debtors, there are even more that you will want to be aware of if your debtor should suddenly pass away. Fortunately for creditors, death does not absolve existing debt. However, the debtor needs to possess enough assets [...]
The deck is stacked against debt collectors today. There is a long list of confusing laws that have been put into place to protect debtors from debt collectors. There is also a nearly endless amount of advice and education available to debtors on everything from debt consolidation loans to tips and tricks for deceiving and [...]
Collecting debts can be a very difficult and often confusing task. There are a tremendous number of rules and regulations on federal, state, and local levels that can confuse even the professionals. That means that if debt collection is not your full time job, you might already be in over your head, or possibly even [...]
One of the biggest issues that many small businesses have is that they are so rushed in handling their day-to-day operations that they never get around to putting specific procedures and processes in place to govern their business operations. Extending credit, billing and collecting payments, and handling delinquent credit accounts are some of the [...]
We are now living in the era of the connection economy. With every year that passes, the Internet makes it easier and easier for small companies to do business on a global scale. Opening up the entire world as a potential customer is an extremely attractive proposition for many businesses, but there are also significant [...]
Delinquent credit accounts are one of the biggest drags on the cashflow of a small business. The situation gets even worse when those accounts are the result of a fraud that has been perpetrated against your business. In order to protect your business, you want to make sure that you are doing everything in your [...]
One of the easiest ways to reduce the number of your credit accounts that fall into collections is to make sure that you are doing everything in your power to maximize your accounts receivable conversion rate. This can include everything from analyzing your billing statements to what forms of payment you accept. While it might [...]
A recent article from ACA International quoted a report from Transunion that says that credit card balances are at their highest levels since 2008. While this is a scary notion for the general population, it has even more frightening implications for businesses that must extend credit to their customers in order to complete sales. With [...]
