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Once an outstanding debt reaches time-barred status and is no longer collectible, there is little that a creditor can do to recover the amount owed, so the best approach to handling time-barred debt is to avoid getting to that point in the first place. If you want to ensure that your outstanding balance doesn’t fall [...]

Cash flow is commonly said to be the lifeblood of any good business, so it only makes sense that the best companies would want to do everything in their power to increase cash flow. Improving the debt collection rate is one of the easiest ways to increase cash flow for any company extending credit to [...]

An emergency fund is typically defined as a cash reserve set aside for unforeseen expenses or financial emergencies, and having one in place can help even the most substantial companies survive the tough times that inevitably come for all of us. Emergency funds are especially important for small businesses that operate with the additional risk [...]

As one of the most popular shows of 2023, The Bear has been streaming in millions of homes nationwide, giving regular people an inside look at the tortured souls in the restaurant industry. While the show has been getting critical acclaim for its accurate portrayal of the sometimes ups but mostly downs of running a [...]

Overwhelming student debt has quickly become one of the most significant problems plaguing the next generation of young people and simultaneously holding back the overall economy. The pandemic pause has given many American struggling with student loan debt a reprieve. Still, with those breaks set to expire in August, things could get difficult once [...]

Taking on debt is one of the most common ways to fuel a rapidly growing small business. But that debt can quickly become an anchor weighing down the entire company if growth sputters, and the resulting collections can be even more problematic than the debt in the first place. If your business regularly offers [...]

If you're drowning in debt, you might feel like you are all alone with no way out. However, the exact opposite is actually true. California has one of the highest bankruptcy rates in the country, but the majority of consumers here still need to learn more about the process involved to make informed decisions [...]

Wage garnishments are the ultimate threat posed by every debt collection scenario, but finding yourself on the wrong end of one doesn’t have to be a financial death sentence. The whole process can start with something as simple as falling behind on a few credit cards, and the next thing you know, you can’t [...]

Hiring a commercial debt collection agency could be the best or worst thing you ever do for your business, no matter what product or service you specialize in. In almost every case, the result of partnering with a debt collection agency will be determined by the caliber of agency you choose to work with. [...]

The combination of limited inventory and supply chain shortages has shot the price of new and used cars sky-high in recent years. That one factor alone could have a substantial impact on the collections industry, and that’s before you factor in the price of gas! To help your collection team confront this new challenge [...]