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Timing is everything in the world of commercial debt collection. In just a blink of an eye, people who have been your best customers for years can go from having excellent credit to nearly bankrupt. And the only way to prevent your business from suffering the consequences is to act early, and to make [...]
In situations where collection accounts get to the point of bankruptcy, each of a debtor’s individual assets will have a unique set of rules that defines whether or not they are available to settle past debts. Whether you are on the side of the debtor or the creditor, understanding these subtle differences can give [...]
Even more than profitability, cash flow is the lifeblood of your company. Companies with strong cash flow are able to survive temporary periods of low profitability, but even the most profitable companies can’t survive when their cash flow situation turns negative. There are generally two types of cash flow problems: those caused by spending [...]
Managing accounts receivable is one of the toughest aspects of business. Every business that extends credit to customers is going to run into trouble collecting from some of those customers at times. And sometimes, even businesses that don’t plan on extending credit find themselves in situations where customers end up owing them significant amounts. [...]
One of the most important factors in successfully collecting any outstanding debt is understanding all of the details that are affecting the situation. The type of debt, person responsible for the debt, and even the general economic conditions can all play a major factor in whether or not you are able to get paid. [...]
Everything started out so well. You had a friend, relative, or client that seemed to be on the up-and-up, but cash was tight and they needed a little help. You had a little extra and saw an opportunity to make a bit more interest than the banks were offering. Then things took a turn [...]
As if debt collection wasn’t already hard enough, it gets even more difficult when you attempt to collect from customers internationally. In these situations, you have to respect the collection laws of the country you are attempting to collect in. Many times, that means that you have to first educate yourself about what those [...]
For many of us living in 2016, we would like to think that the days of discrimination based on gender are way behind us. Unfortunately, the world is not quite the ideal place to live that we would like it to be. In the world of credit scores and debt collection, many women still [...]
The debt collection industry can no longer treat consumers with the one-size-fits-all approach that it has utilized in the past. Between regulations like the Fair Debt Collection Practices Act and the evolution of the consumer and their ability to utilize technology, the industry has evolved and now requires a somewhat customized approach to each [...]
There are very few things in the debt collection industry that are more complicated and confusing than international debt collection. As if dealing with all of the rules and regulations here in the United States isn’t enough, when you introduce another county into the mix, you also bring along their set of rules and [...]
