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Seasonal businesses like construction and landscaping can offer up one of the most tricky types of debt collection issues. No matter how much credit you have extended to a particular seasonal business, it can be awfully hard to collect any portion of that debt during their slow season. But their financial calendar also doesn’t [...]
A recent article from Forbes Magazine pointed out that Community Health Systems, one of the largest hospital chains in the country, had surprised investors by deciding to write off $169 million in bad debt. This is one of the most recent examples of a growing problem that is leaving many medical companies wondering how [...]
A wealth of demographic and behavioral data is available to companies that sell and collect consumer debt. The data helps identify characteristics, preferences and goals of consumers who use credit. This information is critical because it helps control the supply and demand for the sale of consumer debt to collection agencies. The value of [...]
No matter how well you run your business, inevitably you’ll encounter some deadbeat customers who don’t pay their bills. This is most likely to occur when your business sells its products or services to customers on account, as opposed to cash or credit card transactions. Typically, an accounts receivable (A/R) entry that is delinquent [...]
Commercial credit risk is a fact of life for small businesses, who must contend with sudden changes in a customer’s ability to pay its debts. Initial and follow-up credit screening is the most effective way to reduce the risk of delinquent accounts, but it’s impossible to avoid all such risk. Tune in to Customer [...]
Most debtors never think it could happen to them. One minute they are using credit cards for their living expenses, and the next, after ignoring multiple notices from collection agencies, they find a judgment entered against them that takes a bite out of their paycheck every week. Let’s take a closer look at the truth [...]
If you listen carefully to the election debates, you might have noticed an unusual policy discussion starting to take shape: Student loan debt. With estimates most recently reported at $1.3 trillion USD, presidential candidates are beginning to propose solutions to help struggling students take a healthy approach to paying back student loans. In fact, [...]
If you’ve ever held a sales position, you probably know a thing or two about the concept of objections. These are the first excuses that someone will make as to why they cannot buy your product or service. The same will be true when you are asking a consumer or business to pay off [...]
Debt collection agencies are designed to help businesses collect the monies that they are owed based on a contract. The contract can be between any creditor and debtor whether commercial or consumer. In our last blog, we reviewed the top 10 reasons people go into debt. However, you might also be interested in a [...]
