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Managing a small business requires the ability to wear many different hats and look at situations from many different angles. Any healthy business has many different working parts running at the same time. Sometimes things run smoothly and these parts operate in perfect harmony, and sometimes things need to be adjusted. When it comes [...]
It should come as no surprise that many people have a negative opinion of debt collection professionals and the debt collection industry as a whole. There has been a good deal of public criticism recently over the idea of the Internal Revenue Service contracting out the collection of unpaid taxes to third party debt [...]
Over the course of the past decade, medical bills have become a larger and larger portion of the debt that many Americans are struggling to make payments on. Many times, these medical debts arise from sudden medical issues that the patients were simply not prepared to handle on their own. Because large medical bills [...]
Attempting to conduct debt collection with debtors who are located in foreign countries can add an additional level of complication to the entire process. Every country has their own set of rules and regulations regarding both domestic and international debt collection. It is nearly impossible for anyone who is not a professional to keep [...]
Regardless of the type of business you operate, extending credit to customers is a significant risk. One way to reduce the probabilities surrounding that risk is to include a personal guarantee in your application for credit. This allows you to hold your customer personally responsible for the amount of money owed, regardless of what [...]
If you find yourself dealing with a debtor who is struggling to make payments, chances are pretty good that you are not the only person that the debtor is struggling to pay. Once a debtor begins to fall behind, it is reasonable to assume that they are having the same problem with everyone that [...]
Personal debt collection is one of the most difficult topics in the debt collection industry. These collection situations almost always exist between friends or family members who used to be close. Many times, their relationships suffer irreparable damage on account of these debts. If you are currently struggling to collect payments on a personal [...]
Debt collection is a tricky business regardless of the type of consumer you are dealing with, the product or service provided, or the current economic environment. Whether you are a small business owner struggling to collect from your customers or a commercial debt collector working on contingency fees, anyone tasked with handling collection efforts [...]
Skip tracing might be one of the most intimidating aspects of debt collection. The thought of locating a person who may or may not want to be found can be overwhelming, especially if debt collection is not your full time business. When faced with the prospects of a disappearing debtor, many creditors simply throw [...]
With the growing popularity of collection agencies purchasing packages of old debts in recent years, there has been a dramatic increase in errors associated with collecting those debts. One of the fastest growing complaints about debt collectors is that they are demanding payment for debts that never existed or have previously been settled. When [...]
