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The history of debt collection may go as far back as the invention of money. In all that time, debt collection has been essentially unchanged. You borrow money from a creditor with the promise of paying is back within a certain time period. If that promise is not fulfilled, someone will come knocking at [...]
Every business endeavor has risks. Sooner or later, your business will encounter the downside of these risks when one or more of your clients fails to pay for your services. At first, you may let it slide and give an extended grace period. However, sooner or later, your customers have to pay up, and when [...]
International debt collection can be exponentially more complicated than the domestic collection process. Even the most cut and dry cases can be affected by bringing multiple countries into the mix. In addition to knowing all of the rules and regulations for collecting debts in your own country, you will also be expected to follow [...]
Contingency Fees, also known as Conditional Fees are very popular with attorneys in legal situations where the client is not charged unless the case ends favorably. This is also the preferred fee structure of many American debt collectors. This can be an incredible benefit to the client simply because it provides a no risk setting [...]
For many businesses, the idea of accepting only a percentage of the full amount owed can be a hard pill to swallow. You put in the time, effort, and resources to provide your product or service at a fair market value, and now you are put in a position where you may have to accept [...]
Rarely do people plan to divorce the one they vowed to be with “until death do you part.” However, when it happens, you need to be prepared for how to separate both the property and the debt. Couples accumulate more than property over the course of a marriage. When the marriage dissolves, everything acquired [...]
Nobody is ever excited to hear from debt collectors, but when scammers pretending to be debt collectors call, it’s even more unnerving. Often scammers will have personal information about you to make them sound legitimate. That amplifies the situation from unnerving to downright scary. The following tips will help to protect you and your [...]
The assumption held by many is that, once a debtor is found, the creditor can seize or freeze any of the debtor’s assets in order to cover the cost of the debt. That is a false assumption. The Fair Debt Collection Practices Act (FDCPA) is a national regulation that makes certain assets exempt from [...]
You know those files at the back of the filing drawer and those unpaid invoices on your Paypal.com account? Those accounts and files represent potential profits that could be lost if neglected. In the midst of the hustle and bustle of business, sometimes emails, files and past due accounts get buried by something newer [...]
As frustrating as it is to have clients who have past due accounts, it is important that you not allow the frustration to affect your behavior toward the client. In fact, it is best to maintain the client’s reputation throughout the collection process. Here are three reasons why. It’s good advice to make nice Just [...]
