The market of debt crecovery is overcrowded with lots of commercial collection agencies, companies and firms offering their services in the field of debt recovery. Here are 3 more tips to consider when selecting a partner in the debt collection process. 1. Make a study. Debt collection agencies may vary in size and range from […]

As 2016 comes to an end, many businesses are looking forward to the start of a new fiscal year. A new year brings on different obstacles and growth opportunities, but chances are you don’t want one of those obstacles to be old uncollected debt. This is when a reputable debt collection agency comes in handy.

One issue that always comes up in the debt recovery process is getting a hold of a customer. What happens when you run into difficulties getting a delinquent client on the phone? It can be easy to rush to judgement when this happens and you can even start believing that the client is purposely avoiding

Consumer debt may indeed receive a lot of attention from the media, but business-to-business debt receives major amount of the debt recovery market. Of all the different regulatory bodies in the consumer collections market there is actually no de facto regulatory body overseeing the commercial debt collection recovery.

If you are in collection industry you probably heard about new proposed changes to debt collections law which would affect the way debt collection agencies do business. Consumer Financial Protection Bureau (CFPB) proposed these new regulations with the idea that it will give more protection for small businesses and individuals. Many other commercial debt collection

Sometimes negotiations do not work. All the phone calls, demand letters and reasoning will not get a debtor to pay. At times your customer has no intentions in resolving this debt that is rightfully owed to your company and all routine debt recovery practices have been utilized. Times like this takes thinking outside the box

When all your internal efforts have failed when dealing with past due receivables, it is time to seek representation from a professional. If you have proper accounts receivables policies and procedures you will most likely assign it to a collection agency first. Most 3rd party collection agencies work on a contingency basis. You do not

In the past, accounts receivables were considered a basic function. Business owners have finally started to realize, that an effective accounts receivables process can have a measurable financial benefit to your bottom line. Companies that deal with commercial accounts, generally deal with fewer customers with higher balances, while the consumer based companies deal with more