As a lender or a business owner, you certainly expect people to pay back the money that they owe. An agreement was made and you upheld your end of the deal. You expect them to pay on time and pay the correct amount without issue. Of course, this doesn’t always happen....
Month: January 2024
Keeping track of actionable accounts in need of collection
For businesses, managing accounts receivables efficiently is important for maintaining a healthy cash flow. However, when payments are overdue and accounts go into collections, it becomes vital to have a system in place to track these accounts effectively. This effort...
Why auto lenders would rather collect money than cars
When a borrower doesn’t pay back an auto lender, the lender may decide to move forward with the repossession. This is when they reclaim the vehicle that was purchased with the loan. The goal is to then sell that car again, getting the money that was still owed by the...