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...

The economy in the United States has been rough lately, and it appears that people are turning to debt more and more often to try to make things work. Specifically, reports in the last few months show that credit card debt reached $1 trillion. This is the highest that...

The economy has become difficult for many Americans. Costs have been going up as businesses post record profits. But wages have not increased to match those costs, so people are naturally running out of money. This can be seen in a rising number of foreclosures and...

It can be tough to get some consumers to pay what they owe – but modernizing your company’s debt collection process can actually help. Essentially, if you want your debtors to pay up, you need to make it as easy as possible for them to comply with your plans. Here are...

Here is a common question from entrepreneurs planning to open a startup. I’m not open yet, so why would I need a debt collection plan? Unfortunately, unpaid debt can overwhelm your startup before you realize it has happened. With insufficient money coming in, you...

Although there are several options for collecting on unpaid invoices, business owners need on-time payments to keep things running smoothly. Late payments can disrupt the flow of operations, thereby compromising your business finances. You may already have a strategy...

When your company is dealing with past-due invoices from other companies, it is important to take a proactive and structured approach to ensure the best possible outcome. A few outstanding debts might not seem that significant right now, but your situation could...

Many businesses lend money to consumers or allow them to take credit when making purchases. However, when a consumer doesn't fulfill their obligation to make payments, then the business may take it into their hands to collect the debts owed. When collecting debts,...

Most people pay back what they owe on time, if not more quickly than an agreement they’ve made requires. After all, lengthy repayment will often mean paying more in interest and could drag down someone's credit score. Unfortunately, for every responsible credit user,...

Your company has had a long relationship with another business – and you’re pretty friendly, at this point, with the owner. When the company had a few rough months, you were more than willing to cut them some slack on their payments. Now, however, it seems like their...