It can take a lot of work to keep some of your commercial clients on track with their payments, and some of them are harder than others to push toward compliance. But, how much of a grace period do you give? How much is “too much” when it comes to working with someone...
collections
Thousands of invoices go unpaid
To find out how common it is for businesses to send out invoices and then never be paid the money that they're due, one study looked at just over 1,000 small businesses. The numbers that they found were perhaps not surprising, but they did shed light on how serious...
Student loan defaults happen faster than you may think
Some people who default on their student loans do try to pay them off for years or even decades before they realize they can't make that payment. It's just such a long-term process that they may have had high hopes of paying at the beginning, before seeing that dream...
The first thing to do about unpaid invoices
It can be very frustrating to have unpaid invoices. As a business owner, you've already rendered services and you expect to get paid. Maybe you sold products and the invoice is for that cost. Either way, you feel that you're being ripped off because someone is not...
When someone tries to avoid financial responsibility by moving
Some people will go to extreme lengths to avoid their financial responsibilities. If you have a debtor that has tried to avoid paying what they owe your company, you likely already understand how hard people will try to avoid making payments. They may quit their jobs,...
Common types of debt evasion
Your company is well established in the market. You have a good reputation in terms of customer service and the work that you do. Usually, you carry out your job and customers are more than happy to pay you. Unfortunately, on this occasion, it seems like a customer...
Why don’t people pay student loans?
College students often have many options to get the financial aid they need to attend school. Many of them get financial aid from the government and may even take student loans out from the federal government itself. Some students also turn to smaller lenders to...
Your rights when a non-paying debtor moves to Florida
Financing has become a way of life in modern America. Plenty of consumers and sometimes even businesses need goods or services that they cannot pay for right away. Companies can close more sales by offering financing. If they keep that financing in-house, they may...
What you should know about promissory notes
Essentially, promissory notes are instruments that facilitate the borrowing of money from one party to another. Promissory notes usually set out the key terms of the loan, such as when and how the funds will be repaid at any one time. Promissory notes are often used...
Can you still collect a debt if you have to stop calling?
There are ways that consumers can take action to get collectors to stop calling or contacting them, but that doesn’t mean that your company can’t collect the debt that is owed. Even if you work with a credit collection agency, you have other options if those agents...