How Collectors Keep Their Mental Balance The business of collections can be intense and stressful. But [...]
If you’ve received a notice from the U.S. Bankruptcy Court indicating that one of your debtors has filed for bankruptcy, you may be confused about how to respond. Well, it depends upon the type of bankruptcy filed.
What could your company do with the money recovered from all your overdue accounts? Employing a professional debt collection agency is an effective way to recover payment on those past-due accounts, which increases cash-flow and allows business to have the funds needed to pursue its goals.
If you’ve considered hiring a collection agency to handle your past-due accounts, you may have heard the term “skip tracing.” But what exactly is it, and how does it work within the collections industry? Skip tracing is a method used to locate debtors when their contact information is no longer accurate.
Did you know….of the 140,000 professionals in the collections industry, nearly 70% are women? Of course, it wasn’t always this way. In fact, before 1974, single women in this country couldn’t even get a credit card, much less forge a career in the credit industry. Let’s take a step back and see how the role of women in credit has evolved throughout the years.
Your past-due accounts are taking up too much of your precious time, and you’re at your wit’s end. As a business owner, you’ve been thinking about turning them over to a collection agency. But you keep asking yourself one big question: Is the cost worth it?
It’s critical that every company have an in-house process for handling bankruptcy notices as they are received. By establishing what to do with a Notice of Bankruptcy and how to handle it properly, your company can avoid missed deadlines and potential fines if the automatic stay is violated.
The success of Sales + Credit is not measured by the amount of risk avoided, but by the amount of profitable business secured! A company’s sales force and credit management team must always work hand-in-hand if the business is going to succeed. Let’s face it…