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My Debtor Filed for Bankruptcy – Now What?

February 14th, 2020|Comments Off on My Debtor Filed for Bankruptcy – Now What?

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.

Why Sending an Account to Collections Is Good for Your Company’s Health

November 20th, 2019|Comments Off on Why Sending an Account to Collections Is Good for Your Company’s Health

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.

Skip Tracing and Personal Guaranty

October 23rd, 2019|0 Comments

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.

Volunteering for Easter

May 8th, 2019|0 Comments

Volunteering for Easter Every year the Tucson chapter of The Salvation Army hosts a community Easter breakfast.  It is a free public event held at their hospitality house.  The event had breakfast, Easter baskets, [...]

Credit Where Credit Is Due: Women in the Collections Industry

April 18th, 2019|0 Comments

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.

Supporting Our Community

February 15th, 2019|0 Comments

BARR Credit Services & The Salvation Army Supporting the Tucson community has always been important to Randy Frazee, the CEO of BARR Credit Services.  Since starting his business in Tucson, [...]

Types of Bankruptcy: What You Need to Know

January 29th, 2019|0 Comments

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.

Sales + Credit: The Dynamic Duo

October 3rd, 2018|0 Comments

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…

Developing a Collection Policy

July 19th, 2018|0 Comments

If you’re a business owner, or an employee in your company’s credit department, you already know how difficult debt collection can be. But did you know that poor debt collection is often one of the main reasons businesses fail? Since cash flow is the lifeblood of any business, an effective collection policy is essential to keeping the money rolling in.

Recognizing the Early Warning Signs to Delinquency

April 25th, 2018|0 Comments

Any supplier of trade credit naturally assumes a certain amount of risk. With commercial debt, balances are higher and so are the risks. Some potential warning signs may simply be the result of a misunderstanding. But they could also be a red flag for a possible (and expensive) bad debt. Make sure your company is credit-savvy by recognizing the following six early warning signs.

How the New Tax Law Affects Debt Collections

March 26th, 2018|0 Comments

Have you noticed a little more money in your paycheck lately? Probably not. Physical checks are a relic of the past. Most employees are paid through direct deposit, and many don’t notice when deposits are made into their checking account. More likely, employees do pay attention to how much money they have in their account at the end of the month, quarter, or year.

Using the Credit Application and Trade Credit as a Tool for Growth

January 30th, 2018|0 Comments

Establishing trade credit is the lifeblood of many small businesses. The effective use of trade credit can be a financial tool that helps your customers grow and, in turn, helps your business grow. However, too much of the wrong trade credit creates risk. The credit application is the first step taken when a customer requests trade credit.