During this difficult time, protecting your health and the health of your family is the most important task. Of course, the health of your business is critical as well. The Covid-19 crisis will end. When it does, you want your business to be in as good a shape as possible. Keeping your business running and … Read more
As a collection agency, we obviously think that we’re in the best position possible to help you collect on unpaid invoices. But, we are sometimes asked for alternatives. We don’t take it personally, we know people like options. Here are four other ways you could potentially deal with unpaid invoices. Invoice Factoring With invoice factoring … Read more
Nonprofits and for profits differ from each other in many ways. But, one thing the two types of companies have in common is that they both need to collect money in order to keep on the lights. People often believe that selling items or charging for something jeopardizes a nonprofit’s tax-free status. This is not … Read more
I don’t want to shock you, but even though we are now almost at 2020, and electronic banking, no cash stores, and ATMs are all part of everyday life, a lot of people out there are still writing checks. Some people write checks because that’s what they’re used to doing. Some people like to write … Read more
Many business models rely on auto renewal contracts. Auto renewals provide a business with a reliable cash flow and they provide clients with reliable service. No one wants to come in on Monday morning to discover that the software they depend on is no longer available to them. However, auto renewals are also a frequent … Read more
Economies are cyclical. For every upturn, there’s a downturn. When there is a downturn, unqualified collection agencies tend to spring out of nowhere. In 2011, during the Great Recession hundreds of un-trained collection agencies entered the market. Predictably, complaints about collectors’ abusive practices reached all-time highs. According to the Wall Street Journal, in 2011, the … Read more
With e-commerce and the Internet, some of the barriers between international business no longer seem as difficult, especially when it comes to close neighbors like Canada and the United States. But, if you’re doing business with Canada, it’s important to know that there are different laws covering situations like unpaid invoices, collections and corporate bankruptcy. … Read more
It’s hard to imagine anything more awkward than asking about an unpaid debt after someone dies, but just because it’s awkward doesn’t mean you can avoid it. What happens to an individual or company owner’s debt after they die? It depends. If an individual dies owing money, generally, their estate is responsible for paying any … Read more
The book The Four Agreements by Don Miguel Ruiz was published in 1997. The book has been translated into over 40 languages and has sold over 7 million copies in the United States alone. Clearly, it hits a nerve for some people. Although the book is meant to help with personal growth and relationships, I’ve … Read more
We’ve all been there. You miss a payment on a credit card or utility bill and find yourself paying not just the amount due, but the amount due, plus a late fee. In B2B relationships charging a late fee and/or, a finance charge, is also common practice. If you aren’t already charging your clients for … Read more
