New Study Reveals Unprecedented Levels of Debt for Americans

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A new study by The Kaplan Group shows that the debt burden has reached an all-time high for American households. We analyzed the evolution of auto loans, mortgages, credit card and student loans since 2003. Key Takeaways All-time high Auto loans, mortgages, and student loans are at an all-time high since 2003. Although the total … Read more

States with The Biggest Debt Burdens

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A new study by Kaplan shows that the average monthly search for “debt relief” on Google has grown by 49% in the past year, highlighting a national concern about managing financial obligations. This study identifies the states facing the most significant challenges and those with a potentially healthier financial landscape. Key Takeaways Search Interest for … Read more

The True Cost of Hiring a Commercial Collection Agency

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It’s always exciting to land a new client, but when that client does not pay you and the debt adds up, excitement turns into anxiety and disappointment. It may be time to consider hiring a commercial collection agency. We all know managing a business and the cash flow process is a financial pain point. We’ve … Read more

Angry? You’re LESS Likely to Collect

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When it comes to collecting commercial debt, getting mad almost never leads to getting even. But the concern extends well beyond your bottom line. How to be 30% less effective in collecting business debt It’s simple. Just allow yourself to get absolutely furious about the situation, and BOOM. Your ability to recollect your money drops … Read more

Business Credit and Loan Resources for Veterans

Veterans play a vital role in our economy, with veteran-owned businesses making up 9.1% of companies today. Their efforts employ almost six million Americans and a trillion dollars in annual sales receipts. While they tend to choose self-employment more often than their civilian peers, they still find challenges when it comes to securing funding to … Read more

What Debt Collectors Can and Can’t do on Social Media

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Yes, it’s true. Debt collectors can now contact consumers on social media. Here’s the background and all you need to know about what debt collectors can and can’t do on social media. The History In November 2021, The CFPB made some long-awaited updates to the Fair Debt Collection Practices Act. The FDCPA was enacted by … Read more

Three Things to Know Before You Sue a Client

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Thanks to the silver screen, many people believe they have a solid understanding of our court system and the judicial process. But what is often depicted in the most captivating courtroom scenes is far from reality. A debt collection lawsuit can be serious, complex and time-consuming. If the case isn’t settled and you move to … Read more

Preserving Your Client Relationships During Commercial Debt Collections

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Maintaining client relationships as you pursue an escalated B2B debt collection is a delicate balance. Many industries are “small worlds,” and your clients could be talking to each other more than you think. As a business owner, you need to preserve your bottom line, so commercial debt collection is critical. But, how you collect outstanding … Read more

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