The True Cost of Hiring a Commercial Collection Agency

Hiring-A-Commercial-Collection-Agency-Fees

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

Angry-Can't-Pay-Bills

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

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

Social Media Logos on Blocks

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

Demand Letters: 4 Things to Know

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Clients often want to know about demand letters. They may consider having an attorney send a demand letter before turning it over to collections. Paying an attorney for an hour or two to write a letter is less expensive than a collection agency contingency fee. But, a letter itself may not actually get you paid. … Read more

Risk & Reward: A Collection Agent’s Point of View

Risk and Reward are the two sides of almost every business deal. What are you risking if the deal doesn’t go well? What will you gain if it does go well? Does the reward justify the risk? In collections, we often have to weigh risk and reward and make similar calculations. When trying to decide … Read more

Debt Buyers: 5 Things to Know

We’ve talked before about the bad rap debt collectors get in movies and television. A lot of the misconceptions about debt collectors actually come from the behavior of debt buyers. If you are looking for new ways to pursue unpaid invoices, it’s important that you understand the difference between the debt buyers and debt collectors. … Read more

Cancelled Events: 5 Things to Know About Refunds

Cancelled events. From personal events like weddings to trade shows, Covid-19 has hit the event industry hard. Cancellations affect event organizers, professional entertainers, marketers and attendees. For some businesses, an annual trade show is where they make most of their sales. Being out the new sales and potentially the deposits on the show can hit … Read more

Dos & Don’ts of a Payment Plan

Normally on this blog we give advice to our clients and creditors who are owed money. The pandemic and resulting economic impact are causing many companies to struggle financially for the first time.  Here are some tips for both debtors and creditors considering a payment plan as a way to resolve an issue. If you … Read more

Six Strategies to Strengthen Cash Flow During a Pandemic

Cash Flow is King during COVID-19

Cash is King during COVID-19. Poor cash flow can cause a significant number of financial issues but in a pandemic it can destroy your business. The good news is, strengthening your cash flow in a volatile environment can improve your overall cash position. Cash flow is about both bringing in more cash and spending less … Read more

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