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Commercial

Filling in the Gaps

Author

Bob F.

Since the beginning of the economic downturn several years ago, many companies have been trying to do more with less people as a way to compensate for depressed sales and increased bad debt. Often times, this creates a work flow gap, especially in the accounts receivable department. As staff count decreases, companies quickly reach a point of diminishing returns where there is not enough staff to adequately cover all the tasks required to meet internal credit and collection policies. As a result, accounts that should have been recovered in-house prior to going to an agency age past the point of collectability and cause a greater loss of profit.

Past-Due Customers: Handle with care

Author

Jonathan K.

Sometimes it happens. It could be a long-time client with whom you have a great relationship or a new customer you hardly know. They miss their due date, they break promises and now they are not even responding. What do you do? In today’s business environment, you don’t want to risk losing any client – but are they really a client if they are not paying you?

What matters most to you in a collection agency?

Author

Victor M.

To help make your collection agency decision-making process less painful, we have devised a list of questions you should ask yourself when evaluating your current or future agency relationship. Better yet, take a few minutes to rank these questions by order of importance to YOU. Then present your highest priority questions to your agency to see if they’re a good fit. Your and their responses will simplify your decision.

What you should know about filing a Proof of Claim

Author

Jonathan K.

What is a Proof of Claim?
A Proof of Claim is a written assertion to the bankruptcy court, trustee, debtor and other interested parties that you, the creditor, wish to assert your rights to a distribution in a bankruptcy case. Filing a Proof of Claim may be your only avenue of potentially being paid by a bankrupt debtor.