article thumbnail

How to get paid faster

On Guard

Checking customer creditworthiness. It also doesn’t hurt to check the creditworthiness of new customers. All kinds of smart tools are now available that continue to monitor the creditworthiness of customers throughout the year. Good insight doesn’t stop with determining creditworthiness. Gaining good insight.

article thumbnail

How to Reduce Your Collection Cost and Boost Your Cash Flow

Taurus Collect

This introductory guide aims to explore the mechanics of No Cure No Pay debt collection and its potential to revolutionise financial management strategies for businesses across the UK. The Collection Conundrum: Details and Challenges Understanding collections goes beyond a simple “payment is due” notification.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Growth Potential of the Debt Collection Industry: An In-Depth Analysis

Collection Industry News

This presents a substantial opportunity for debt collection agencies to assist lenders in recovering unpaid debts and managing default risks. Economic Factors: Economic conditions directly impact the debt collection industry. As businesses expand globally, debt collection agencies can extend their services across borders.

article thumbnail

Dealing with Debt Collectors

Debt Free Colorado

When collecting a debt from you, collection agencies must adhere to federal and state rules. Fortunately, the federal Fair Debt Collection Practices Act (FDCPA) protects all states. The Fair Debt Collection Practices Act (FDCPA) does not apply to original creditors or cover company obligations. Repeatedly call you.

article thumbnail

How to get your invoices paid faster as an automotive and transport entrepreneur

On Guard

Check the creditworthiness. It can be useful to check the creditworthiness of (new) customers. There are now all kinds of smart tools available that continue to monitor the creditworthiness of the customer throughout the year. A good insight does not end with establishing the creditworthiness. Tailored dunning.

article thumbnail

13 Best Practices in Credit Management and Collections

CICM

Assess customer creditworthiness by reviewing their financial statements, references and obtaining a credit report. If your 90 day + debtor position is worse than six months ago then spend the time to understand why, and make changes to improve. Be firm It pays to know your options when it comes to recovering difficult debts.