Payment Savvy

OCTOBER 6, 2021

Collection agencies often find themselves in a tough position when attempting to collect on a delinquent account. If they have no prior relationship with the debtor, it can be nearly impossible to get payment from the debtor. However, there are some things that collection agencies can do to promote repayment quickly.

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Collection Industry News

JUNE 24, 2023

Risk mitigation strategies in debt collection are measures and practices implemented by collection agencies or creditors to minimize potential risks associated with debt collection activities. Here are some common risk mitigation strategies in debt collection: 1.

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The Kaplan Group

JUNE 25, 2022

When it comes to collecting commercial debt, getting mad almost never leads to getting even. How to be 30% less effective in collecting business debt. But there are concrete, research-backed reasons not to let anger take the wheel in any scenario involving debt collection – or, in fact, in any aspect of your business dealings.

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UK debt collections

JUNE 8, 2022

Letters being sent by a Debt Collection Agency to drivers who fail to pail Tyne Tunnel fees are “initimidating and misleading” debt charities have warned. The Debt Collection letters advise of potential fines and even criminal convictions. Marston Recovery and Court Enforcement Services, which is part of the CDER group.

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Direct Recovery

JANUARY 17, 2021

There is no shortage of ways in which the COVID-19 pandemic has changed the way business is done around the world in 2020, and that is definitely true for anyone operating in the collections industry. Let’s break down some of the things top agents are doing to get the job done. Understanding the Situation. Wheeling and Dealing.

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Nexa Collect

JUNE 20, 2020

Business discussions often revolve around making and saving money, cutting costs and building upon wealth, but fewer tackle one of the embarrassing experiences of being in business: collecting money owed. What happens when they dread pursuing collections because it’s become their full-time job? Serving Nationwide. Contact us .

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The Kaplan Group

JULY 15, 2020

If collection agents like me are calling you, you need to reduce your debt. To avoid your account being sent to collections, you need to find ways to reduce your debt. Collect on unpaid invoices. If others owe you money, send them to collections. Most reputable collection agencies work on contingency.

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Direct Recovery

SEPTEMBER 16, 2022

In fact, it is considered reasonable for debt collectors to attempt to reach a consumer by phone one time each week, unless the consumer has provided the collection agent with a specific written request that they stop trying to contact them by phone. Send Letters (But Not Too Many). Garnish Your Wages (If They Obtain a Judgment).

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Payment Savvy

JANUARY 7, 2021

When an account goes past due, many send the account to a reputable and compliant collection agency to obtain monies on their behalf. Even during debt collection, agencies should deliver exceptional customer service and, ultimately, end the relationship with a satisfied customer. Collecting late payments can be frustrating.

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The Kaplan Group

NOVEMBER 9, 2020

In collections, we often have to weigh risk and reward and make similar calculations. When trying to decide what the riskier or safer course of action is, we consider not only the amount of money owed, but also the specific debtor company and management, the business sector and the economy in general. Does the reward justify the risk?

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Credit Management Company

APRIL 5, 2022

One way is to hire collection agencies. Finding the best collection agency partner is a reliable way to get the money your business needs. With effective collection agents, you can get paid faster and increased legal protection. The reason for this is that collection agencies take a percentage of the debt they collect.

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Taurus Collect

JANUARY 14, 2021

We are getting a number of calls from clients asking whether they should be using business debt collectors to pursue debtors on their behalf, in the current climate. It may be sensible for example, to give debtors more time to respond to letters and other issues (perhaps allowing 14 days instead of 7 days).

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Payment Savvy

JUNE 16, 2020

Debt collection may sound simple; a consumer owes outstanding monies, so you reach out to collect on the past due balances. Every word matters in debt collection phone calls. Remember that there are specific laws regulating communications between a collector and a debtor. Be calm and listen to a debtor’s story.

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Taurus Collect

JANUARY 23, 2023

Tax season can be incredibly stressful for business owners, with many wondering how the financial decisions they make today could affect their future debt collection. In this article, we’ll explore what you need to know about taxes and debt collection to ensure that your organisation remains solvent as tax season approaches.

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The Kaplan Group

JUNE 25, 2020

Commercial collection agencies like ours specialize in collecting on B2B debt. If your business is getting calls from a collection agency, you may wonder how this will affect your business credit. Like personal debt, being sent to collections can affect your credit rating. If a collection agent calls you, don’t ignore it.

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Payment Savvy

JULY 21, 2021

These solutions fully integrate with your merchant account and facilitate debt collection payment acceptance. In the debt collection process, there are two parties actively involved – the debtor and the agent. If you don’t know the differences between agent-facing vs. self-service gateways – you should!

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Credit Management Company

DECEMBER 20, 2018

Patient collections can be a challenge any time of the year, but are particularly stressful during the Holiday season. Some collection agencies make the mistake of pausing collection efforts during this time of the year to avoid increasing tension between the healthcare provider and the patient. Timing is Everything.

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Taurus Collect

APRIL 3, 2023

We will provide an overview of the legal requirements, the timeline for debt collection, potential solutions as well as key tips for achieving optimal success when trying to collect unpaid invoices owed by UK customers. Each country has its own laws and regulations, and the UK is no exception.

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National Service Bureau

APRIL 6, 2015

Debt collection companies walk a fine line between business efficiency in their primary function (accounts receivable management), while at the same time needing to respect the fact that the debtor is a valuable client to the business for whom they are running collections. 5: Improper contact or sharing of information.

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Stevens Lloyd

JULY 30, 2018

The roles played by Credit Bureaus and collection agencies. The information provided by the databases helps to determine if there is a need to initiate the collection process or start litigation. there is a wide range of debt collection agencies. Some of these debt collection agencies have branches throughout the country.

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Debt Recoveries

DECEMBER 14, 2020

Hi, my name is Adam Stewart, Debt Collection Expert and owner of Debt Recoveries Australia.I Profit is great, on paper, but if you have not yet collected the payments from your sales, even though your books will show a nice profit, your cash flow may well be terrible because you are still waiting for people to pay.

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Debt Recoveries

AUGUST 29, 2021

Profit is great, on paper, but if you have not collected the payments from your sales, even though your books will show a nice profit, your cash flow may well be terrible because you are still waiting for people to pay. Debtors paying sooner will create a faster flow of cash so you can reduce your borrowings, or fund growth more easily. .

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Debt Recoveries

MARCH 26, 2020

Profit is great, on paper, but if you have not collected the payments from your sales, even though your books will show a nice profit, your cash flow may well be terrible because you are still waiting for people to pay. Debtors paying sooner will create a faster flow of cash so you can reduce your borrowings, or fund growth more easily.

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The Kaplan Group

JANUARY 19, 2021

With the new rules, collection agencies can contact consumers more frequently. They can place up to seven debt-collection phone calls per week (and under some circumstances even more), as well as send an unlimited number of text and email messages and private social media posts. Debt collectors can call you more often.

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Debt Recoveries

NOVEMBER 13, 2020

Hi, my name is Adam Stewart, Debt Collection Professional and owner of Debt Recoveries Australia and ADC Legal-Litigation Lawyers. Even if the business cannot pay immediately, having a guarantee makes it more likely the guarantor will talk with you, or your collection agency. Most debtors owe multiple vendors, not just one.

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FDCPA Defense

APRIL 17, 2019

The CFPB is expected to announce proposed debt collection rules in the near future that may incorporate the theory. The “meaningful attorney involvement” doctrine evolved out of the Fair Debt Collection Practices Act, 15 U.S.C. The Court observed that “Rubin has no real involvement in the mailing of dunning letters to debtors,” id.

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Debt Recoveries

JUNE 1, 2021

Unless you are actually a debt collection expert like Debt Recoveries Australia , there is a good chance that you have quite a few higher priorities than managing your company’s accounts receivable. You might even delegate that task out to an assistant or employee without much thought to collect debts fast. CC the CEO or CFO.

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Troutman Sanders

JUNE 21, 2023

State Activities: On June 16, Nevada Governor Joe Lombardo approved SB 276 as an update to the state’s Collection Agency Licensing Act. Originally adopted in 1969, the act provides for the licensure and regulation of collection agencies and collection agents. For more information, click here.

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