Category: Collections
When should debt collectors be used?
There’s no simple answer to the question, “When should debt collectors be used?” The answer varies for every industry and every business, and sometimes every account. But there are a few general principles that can give your office some insight about when you should send past-due accounts to a collection agency. Here are some considerations:
How do I take someone to collections?
If you’re a business and you’ve never hired a collection agency before, you might ask yourself, “How do I take someone to collections?” You probably have plenty of other questions about how the collection process works as well. Here are a few considerations to prepare your office for sending past-due receivables to IC System. When
Should You Hire a Collection Agency Near You?
When you’re looking for a new collection partner, it might be a mistake to look for a collection agency near you. Although buying local is usually a great policy for supporting small businesses or buying produce, the effectiveness of collection services can severely impact your bottom line. That’s why it’s so important to find a
5 reasons your small business needs a collection agency
Business growth means difficult decisions are often waiting at the crossroads. Do we keep doing this thing in-house? Should we hire someone? Or is it better to partner with a vendor? Luckily, as a small business owner, there’s no need to wait to hire a collection partner for debt recovery services. Hire the right firm
Landlords Still Struggling After Recent Stimulus
Many creditors have special emergency relief plans for those who fall behind on auto loan, credit card, student loan, and other payments. Mortgage companies can offer forbearance plans under the CARES Act, the economic stimulus bill passed in March 2020. However, most private landlords or property management companies don’t have many options when it comes to offering
4 Simple Steps to Ensure Fast Revenue
In these unpredictable times, everyone’s looking for ways to achieve some measure of stability in their business. Fortunately, there are a few methods to ensure fast revenue from your accounts receivable, even in situations requiring collection efforts. Follow these simple steps, and you’ll start seeing revenue returned to you faster. Step 1: Have a Plan
Netback: The Best Way to Evaluate Your Collection Agency
If you have used or shopped around for a collection agency, you know they offer various services. Most collection agencies will make calls, send letters, and possibly even credit report your past-due consumers. But rather than evaluate a collection agency on its list of services, the most critical aspect of your relationship with your collection
Four Strategies to Improve Cash Flow During COVID-19
Countless businesses have experienced poor cash flow during the pandemic. Any office remains at risk, given the sheer unpredictability of our future. Still, there are strategies you can take to fortify your cash flow for the time being. A smart approach to improve cash flow begins by committing to a process that reduces spending and
How Debt Collection Works: Client Success
Business relationships last because of excellent service. No matter your industry, the level of service you receive will often shape whether you value the ongoing relationship. When you partner with a collection agency and have questions about their service, someone knowledgeable should be available to provide a friendly experience. You should also have access to
When Does Your Small Business Need Debt Collection Services?
How much time do you spend calling or sending letters to your past-due consumers? Chances are, it’s too much time. Or maybe it’s not enough. One of the main reasons that many small businesses fail is because of poor business planning. An effective business plan should include a detailed accounting of your cash flow and
