Archive for the ‘Debt Collection’ Category
COVID-19: The Shock and Aftershock for Debt Collections
Thursday, June 18th, 2020What started as a global health crisis is now a global economic crisis as well — and the financial ramifications will likely be around much longer than the health ones. One thing is certain: It’s going to be a rocky road for the financial services sector, including the collections industry. There will be an increase…
Collecting What’s Due: Best Practices for Optimum Debt Recovery
Wednesday, June 19th, 2019In a perfect world, businesses would extend credit and the borrowing company would pay their invoices on time until fully repaid. Unfortunately, the business-to-business (B2B) credit world is not perfect, and businesses sometimes need to instigate collections procedures to recover bad debts. However, collecting on bad debt is a tricky path if you want to…
Pitch Perfect: Master the Perfect Pitch in Your Collection Letters
Wednesday, December 20th, 2017Think of the last letter or email you received. Did you notice the content’s tone or the way it made you feel about the correspondence? The word “tone” describes how authors feel about their subject matter or recipients.1 Tone can have a major effect on readers and how likely they are to respond — and,…
Debt on Your Books? Start Fresh in the New Year!
Friday, December 15th, 2017The end of 2017 is barreling toward us. With that comes a whole to-do list of important items to wrap up before the year closes. For credit managers at many small and medium-sized businesses, the end of the year is the time to reconcile accounts and decide what to do with outstanding debt left on…
Ever Thought of Outsourcing Your 60- and 90-Day Receivables?
Monday, September 18th, 2017Slow-paying customers are not fun to deal with, and tracking them down is even less enjoyable. But to recoup what you’re rightfully owed, you’ve got to do so much more than send simple reminders or wait for them to be another month late before sending them to collections. Working to receive these payments, of course,…