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Exploring Effective Debt Collection Strategies and Insights

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Collection agencies get a bad rap. Some of the criticism, especially about past actions, is deserved. No one likes owing money and some collection agencies have been bad actors. The

The right collection agency can benefit your business. It is important to hire an agency that shares your goals and reflects your style. A collection agency does a great deal

Clients often ask what types of information we need in order to collect debt for them. While the short answer is, “Everything You’ve Got!” we do want to streamline the

Credit customers are a great way to increase sales. If you are smart about how you grant your customers credit, you will be ahead of your competition. However, if you

If you have hired a collection agency, congratulations! You have taken an important step towards improving cash flow and saving time and effort. In order to get the best results,

Debt collection costs – who doesn’t hate them? I get it. You don’t get paid and have to pay someone to get your money for you. It stinks. On the

You have a growing small business, are “doing everything right”. You use customer contracts and have a good plan to recover bad debt in-house. When do you need to hire

Will inflation continue to rise? Will higher costs erode consumer confidence? Will fewer sales usher in a recession? The “experts” all agree on one thing, and that is that the

You can significantly reduce debt collection costs with a customer contract before you grant customers credit.  However, too many small business owners do not have a written contract in any form. If

Accounts receivable are an asset, but in order to be of value, they have to be converted to cash. Although some companies may enter into factoring arrangements and pledge receivables,

Collection agencies get a bad rap. Some of the criticism is deserved. The very idea of receiving a collection call is upsetting. Some collection agencies have been poor actors. If

Most people believe that a collection agency simply makes phone calls and reports debts to a credit rating agency. Certainly telephonic contact is an important part of the process. Although

Accounts receivable management is essential to the financial health of a small business. All too often small business owners forego accounts receivable management, claiming that they are too busy with

“Who ya gonna believe, me or your lyin’ eyes?” – Chico Marx in Duck Soup   Your collection agency is a valuable business partner. When you hire a collection agency,

If you have hired a collection agency, congratulations! You have taken an important step towards improving cash flow and saving time and effort. In order to get the best results,

I have been collecting medical debt for over 20 years. So many things have changed since I started. Small practices have been swallowed up by larger ones, patient out-of-pocket expenses

Do you want to send fewer customers to collections? Do you want to maximize chances of recovery of the accounts you do send to your collection agency?   Here are

What is the statute of limitations for debt in Maine and how is it important to your business? I have written a great deal on the many issues that could

Small Claims Courts were set up specifically to allow business owners the opportunity to bring grievances to court themselves, thereby saving on attorney fees. Courts in Maine and in many

The right collection agency can benefit your business. It is important to hire an agency that shares your goals and reflects your style. A collection agency does a great deal

Most people believe that a collection agency simply makes phone calls and reports debts to a credit rating agency. Certainly telephonic contact is an important part of the process. Although

Collection agencies get a bad rap. Some of the criticism is deserved. The very idea of receiving a collection call is upsetting. Some collection agencies have been poor actors. If

Small business owners everywhere are looking to reduce costs and improve efficiency in their companies, and recover money owed to them.  Some business owners just write off their bad debt hoping

In the past month, we have recovered the following payments for our customers: A patient paid her bill because she needed an appointment A marina customer paid delinquent boat storage

Accounts receivable management is essential to the financial health of a small business. All too often small business owners forego accounts receivable management, claiming that they are too busy with

Over the years, I have worked with a number of medical and dental practices, helping them collect delinquent patient accounts and working with them to improve their credit practices. I

Do you want to send fewer customers to collections? Do you want to maximize chances of recovery of the accounts you do send to your collection agency?  Here are some

All those in favor of ending 2020, raise your hand.                             Certainly 2020 was a difficult year

If you are like many small business owners, you have taken time from your business to work on bad debt collection. In some cases, you may have chased a customer for

You can significantly reduce debt collection costs with a customer contract before you grant customers credit.  However, too many small business owners do not have a written contract in any form. If