Few businesses have an efficient system for collecting payments from delinquent accounts, which is understandable because it’s unlikely that they would be fully equipped with the necessary knowledge and tools. Working with a third-party debt collection agency has several significant benefits, including the ability to improve cash flows by recovering more past-due accounts in less […]
In most cases, the fastest way to recover debt owed is to work directly with the debtor. But they don’t always respond to collection attempts, and creditors suffer when they are unable to collect the funds. In certain cases, litigation is the necessary next step in the collections process. When Does Litigation Make Sense? Collections […]
There’s a lot of misinformation floating around about debt collections and the debt validation process. Here’s what’s fact—and what’s not—under the Fair Debt Collection Practices Act (FDCPA). Requesting Validation Consumers with accounts in collections have the right to ask collection agencies to prove that a debt is theirs. Occasionally, debts that have already been paid […]
When clients neglect to pay their bills, it can have a big impact on your business’s bottom line. Hiring a reputable debt collection agency can put some of those past-due balances back into your budget. Ideally, the firm you decide to work with should be able to effectively collect from late accounts without damaging your […]
Altus Provides Five Tips to Cash Flow Recovery When Disasters Strike September 12, 2018 Disasters – man or nature made – can strike at any time. The Federal Emergency Management Agency (FEMA) says that forty to sixty percent of small business never reopen their doors following a disaster. It’s an unfortunate statistic for any business […]
Your company has decided to outsource but searching for the best partner can be overwhelming. If you type “best outsourcing firms” into Google you will get pages and pages of search results but can you trust that these companies are compliant or secure? Start by evaluating only service organizations that are SOC compliant. Not sure […]
Hurricane Season starts today, June 1, and many businesses in coastal areas wonder what this year has in store. Businesses that are unprepared for hurricanes almost never recover so it is vital to secure your assets before a storm hits. If you have never experienced a hurricane, the key to mitigating risk is developing a […]
Drawing from our own experiences, we compiled 10 best practices to help your credit department increase cash flow and improve customer interactions.
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