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 […]
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