Customers Won’t Pay? How to Choose a Collection Agency

Collections are not easy, especially when a lot of money is at stake. The more the amount of money your client owes you, the more imperative it is for you to be able to employ all possible means to recover your dues. Once all sources of collecting dues have been exhausted, you need to hire a debt collections agency to do your bidding.

Posted on Categories UncategorizedTags , , , , Leave a comment on Customers Won’t Pay? How to Choose a Collection Agency

5 Tips for Hiring a Debt Recovery or Debt Collection firm

Contemplating whether to hire a debt collection agency for your business? Are your customers driving you into a debt ditch, with their overdue payments? If you have exhausted all possible sources of recovery by now, you must be considering hiring a debt collection agency for your business. The higher the debt you end up with, the more important a debt collection agency becomes for your business.

Given the importance of debt recovery agencies, it is necessary to ensure you take the right steps to hire a good ...

Hiring a Collection Agency for Unpaid Invoices

Handling unpaid debt is really an option not many people can afford. You send out an invoice to your customer, but the customer does not pay it. You wait for a few days, send reminders, and still you don’t get the dues cleared. One way is to get frustrated; the other way is to take the legal route and send a demand letter, before going ahead and taking extreme measures.

Demand letter all the way

A demand letter is custom made for customers’ who refuse to clear their pending dues. Ideally, a de...

Five Debt Collection Tips to Recover Outstanding Debt Quickly

Outstanding debt can be a major deal breaker, especially, if you are the owner of a business. No matter what your profession you are in, outstanding debt can wreck your accounts as quickly as they can set them right. For this very reason, it’s equally important to be able to recover outstanding debt quickly, in order to ensure payments remain current at all times.

Here are five debt collection tips to recover outstanding debt quickly.
1) Call weekly on pending accounts: Customer accounts beyond 30 days past due need to be called on every wee...

Customers Won’t Pay? How to Choose a Collection Agency

Some customers, especially the ones who default, can be extremely stubborn at times. No matter how much you call them, mail them or text them, chances are your efforts will all go waste. But does this mean, you need to write the pending dues as bad debts? No, it does not need to be like that. Since every penny counts, there are always ways and means to collect money on outstanding accounts.

Posted on Categories UncategorizedLeave a comment on Customers Won’t Pay? How to Choose a Collection Agency

Five Tips for Hiring a Debt Recovery or Debt Collection Agency

In order to deal with stubborn defaulting customers, you have to hire debt recovery agencies to do your firm’s bidding. With this said and done, it’s important to keep in mind that the right steps are taken to onboard the most appropriate debt collection agencies, so that your business does not take a negative hit in the long run.

Posted on Categories UncategorizedLeave a comment on Five Tips for Hiring a Debt Recovery or Debt Collection Agency

Credit Limits Setting Process

Setting limits is an art and not a science; but for this very reason, it is necessary to be able to use proper judgment when it comes to granting credit and letting customers into your business. Credit limits gauge the maximum limits a company can go to when it comes to offering credit based policies to their customers. This way, they can charge/purchase first and pay later. However, the risk of losing payments is always at the fore, due to which it is extremely important to be able to take the right decisions during the screening process.

What do you need to consider befo...

Pros and Cons of Account Receivables process outsourcing

As a small business owner, you probably have a lot of expenses to meet. For this very reason, outsourcing would appear to be a very lucrative option, when it comes to saving costs and increasing efficiency. At the same time, you would probably also know that it is quite hard to get working capital to meet your daily business expenditures.

During times of shortage, it becomes very necessary for businesses to outsource their accounts receivables, so that businesses obtain efficiency and cost saving benefits for their business opera...