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Effective Tips For Collection Of Debt

If you are in a business that deals with lending money to people then you are automatically involved in debt collection. Many people believe that collection of debt is an easy process but the reality is that it is often a tedious and tiring job. Bad debt is a growing problem that is affecting businesses of all sizes and every company has its own share of non paying customers. … [Read more...]

The Benefit of Using A Collection Services Agency

If you are a business owner and have several debts in your accounts payable that have gone beyond a normal time frame when you expect to collect, you need to look into the possibility of hiring a collection services agency. There are different time frames for different businesses, but whether it is 60 days, 90 days, or even more time, the moment you go from reminding people of … [Read more...]

Fair Debt Collection Practices Act | FDCPA

The Fair Debt Collection Practices Act (FDCPA) was created as a Federal statute in the year 1978, as Title VIII of the Consumer Credit Protection Act. The purpose of this act is to eliminate harassment of a consumer in the process of debt collection. The Act specified a list of do's and don'ts while collecting debt. It also defined the Consumer's rights under the Act. FAIR … [Read more...]

Bad Debt – How Business Owners Must Deal With It

Are you starting to get worried that one or more of your customers will never pay your debts to you? Have you encountered a client who has directly told you that he does not intend to pay? Are you bothered by the fact that such non-payments actually have an overall negative effect to the financial aspect of your business? Fret not, for there are ways on how to collect this bad … [Read more...]

What You Need To Know About Collection Agencies

The World Bank estimates that about 80.3% of all business deals in the world are done on some form of credit. However, about half of all those debts are either paid late or end up as bad debts. To avoid losing your money and also keep a generally good relationship with the customer,the services of collection agencies are required. So, what is a collection agency? A collection … [Read more...]