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So far robif has created 32 blog entries.

3 Crucial Steps To Collecting Outstanding Receivables As States Are Starting To Reopen

2021-04-06T19:17:20+00:00

As the United States passes over a year since a near national lockdown has lapsed, and as states and businesses start to reopen, many small, medium and large businesses are faced with a situation that has not happened in recent years: “How do we collect on our outstanding receivables while also not marring our crucial relationships with key clients.” Understanding three crucial steps to ensure you and your company’s success will help any business, large or small, navigate these situations. -Brandon Buteaux, Director at The Baker Group The Three Crucial Steps These steps work best when applied in chronological order, [...]

3 Crucial Steps To Collecting Outstanding Receivables As States Are Starting To Reopen2021-04-06T19:17:20+00:00

Knowing the Specifics of a Mechanic’s Relation is key to Debt Recovery

2021-01-29T19:36:23+00:00

If you are a contractor, subcontractor or provider of construction materials, you deserve proper payment for your work and/or materials. However, dragging your foot for the allowance you are entitled to is not unusual for the owner of the land or the general contractor. Although others may choose to be patient or resort to phone calls to reach out when waiting for payment, these methods may not be in the best interest. A mechanics lien is an extremely powerful instrument we use to get you results, and they are more effective and popular than ever right now. Mechanic liens are estimated to [...]

Knowing the Specifics of a Mechanic’s Relation is key to Debt Recovery2021-01-29T19:36:23+00:00

Pros and Cons for Invoice Factoring for your Company

2021-01-26T21:03:36+00:00

Invoice factoring can be an interesting way for companies with overdue accounts receivable to easily collect the necessary cash. Factoring businesses can buy blocks of unpaid invoices from a corporation, accounting for between 85 and 90% of the overall value. Invoice factoring frees up cash otherwise unavailable. But is this process right for you? We're going to go through a few pros and cons and decide whether or not invoice factoring is a successful match. Pros Get the quick cash When You Need it Unlike a regular loan that can take weeks to months to process, companies can easily turn their [...]

Pros and Cons for Invoice Factoring for your Company2021-01-26T21:03:36+00:00

What Information is Required by the Debt Collection Agency?

2021-01-25T23:17:59+00:00

Knowledge is power, especially when it comes to debt collection. Providing the correct documents about the debt management agent will help the agency reclaim your company debt.In order to ensure that you get the money owed to you, it is important to give all the appropriate and relevant information to the debt collection agency.The key items that the collection agency would need to recover your debt are the debt of your debtor'sNameAddressPhoneCurrent BalanceDate of Delinquency(SSN and/or DOB) This data would allow the debt collection agency to track down hard-to-locate debtors and ensure that the right offender is investigated. We advise you to [...]

What Information is Required by the Debt Collection Agency?2021-01-25T23:17:59+00:00

What’s Going to be Different in the Accounts Receivable Industry in 2021?

2021-01-21T17:01:38+00:00

Many of us are looking forward to leaving 2020 behind. Yet, most definitely, a lot of what we're seeing right now will spill over to the new year. At least as far as the economy is concerned. Here are five trends that I expect to see appear or persist in the accounts receivable industry in the new year. 1. More automation Faster billing ensures faster payout. The more automated accounts receivable you have, the sooner you get billed. Time is often necessary, but in a declining economy, it is highly crucial that you get your money as soon as possible. As [...]

What’s Going to be Different in the Accounts Receivable Industry in 2021?2021-01-21T17:01:38+00:00

Warning Signs that an Account is Headed to the Collections Department

2021-01-20T16:55:48+00:00

When accounts fall to collections, they tend to follow a predictable pattern. Although every scenario is new and there are industry specifics, if you have served long enough in the accounts receivable industry, you can identify those patterns. Here are three warning indicators that the account is about to go to collections: Communication Both abrupt and incremental declines in communication or client responsiveness are likely to suggest that they are distancing themselves (sometimes a big life shift has occurred, of course, and you should owe them the benefit of the doubt... so that's your call). It is much more likely [...]

Warning Signs that an Account is Headed to the Collections Department2021-01-20T16:55:48+00:00

Here is why Compliance is So Important to a Debt Collection Agency

2021-01-19T17:13:44+00:00

It is true that the debt collections industry is one of the most highly regulated in the world. Not only is each debt collection agency subject to strict federal regulatory requirements for the sector, all of our client sectors as a whole and the data they protect are also highly monitored. Compliance with debt collection is a thorny issue; businesses may be charged substantial amounts of money, not to mention getting their corporate reputations destroyed if the Agency fails to comply with the laws. Regulatory or compliance laws often adjust regularly, meaning that the debt collection department must be at [...]

Here is why Compliance is So Important to a Debt Collection Agency2021-01-19T17:13:44+00:00

Key Differences Between Consumer and Commercial Collections?

2021-01-14T16:54:51+00:00

When trying to figure out which one to choose, you must evaluate your needs. Both collection agencies are the same, aren't they? Not quite. Collection agencies can be distinctive in many ways such as market specialization and who they charge, not to mention customer service, accountability and collection tactics. Few agencies may even choose to divide consumer collections from commercial collections because the collection processes and laws are so different. Based on the client's preferences, one firm could be better suited than the others. Consumer Business Relationships Examples of firms that deal for or sell to particular customers include grocers, [...]

Key Differences Between Consumer and Commercial Collections?2021-01-14T16:54:51+00:00

Here are Few Ways to Improve Debt Collection in 2021.

2021-01-11T17:47:02+00:00

Based on the 2020 circumstances, are you taking the same actions or have you changed your internal and external procedures? Will the possibility of another shutdown have you asking where to go and what to do to get paid back in 2021? New York on PAUSE in March 2020, closed New York courts for almost all debt collection efforts. The need to get paid to stay afloat was not considered urgent enough to bring an emergency application (the only type of debt collection effort that was allowed during the shutdown). Since then, the courts have reopened. Many, [...]

Here are Few Ways to Improve Debt Collection in 2021.2021-01-11T17:47:02+00:00

How to Know if Your Debtor Have the Means to Pay You

2021-01-07T16:55:29+00:00

If a debtor (a person or institution that owes a sum of money) moves and does not update a forwarding address, letter-based communications may be completely lost and 95 percent of collection agencies still send letters, this can lead to a massive drop! Consumers who have accumulated large amounts of debt may be forced to move frequently or left without a home entirely. These customers know that their debts are not going to vanish, so how do you work with them to negotiate and settle their accounts? So how do you find out if they can actually pay? Simple... Skip [...]

How to Know if Your Debtor Have the Means to Pay You2021-01-07T16:55:29+00:00
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