As noted in the Association of Credit and Collection Professionals’ April edition of Collector Magazine, the media scrutiny and misleading information available online regarding the collection industry is intense. To say it is challenging to maintain a positive public image is an understatement. Collection agencies can combat this negative image and help elevate the profession by employing well-trained,…
DetailsAs Americans continue to invest in education, student loan debt out paces mortgage, auto, and credit card debt. According to an article by My Budget 360, student loan debt is now the second largest sector of household debt approaching $1 trillion. This massive increase signals two things: Students applying for financial aid need to be educated…
DetailsAccording to the U.S. Small Business Administration article “Extending Credit to Your Customers,” the benefit of extending credit to your customers is that you give them the option to purchase products or services today and pay for them at a later date. Another reason for having a credit policy is to build customer relationships. When…
DetailsHere are 3 commonly held myths regarding commercial debt collection agencies and their collectors: All Commercial Debt Collection Agencies Charge Exorbitant Fees Every Commercial Debt Collector is Abusive Working With a commercial Collection Agency Means Loss of Account Control and a Decrease in Customer Satisfaction The focus of this article is myth number two, “every…
DetailsAll of us struggle with collecting from insurance companies. It’s not a new issue, but these two solutions are speeding up accounts receivable cash flow for our clients and we’d like to share them with you. The first is called Talking Statements. Talking Statements are automated phone calls made in your office’s name. The calls…
DetailsIn a downturned economy, profit recovery is the lifeline many businesses are in need of, but have no idea exists, or how to go about implementing an accounts receivable strategy that keeps cash flowing consistently and predictably. First, consider this data: Gas prices on the rise: Fox8.com (March 28, 2012) – “The price of…
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