What do you love about owning your own business? You could, most likely, list 100 things that are fantastic about running your own company and your answers would be unique and fascinating. What could derail such positive reasons to be your own boss? We all know that one of the most exasperating experiences of doing business is when we have to deal with customers that don’t pay their bills. This is where a debt collection agency can make a world of difference to a business whose morale might be sagging after running up against clientele that will do everything in their power to avoid paying their debts. These debtors must be convinced that settling their accounts would be in their own self-interest. Here are a few of the many reasons to hire the services of a debt collector to get the job done after creditors have had no luck collecting unpaid invoices.
Topics: Collection Strategy, old debt, debt collections, collection agency, student debt, unpaid debt, accounts receivable, outsourcing, revenue, debt settlement, debt collection regulations, medical collections, medical debt
Topics: old debt, debt collections, collection agency, get out of debt, how to get out of debt, student debt, unpaid debt, being debt free, outsourcing, debt settlement, debt collection regulations, medical collections, medical debt
Debt collection is a tough field. It takes a robust spirit to see the matter through. Though we have a clear objective, the road is not level and smooth. As there is both money on the table and resistant debtors in the chairs, to be successful, we as collectors need a careful strategy. When approaching each account before the journey even begins, we are reminded of the words of Gene Kranz, the flight director of Apollo 13; “Let’s work the problem, people.”
Topics: Collection Strategy, Compliance, Technology, old debt, debt collections, collection agency, how to get out of debt, unpaid debt, accounts receivable, outsourcing, commission rate, revenue, debt settlement, debt collection regulations
From Over-Dunn to Well-Dunn:
A Win-Win Consumer-centric Approach Rooted in Compassionate Communication
Even though not everyone may have a favorable view of debt collection agencies, the fact is, they perform a vital service that keeps costs down and maintains client relationships. Before you take inventory and decide whether hiring an agency is the right move for your business, consider all the ways in which using collections is the smarter and more efficient move for you and your business.
Have you ever asked yourself, just what exactly does a debt collection service do and how does it work? Well then, you’re in luck! We’ve outlined the most common topics about how agencies operate, why we need them, to the evolution and future of the debt collection industry.
Any business that can’t adapt with the times is going to suffer. Technology has revolutionized how consumers and companies communicate and conduct business. The old standard of phone calls and paper bills has become a relic of the past. It’s time to get current and streamline your operations as well as increasing customer satisfaction. Using email to communicate and collect payment is a win-win that empowers consumers as well as increasing collection revenue and positive outcomes.
At some point in your life, you may have wondered what it means to have your medical bills referred to a collection agency. If this does happen, there are short-term and long-term consequences. Let’s unravel any mystery by explaining why this happens and what it means for your credit if it does, what to do if it happens, and how to recover your credit.
A credit score, like a shadow, follows us for life and is either helped or harmed by our choices. A healthy score requires good financial decisions over a long period of time and knowing your risk factors. Here’s what you need to know and how you can use that information to improve your credit.
Topics: Credit, Technology, old debt, debt collections, collection agency, get out of debt, how to get out of debt, student debt, unpaid debt, being debt free, debt settlement, How to boost credit score
Your credit score is important, and if you’re like many Americans, you may be faced with unpaid debts now or in the near future as a result of COVID-19.
Unpaid debt doesn’t require much of an explanation: it’s simply a debt that has not yet been paid. We previously discussed the dangers of unpaid debt and how it affects your credit, but what about your other options like debt settlement? Below, we will explore what debt settlement is, and how it can affect your credit score in the long-run.