First, let’s talk about what we mean by “old debt.” Once you’ve missed payments for about 180 days, your debt becomes “seriously delinquent.” This is usually when things start getting interesting (and not in a good way). Your original creditor might decide they’re tired of trying to collect and sell your debt to a collection agency for a fraction of what y... »
Here’s the thing about debt collection: it’s a legitimate business practice. Collectors are supposed to reach out through various channels: mail, phone calls, and even fax. And sure, they’re just doing their job. I mean, everyone needs to make a living, right? But there’s a fine line between persistent and pestiferous, and some collectors treat that line like it’s a s... »
A debt collector works with individuals and businesses who have fallen behind on their payments, whether it’s for a credit card balance, medical bills, or other financial obligations. They’re the professionals who step in when regular payment reminders haven’t worked, using their expertise to find constructive ways to resolve outstanding debts. Wondering if debt collection is the... »
As a business owner, chasing down unpaid debts isn’t exactly how you imagined spending your entrepreneurial journey. It’s about as fun as trying to teach a cat to fetch. That’s precisely why many businesses turn to debt collection agencies. After all, these agencies live and breathe to recover unpaid debts. Now, debt collectors have quite a few tools in their arsenal. They can se... »
You know what’s fascinating? While everyone else was jumping on the tech bandwagon or trying to become the next social media influencer, debt collection has been quietly creating highly-paying careers for people who aren’t afraid to roll up their sleeves and do meaningful work. And trust me, in today’s economy, where credit card debt keeps soaring, this industry isn’t going... »
Ever wondered what happens to those stubborn unpaid bills that businesses can’t seem to collect? Well, it’s usually debt collection agencies that come to the rescue. They often swoop in when businesses have exhausted their “pretty please pay your bill” emails and awkward phone calls. They help bridge the gap between businesses desperate to collect what they’re owed and debt... »
We all know that cash flow is the lifeblood of any business. Without proper cash flow, how will you pay your bills or compensate your employees? Even the government is always awaiting their piece of the cake (tax). Fail to fulfill any of these obligations, and your business doors may become permanently shut. So, what can you do when those payments start lagging? How can you ensure a couple of unpa... »
Picture this: you’re sitting at your desk, staring at a stack of unpaid invoices, medical bills, or credit card debt. Sound familiar? If you’re a business owner, then you’ve probably had a taste of such an experience at least once. A bitter one, I might add. Recovering your own money from debtors suddenly feels like you’re trying to squeeze water from a stone seemingly impossible. Let’... »
I know going after debtors, especially the sneaky, adamant ones, is no fun. Nevertheless, debt recovery is a necessity on so many levels. The alternative is watching as countless businesses grind to a halt all because some people or bodies refused to honor their overdue payment. Let’s not even get started on the aftermath effect on the general economy. Debt collection agencies are the unsung... »
In an ideal world, people will honor all their financial obligations as and when they are due. But let’s face it: life is unpredictable, and sometimes things get in the way. Sometimes, juggling between medical bills, student loans, and other obligations is not quite a smooth ride. And before you know it, you may find yourself drowning in a sea of overdue notices and final warnings. It’s times like... »
September 10, 2014
The debt collection industry, as almost everyone knows, doesn’t get the best coverage in the media. Here at Connection2Collections.com, we want to show support for the industry professionals and help them be confident and responsible in their work. […]
