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... »
The truth is, no one wants to be a debtor. It’s too much hassle, it can put a dent in one’s reputation, and it can be mentally draining. Coincidentally, even the people charged with chasing down debtors don’t find it fun either. And so, when push comes to shove, some of them tend to bend the rules to get the job done. Incidents of rule-bending in the debt collection industry are not completely str... »
Like any new business venture, starting your own debt collection agency can be quite exciting. Not only do you get to be your own boss, but it’s also an opportunity to do a lot of good for society. How? I’m talking about helping businesses stay alive through the collection of debts owed. Thanks to debt collection companies who are keeping the wheels of our economy moving, there’s hope for business... »
Remember those days when collecting debts was like the Wild West? Those were times when anything went. Brutality with little to no punishment was so rampant that the government had no choice but to step in with strict measures and debt collection regulations. Don’t get me wrong; I’m all about recovering what’s owed. Besides, how do you keep businesses afloat without proper cash f... »
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... »
Picture this: you came through for some individuals, companies, or other entities in need by lending them your hard-earned money. They gave you their word, or even put it in writing, to repay in the not-too-distant future. But alas, when the time came for them to repay their debt, they failed. Humans and their fickle nature, right? You’ve tried different approaches to recover your money, maybe you... »
Suppose–on the simplest level–you have a customer who owes you money for services rendered and has not paid for the past three months. You have emailed, called, and perhaps even attempted the ‘bumping into them at the coffee shop’ approach. Nothing’s working. What, then, do you do? Better call a debt collection agency! These agencies are professional in the act of locating debtors and persua... »
The primary goal of any business is to be profitable. That means having a positive cash flow. Without that, business operations are bound to run into brick walls and may eventually become bankrupt. Unfortunately, cash flow problems abound across various industries today. Many businesses are owed large sums of money, putting them in danger of folding up. Without debt collection agencies, resolving ... »
If you own a debt collection agency, one tool you must DEFINITELY have in your arsenal is incentives. It’s what successful businesses use to keep their workforce fired-up and committed. So, if you come across any collection agency where the phones are buzzing, the energy is electric, and collectors are closing deals left and right, a strong incentive plan is most likely the secret sauce! Col... »
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. […]
