Commercial Collections

Inc, LLC, L.P. Sole Proprietorship - When your valued or trusted customers stop becoming loyal by paying their bills, a business must reflect on the next step in the pursuance of debt

Part 1 of 3 The Collection of Debt and Morality: The legitimacy of private debt collection agencies and the problem with big government.

Part 2 of 3 The Collection of Debt and Morality: The legitimacy of private debt collection agencies and the problem with big government.

Part 3 of 3 The Collection of Debt and Morality: The legitimacy of private debt collection agencies and the problem with big government.

When playing the game it’s easy to get caught up in looking at the scoreboard instead of playing the game with eyes on the ball. Cash Flow

Four important things that can significantly increase your chances of getting every penny owed to you. 1 In small business to business transactions

Start by developing a written payment policy. One of the best actions you can take to help customers pay promptly is to put your expectations

The Game of Thrones is, "A Lannister always pays their debts." Even the 'bad guys' in Game of Thrones know that they have to pay their bills

Most entrepreneurs know that it’s critical to send out billing reminders as soon as payment is past due. You can provide a benefit by reminding them of when bills are coming due

Good Communications lead to Good Collections. Emails are all important avenues for communication, not just for marketing but debt collection as well

Making collection calls is a skill you can actively develop No business owner wants to feel like a mobster or loan shark threatening to, metaphorically, break someone’s legs if they don’t pay.

Collection practices should be flexible, but your company should develop a formal collection policy which outlines the timing and type of debt collecting efforts given a number of days

There are four basic principles to follow when collecting debts, ranked by order of importance: 1 Collect the money owed to you 2 Develop a collection policy

When we are talking about how we handle cash in business, the implications broaden even though the feeling of "show me the money" stays the same.

Entrepreneurs and business managers have to restrict access to cash, limit the amounts that can be obtained at any point in time, and permissions

Company's cash accounts are vulnerable to embezzlement and fraudulent activity, cash controls are critical to monitoring credit, collections,

Business credit scores can come from consumer credit reporting agencies like Experian and Equifax, and firms like Fair Isaac Corporation (FICO)