With the business environment's continuous and improved use of technology to save time and money, you may be wondering whether you should use debt collection software for your commercial collections. While good debt collection software certainly has its place in the...
If you are like many business owners, there are probably many areas in your business that you would prefer to place your focus on before you even begin to think about commercial collections. Customer service, providing for clients, accounts receivable and payable, and...
It happens to all businesses: the need to deal with past due accounts. Some of the commercial accounts may be small and you may not understand exactly how leveraging commercial collections can improve your bottom line. Of course, for past due commercial accounts that...
The process of commercial collections is part of business. While it would be nice if all businesses paid their outstanding balances on time, it's unlikely and, at some point, you will need to get involved in the collections process. There are many reasons why an...
5 Strategies to Help You Build a Better Commercial Collections Process Commercial collections can be stressful for any business owner, whether you run a small mom and pop business or a multinational corporation. With that in mind, here are some effective and simple...
When you're trying to get businesses to pay what is owed to you, you have options. You could attempt to collect on commercial accounts on your own. You could hire a collections agency that specializes in commercial collections. You could opt to sell the debt. Finally,...
If you provide your services or goods to another business, you will, at some point, experience the stress and anxiety associated with past due accounts. It's something that all businesses experience. When businesses don't pay, you may choose to assert your legal...
Preclusion. This complex issue deserves another blog post. As we have touched on, the two types of preclusion (claim and issue) have different requirements. Claim preclusion bars re-litigation of a claim altogether where a second suit involves: (1) the same cause of...
Although a past due commercial account will have its own associated facts that may cause you to create a specific commercial collections plan for it, it is helpful for business owners to understand the collections process. Keep in mind that throughout the entire...
Past due accounts happen to every business. Commercial collections are no easier than consumer collections. When done incorrectly, it can ruin business relationships, damage the online reputation of your business, or cause your business to be the subject of a lawsuit....