Commercial collections can be confusing for business owners. One of the most common concerns we've noted is the statute of limit on commercial collections. Different sorts of debt have different time limits. Can an older commercial debt ever have that time limit reset? In many instances, the answer is yes.
Commercial collections happen because a business owes you money for products or services that you provided. Here's what you need to understand about the process.
The commercial collections process is subject to certain laws and an ethical commercial process is essential to staying in business. Yes, collections can be difficult and frustrating. However, it is important that you and your employees maintain an air of professionalism and obey collections laws. Otherwise, your business could be named as a defendant in a lawsuit that involves the government as a plaintiff. Here are some ways that you can ensure that your commercial collections process is above board.
Commercial collections can be stressful for a business of any size. And, without the right tools in place, it can be challenging. For example, the older the debt, the harder it may be to collect on it. Here are four ways that you can improve your commercial collections.
Commercial collections can be a frustrating process. Here are 4 commercial collection tips every business owner needs to know.
Commercial collections is a process that occurs when an account used by a business goes unpaid and the service or goods provider takes certain steps to attempt to collect on the money that is owed to them. As many business owners can attest, this is often not a simple chore. Here are 3 commercial collections questions every business owner should ask before starting the process.
Many businesses begin the commercial collections process in-house (read more on that here). While this can seemingly be a cost-effective way to recover past due accounts, there are some accounts that are harder to collect on. So the big question is: When should you outsource your commercial collections? Here are a few things to consider.
As many businesses can attest, the commercial collections process often starts with making a phone call. Usually, businesses will begin by placing the collections calls on their own. This process, known as first-party collections, can be difficult for employees with little to no collections experience. To help, we've put together this useful blog post to teach you the dos and donts of your commercial collections phone calls.
The business world would be close to perfect if accounts never went past due. Unfortunately, it is a tough reality that almost every business that provides goods or services for other businesses will eventually face unpaid accounts. Why should businesses care about commercial collections instead of just writing off unpaid accounts? Here's why.
When it comes to commercial collections, there's one main rule that you should follow. And that rule is to do it now (or, as the famous slogan goes: Just Do It!). In other words, don't wait to collect on past due accounts. Here's why.