Calling clients to ask for delayed payments or business debts is not everyone’s typical day in the office. Making debt collection calls is an art that takes time to master and involves effective strategies and techniques. The following are some tips for making...
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Debt Collection
Reasons debtors may fail to make timely payments
It can be very frustrating when clients don’t pay what they owe. They took on that debt and made it sound as if it would be affordable. But they have since failed in their obligations to make timely payments, and now it’s having a larger impact on the lender. But why...
Taking collections action against a debtor
Every business, regardless of size or industry, faces challenges related to unpaid invoices or debts at some point. While extending credit can foster customer loyalty and boost sales, it's essential to have strategies in place to recover any money owed to one’s...
When can creditors call?
When creditors have an outstanding debt, they will certainly attempt to contact that individual when they fail to pay the debt back on time. They may do this by email, by sending a letter in the physical mail or by making a phone call. That being said, there are...
Tips on collecting unpaid rent from a former tenant
One of the most challenging experiences as a landlord is dealing with a former tenant who owes you rent and is not paying up. It can create financial strain if you rely on rental income to pay your bills or maintain the property. If you are in such a situation, below...
Collection tips for small business owners
Running a small business isn’t always easy, and there are some tasks that are much more unpleasant than others. One of these is having to collect money that’s due to your company, especially when people don’t want to pay up. Trying to monitor accounts to determine who...
Can you collect from heirs if a client passes away?
If you have a client or customer who owes you money, and they pass away, you might consider contacting their heirs to ask them to pay back the debt. You are sorry for their loss, but you could still be looking at thousands of dollars in debt that needs to be repaid,...
How a lien helps you collect on a debt
Collecting on a past-due debt isn't easy. People who don't want to pay their debts may take extreme measures to avoid financial responsibility. They might quit a job after the court applies a garnishment to their wages. They might cancel their phone service and move...
Strategies for minimizing the need for collections
There’s nothing more frustrating – not to mention potentially harmful to your business – than to have a customer who doesn’t pay on time or in full. It can significantly affect your cash flow and your ability to pay your own bills if you’re dealing with a customer who...
When damage to an apartment leads to unpaid debt
Buying residential properties to rent them out can be a decision that leads to a lifetime of income. People will always need housing, so provided that you keep your properties in good condition, you can expect to consistently be able to rent the units that you own to...