How to Read and Interpret a Commercial Credit Report

How to Read and Interpret a Commercial Credit Report

Many people are unsure of how read to read a credit report or how to interpret what they read. There are as many variations of commercial credit reports as there are commercial credit bureaus. Depending on what type of creditor you are, you may even see variations of the same report on the same company…

A Few Things You Need To Know About Business Process Outsourcing

Business process outsourcing, or BPO, is the delegation of specific business functions to an external service provider to manage and execute daily tasks. There are a variety of reasons to consider business process outsourcing for your business. The primary reasons most firms do so is to save money, and to focus on their core business….

Indemnity Clause vs. Personal Guarantee

Indemnity Clause vs. Personal Guarantee

In the credit granting world, we commonly see two methods creditors use to make the business principal (owner) liable for their company’s debts. The most common amongst the North American creditors is the personal guarantee, whereas the joint/ several indemnifications are lesser-known. Solid legal verbiage combined with the right backup can greatly increase your recovery…

Dispute Resolution & Recovering Your Money Faster

In the world of credit, there are two main reasons for non-payment. Either the debt in question is subject to a dispute due to communication problem or your customer is a collection problem. A professional debt recovery firm must be adept at negotiating in either scenario. Disputes between organizations can range from simple pricing errors…

Should You Use Automation
to Collect From Your Customers?

Increasing Cash Flow with Automated Collections In this PCM Corp post we want to take a look at debt collection automated vs phone calls. In this technology-driven world, automated collections through text messages and email campaigns are commonplace when following up with slow-paying customers. Some forward-thinking companies have incorporated a Chatbot for common questions while…

How to use professional negotiation to maximize collections

The universal truth in negotiations is that everything you want in life is owned or controlled by someone else, so we are negotiating all the time. The other maxim is that most North Americans can’t stand haggling over terms. Examining these two statements, one can immediately see a disconnect. Unless you set out to learn…

Some Nice Guys NEVER Finish

As the old saying goes, “nice guys finish last”;  however, when it comes to cash flow, sometimes being the nice guy means you go out of business and never get to accomplish the dream of building your own profitable business and retiring comfortably. Acquiring customers is hard work, and deciding to extend terms to pay…

Long Overdue: Time for a 3rd Party Debt Collection Agency

Is it time to consider a third-party debt collection agency? Is recovering overdue bad debt straining your ability to focus on important accounts, complete projects, or succeed with your own career goals? Whether you work in manufacturing, real estate, the non-profit sector or any other industry, you are likely to have encountered an issue with…

How Canadian Collection Agencies are Governed

How Canadian Collection Agencies are Governed

The services provided by Canadian collection agencies are governed by the laws of the province in which your debtor resides. If your customer is a business, most provincial jurisdictions do not require a collection agency to be licensed; however, if your customer is a person then many Consumer Protection legislations come into play. Each province…

7 Debt Collection Tips from a Professional Debt Collector

If this article on debt collection tips piqued your interest, take heart. You are not alone. Each day across this great country, there are literally thousands of people who have been tasked with the job of trying to collect money from slow paying customers. Almost everyone in your shoes got the job by accident or…