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Posts Tagged ‘commercial collection agencies’

You should call in a credit collection agency sooner rather than later. The longer you wait to begin the collection process on overdue accounts, the less of a chance you’ll have at recovering your money.

The day after an account becomes overdue, you should place a polite phone call to the customer who owes you money. If that doesn’t work, you may want to send a few reminder letters yourself, or you may want to go directly to a credit collection agency. Base your decision on how much money is owed to you and the history of your relationship with the customer. If it’s the first time you are doing business with them, you’ll want to call in a credit collection agency sooner than you would with a 10-year old customer with a solid credit history.

U.S. Bankruptcy Code imposes something called an automatic stay the moment that a petition for bankruptcy is filed. The automatic stay will typically prevent the enforcement, commencement, or appeal of actions and judgments against a debtor from the creditors they owe money to who are trying to collect these debts incurred prior to the bankruptcy petition. The automatic stay also protects property of the bankruptcy estate itself from collection actions and proceedings.

If a creditor violates the automatic stay their actions are voided out. Any violation of the stay might cause the violating party to have damages assessed to them. But, like every complicated law, there are exceptions. A creditor might be allowed to take their collateral if they obtain permission from the court first. They’ll get this by filing a motion for relief from the automatic stay.

Would you be mortified if a man in a tuxedo and a top hat followed you into a restaurant and silently joined your lunch date? How about a trio of men with more to love dressed like superheroes asking your neighbors for donations to assist you in your financial situation?

In Madrid, make sure that your bills are paid or you might be visited by one of these crazy characters. The recession has slammed Spain. Official figures show that the unemployment rate has sky rocketed, reaching 19.3 percent. That’s one of the highest rates in Europe. About four million people aren’t working. That’s the same number of jobless people as France and Italy combined. One business is flourishing however, that business is debt collection.

If your job description involves collections at all, you need to know how commercial collection consultants can help you. If you have a small business, work for a large company, or even are part of a government concern that does collections like a utility or a tax office, at some point you may have considered hiring a collection agency. Commercial collection consultants are even better.

Commercial collection consultants handle collections but unlike a collection agency, they use the most modern and up to date methods of recovering money. Whether it’s gathering information under the auspices of an audit, hiring a private investigator to help, or keeping an eye on collection deadlines in order to maximize collection efforts, a commercial collection consultant will solve your collection problems.