As discussed in previous articles, creditors seeking to collect on old accounts that are long past due must collect within their state’s defined statute of limitations. Failing to recover unpaid bills before the statute of limitations expires means sacrificing any legal recourse to sue the borrower/debtor to force them to pay what they owe. However,…
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In-house collections is rated according to the standard known as the Collection Effectiveness Index. How effective are your collections
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Time-barred debt also directly affect business credit as well. Collecting on old debts is a bit of a two-edged sword because it gives the creditor a chance to recover some or all of their unpaid accounts
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Lender and Collector Strategies for Helping Borrowers Overcome Debt Fatigue. Borrowers both individual and corporate allow their debt to stack up over time
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In brief, Debt-Service Coverage Ratio (DSCR) is a rating method for a business’ cash flow that they can use to meet their debt obligations. This ratio is essentially
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For owners, it is essential to maintaining a good reputation with your suppliers to manage your DPO appropriately. Paying on time fastidiously
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50% of their time manually locating individuals or correct contact information for debt collection purposes. Over 95% of all debt collectors
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The problem that is driving this trend is the pre-qualification process for traditional lenders, most of whom go over every detail of an SMB with a fine-tooth comb
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The debt is not mine, or I don’t owe the debt. (23 percent) I haven’t been given enough information to verify debt. (22 percent) I paid the debt
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What is Debt Discharge or Debt Forgiveness? So what is debt discharge and how does it work exactly? Don’t you always have to pay off the debts that you owe?
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