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8 reasons why businesses rely on debt collection agencies

American Profit Recovery

Many small businesses and larger organizations rely on the expertise and efforts of third-party collection agencies every day. Collection agencies are recovering substantial amounts of consumer debt and helping those businesses drastically improve much needed cash flow. And for good reason.

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How a B2B Collection Agency Can Work Harmoniously with Clients and Customers

American Profit Recovery

For many organizations, managing overdue invoices and recovering outstanding debts can be a challenging and time-consuming task. This is where Business-to-Business (B2B) collection agencies come into play. However, the relationship between a collection agency, its clients, and their customers can be delicate.

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Questions to ask a commercial collection agency before hiring

American Profit Recovery

A commercial collection agency is an agency that works to resolve debt between two businesses. Commonly known as B2B debt collections, it’s the process of mediating financial disputes and overdue invoices owed to a commercial client. You will preserve future revenue by hiring the right commercial collection agency.

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Collection Agency for Construction Equipment Rental

Nexa Collect

Dealers of heavy construction equipment, like Bobcat , Kubota Center, and John Deere , forward accounts to a collection agency after their own reminders and requests to pay have failed. An experienced collection agency that has extensive experience in commercial collections is a perfect choice. Contact Us.

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Connecticut Regulator Revokes License, Fines Agency $100k

Account Recovery

The Connecticut Department of Banking has revoked the consumer collection agency license and imposed a fine of $100,000 on a collection agency for failing to provide information requested during an examination, which rendered the state unable to determine the financial responsibility and general fitness of the operation that it could operate soundly (..)

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Conn. Regulator Fines Company $10k For Operating Without License

Account Recovery

The Connecticut Department of Banking has levied a $10,000 fine against a company for operating as a consumer collection agency in the state without obtaining the proper license. A copy of the ruling in the matter against Lockhart, Morris & Montgomery can be accessed by clicking here.

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Daily Digest – July 19. Class Action Accuses Collector of Violating FDCPA; State Honors Tom Haag

Account Recovery

CLASS-ACTION ACCUSES COLLECTOR OF VIOLATING FDCPA, FCCPA BY ADDING ‘ILLEGAL’ COLLECTION FEE A class-action lawsuit has been filed against a collection agency, accusing it of violating the Fair Debt Collection Practices Act and the Florida Consumer Collection Practices Act because it allegedly added an “illegal” collection fee that represented (..)