Collection Industry News

OCTOBER 11, 2021

Debt recovery agency Everyday collected €15.6 The increased collections helped the company achieve a significant rise in revenues, which increased to nearly €5 million from €3.03 Galway-based Everyday is one of the largest credit management, debt purchase and recovery businesses in the State.

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Taurus Collect

APRIL 9, 2024

In the dynamic landscape of business, maintaining a healthy cash flow remains a paramount challenge, particularly in the face of rising collection costs. This is where the innovative concept of No Cure No Pay debt collection in the UK presents a compelling solution. It’s part art, part science, and entirely essential.

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Taurus Collect

JULY 11, 2024

Creating a transformative end-to-end collections strategy is crucial for businesses. It involves carefully managing and recovering debts while maintaining positive customer relationships. One important aspect of this strategy is no fee debt collection.

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Stevens Lloyd

NOVEMBER 26, 2018

In our twenty plus years in the commercial debt recovery business, we’ve observed a universal fear among people in business: They want the money they’ve earned but they’re deeply afraid to press too hard lest they upset customers who not only might not pay but could also take their business elsewhere.

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Qualco

OCTOBER 11, 2024

NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. You can view it here. Download it here.

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Debt Recoveries

SEPTEMBER 10, 2020

Let’s face it, snail mail is dead, so your internal debt collection processes should start with some good debt collection email templates. So here are 3 debt collection templates that are guaranteed to get your customer to sit up and take notice: 1. Forget about snail mail. Pre-Due Reminder Email.

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Taurus Collect

JULY 29, 2024

Managing debt collection fees can be a daunting task for any business. An ineffective credit and collections process not only increases these fees but can also strain relationships with customers. This blog post will guide you through simple steps to completely overhaul your credit and collections process.

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Debt Recoveries

DECEMBER 14, 2020

Hi, my name is Adam Stewart, Debt Collection Expert and owner of Debt Recoveries Australia.I Profit is great, on paper, but if you have not yet collected the payments from your sales, even though your books will show a nice profit, your cash flow may well be terrible because you are still waiting for people to pay.

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Debt Recoveries

SEPTEMBER 19, 2022

We,here at Debt Recoveries Australia, are getting a lot of questions from companies who want to start legal proceedings but don’t know how? This is why our partner, ADC Legal Litigation Lawyers, is recommended, a “one-stop shop” for debt recovery and litigation in Australia. . Step 1: Collecting debt

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Debt Recoveries

JUNE 1, 2021

Unless you are actually a debt collection expert like Debt Recoveries Australia , there is a good chance that you have quite a few higher priorities than managing your company’s accounts receivable. You might even delegate that task out to an assistant or employee without much thought to collect debts fast.

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Credit Management Company

APRIL 5, 2022

One way is to hire collection agencies. Finding the best collection agency partner is a reliable way to get the money your business needs. With effective collection agents, you can get paid faster and increased legal protection. The reason for this is that collection agencies take a percentage of the debt they collect.

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On Guard

NOVEMBER 30, 2020

Most UK businesses still rely on antiquated cash collection tools, systems and techniques that ultimately lead to underperforming businesses in the area of cash flow management and debt collection. Covid-19 has brought added pressure to businesses through increased payment timelines across all industry sectors.

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On Guard

NOVEMBER 30, 2020

Most UK businesses still rely on antiquated cash collection tools, systems and techniques that ultimately lead to underperforming businesses in the area of cash flow management and debt collection. Covid-19 has brought added pressure to businesses through increased payment timelines across all industry sectors.

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Debt Recoveries

OCTOBER 31, 2020

In operating and building a company, your accounts receivables are actually an asset to your business, but you still need to collect the money. So why use a debt collector instead of doing it yourself? Here’s why: Quick action results in a higher recovery rate. Wait a year and the recovery rate further drops to about 15%.So

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Debt Recoveries

APRIL 2, 2020

The COVID-19 has taken the world by surprise and we at Debt Recoveries Australia and ADC Legal wanted to share some our top 10 credit control tasks you can complete before you send the debt to a debt collector. AICM ( Australian Institute of Credit Management) is a particularly useful point of reference.

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Credit Management Company

AUGUST 25, 2020

While it may seem counterintuitive at first glance, all of these factors (and more), prove that now is the perfect time to examine your organization’s debt recovery strategy and maybe make a few changes. Debt collection is hard on a good day. Know how to approach your patients about this sensitive topic.

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CICM

JULY 26, 2023

Being able to identify, interpret and communicate any warning signs allows the Credit department to make informed decisions regarding credit extensions, risk management and debt recovery strategies. In the collections and recovery part of the credit lifecycle particularly, you can see how that comes into play.

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Credit Management Company

JANUARY 25, 2022

Business to business debt collection can be hard to understand at first. Check out this guide on who should use commercial debt collections. Even when you try to send customer debt collection requests, they have fallen on black days. This type of debt collection can be hard to understand at first.

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Credit Management Company

FEBRUARY 22, 2022

Therefore, many people find themselves encountering collection agencies at one point or another. Unfortunately, much of what people “know” about the debt collection industry relies more on myths than facts. When people believe these myths about using a collection agency, they often run into trouble.

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Debt Recoveries

JULY 24, 2022

Dealing with non-paying customers can be extremely frustrating, as any credit manager knows. While customers will do anything to avoid paying their debts, it is more practical to hire the services of a debt collection expert to persuade debtors to make payments. . Contact a Debt Collection Expert right away -?Adam

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Debt Recoveries

MAY 28, 2023

One of the most ignored duties in company today is debt collection. When your company receives an order, or possibly even earlier during the quoting or prospecting stage, a debt collection actually gets underway. Early and regular follow up is the most efficient way to avoid bad debt write-offs. Any other tips?

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Debt Recoveries

NOVEMBER 27, 2022

Tips from a Debt Collector . Credit control and debt collection are the two most crucial components of sustaining a solid cash flow since, as they say, cash is king. Here are some suggestions for proactive steps that may take to improve your credit control and, ideally, avoid having to deal with debt collection.

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Debt Recoveries

MARCH 26, 2020

The COVID-19 has taken the world by surprise and we here at Debt Recoveries Australia wanted to share some tips for maintaining cash flow within your organisation in the current economic climate. Accept payment via as many channels as possible, ensure you have EFT (electronic funds transfer), take credit cards, cash, cheques, etc.

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Debt Recoveries

JUNE 11, 2023

In this blog post, we’ll examine the fundamentals of credit control in Australia and offer helpful tips to guide you through this crucial area of business administration. Credit control is the process of overseeing and collecting payments that consumers or clients owe your company. or 1300 799 511.

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On Guard

JULY 17, 2020

A best-in-class order-to-cash (O2C) software solution needs to be best-in-class at all stages of the O2C process if you are to ever zero down on your delinquent DSO days, maximise your AR cashflow position and collections efficiency index. But doing everything all at once is not typically the best way to go.

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Debt Recoveries

AUGUST 29, 2021

Profit is great, on paper, but if you have not collected the payments from your sales, even though your books will show a nice profit, your cash flow may well be terrible because you are still waiting for people to pay. Have a dedicated, reliable, debt collection agency on call, as part of your accounts receivable process. . .

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Credit Management Company

APRIL 19, 2022

Collaborating with a third-party accounts receivable management company can make the process of setting up a payment plan and collecting on bills less challenging. In addition to post-discharge calling services, we offer other third-party services such as: Early out collections. Bad debt recovery. Charity scoring.

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Receivables Control

OCTOBER 29, 2018

There are additional negative consequences resulting from high levels of bad debt. You lose cash flow, you have reduced profits, you lose people’s time in pursuing the sale, and you lose time and expense attempting to collect the debt. The impact of a bad credit decisions is exponentially bad for your bottom line.

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Better Credit Blog

APRIL 5, 2022

A collection account will lower your credit score and can generally stay on your credit report for up to seven years. Often, a collection entry will even keep you from getting a mortgage or securing an auto loan, which is why it’s important to do all you can to remove collections from your credit report quickly.

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