Your Virtual Credit Manager
JANUARY 16, 2024
Time is as much an enemy as anything else when you are charged with collecting past due accounts receivable (AR), so it is crucial you don’t waste time by making mistakes, which will also serve to elongate the collection process. Here then are eleven mistakes that business debt collectors should avoid: 1.
MNS Credit Management Group
JULY 12, 2023
Bad debt recovery: What is it? The money that your company receives after writing off bad debt as uncollectible is known as bad debt recovery. When the borrower is unable to repay the lender within the allotted time, the bad debt recovery process is initiated. How can bad debts be recouped?
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MNS Credit Management Group
DECEMBER 2, 2022
Who are debt collectors? A corporation or agency that recovers money owing on past-due debts is known as a debt collector. Many businesses that owe money to creditors use debt collectors, who work for a fee or a portion of the total amount collected. Effective Debt Recovery.
MNS Credit Management Group
SEPTEMBER 24, 2023
Consumer And B2B Debt Collections Variation Commercial collections refer to the process of recouping unpaid invoices owing to another company. When a client owes a business money, consumer collections take place. The debt collection industry consists of two distinct functional areas.
MNS Credit Management Group
MAY 28, 2022
The Debt collections business is primed for even greater transformation in 2022, which should come as no surprise. The latest modification to Reg F, lenders’ digital-first strategy to engaging with consumers, and the improving economy are all going to make things more difficult for third-party collectors.
JSP Credit Management
OCTOBER 10, 2021
But what does all this mean for the debt collection industry? If AI can be used to handle complex legal matters, credit lending decisions and the distribution of work for millions of people then the question is could it also be used to undertake the entire debt collection process?
JSP Credit Management
SEPTEMBER 28, 2021
One of the other advantages to such a review is that, especially when it comes to debt collection, it is centred around an activity that is high in volume and transactional value. Doing 30 of these a day is realistic by anybody’s standards, and more are often achievable and expected of debt collectors in their roles.
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