In 2019, 60 percent of debt collection revenue came from nonfinancial debts like utilities. Collecting on overdue accounts is critically important for municipalities. Municipal debt can leave your city or county with budgetary problems. You want to recover the money your customers owe you. How can you collect these debts more successfully? Learn more here
Did you know that the average amount of debt for Gen X is $140,643 and for millennials is $87,448 in 2020? With debt owing, increased expenses, and a fluctuating job market, repaying debt can be difficult for some people. Unfortunately, you need to get paid to be able to run your business. This is where
In the perfect world of business, payment gets tendered at the time of the exchange. Since we live in a society where credit is vital to the success of many industries, you may need a debt collector to recoup funds. Debt collection is a process business owners don’t want to deal with. Their employees are there
Are you in the dentistry field? Perhaps your account receivables have accumulated and are fouling up your cashflows. If so, then working with dental collection agencies is invaluable. Whether for private practices, dental groups, or dental service organizations, the right debt collection agency can help you recover debts. But you don’t want to soil your
People often believe that businesses are greedy, seeking to prey on customers to fatten their wallets. However, any business owner will tell you that corporate revenue doesn’t all go to the men at the top. It pays bills, debts, and salaries for all the workers. For this reason, if you run a business and your
Professionals in the medical field provide an essential service for the people they see. There’s nothing more rewarding than being able to help a patient, but problems can arise when it’s time for them to pay. It’s no secret that medical care can cost a considerable amount of money. Patients who become delinquent on payments can be difficult
Although total medical debt has declined across the U.S. since the great recession, still an astounding 79 million Americans have medical bills or medical debt problems. This number is why so many medical offices have turned to collection agencies for help with debt recovery. However, there are many more reasons to hire a medical collection
There’s nothing worse than clients who fail to pay their dues, especially when your business is in the financial doldrums. If that’s the case, you have two ways to handle the matter. You could let your clients go scot-free and embrace your loss or hire a debt collection agency to do your bidding. If you’re
A study revealed that debt collection agencies recover over $78 billion every year. The figure clearly shows that the services administered by debt collection agencies work. You should therefore give it a try if your customers have surpassed the payment period agreed on. However, not all debt collection agencies operate the same. You have to get
Many people forget that healthcare organizations are for-profit businesses. Just like any other business, healthcare providers have overhead costs to maintain, staff to pay, and important expenses to cover. When patients skip out on their bills, these organizations become at risk for experiencing limited cash flow and revenues. Unfortunately, all of this can take place
