10 Common Mistakes to Avoid During Debt Collection

10 Common Mistakes to Avoid During Debt Collection

by | May 22, 2024 | Blog

Debt collection is one of the most important and trickiest processes that impact the cash flow of a business. When not done properly, debt collection can have financial repercussions and reputational damage. With a process this important and intricate, mistakes can...
Top 5 Benefits of Business Process Outsourcing

Top 5 Benefits of Business Process Outsourcing

by | May 15, 2024 | Blog

Business process outsourcing (BPO) is the practice of contracting with an external company to handle specific business functions or activities.  Essentially, you hire a specialist outside your organization to take care of certain tasks, allowing you to focus on...
How To Tackle Uncollectible Accounts

How To Tackle Uncollectible Accounts

by | May 2, 2024 | Blog

Uncollectible accounts, also known as bad debts, are receivables that a business is unable to collect from customers due to various reasons such as bankruptcy, financial difficulties, or disputes. These accounts pose a risk to a company’s financial health as...
5 Proven Auto Loan Delinquency Prevention Methods

5 Proven Auto Loan Delinquency Prevention Methods

by | Apr 26, 2024 | Blog

According to an article by Federal Reserve Bank Philadelphia, auto loan debt is now the third-largest debt category after mortgages and student loans. The first quarter of 2023 saw a $10 billion increase in auto loans, bringing the total to $1.56 trillion. With the...
Trends in Debt Collection Outsourcing

Trends in Debt Collection Outsourcing

by | Apr 17, 2024 | Blog

In recent years, the landscape of consumer finance has undergone significant transformations, leading to an alarming increase in debts across various sectors. According to Gitnux Market Data, approximately 70 million Americans have a debt in collections.  With...