Exhausted Efforts? Write-Off Bad Debt.
Year end is fast approaching. It is imperative that you take a realistic look at your receivables. If you want to take advantage of write-offs for monies not realized, you must act now.
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Disaster Recovery and Business Cash Flow
The aftermath of Sandy has left business owners experiencing the storm’s impact: stalled cash flow, anticipated future increase of sales and questions as to how best navigate the short term. Three suggestions or policies to implement immediately are:
Temporary Suspension Extends Time to Collect Aged Bad Debt
When a debt is owed, there is a fixed time limit, a statute of limitations, to file a lawsuit or an appeal. The length of time to bring the suit varies and is dependent on the type of case. For example, in New York State, most breach of contract cases
Temporary Suspension Extends Time to Collect Aged Bad Debt
When a debt is owed, there is a fixed time limit, a statute of limitations, to file a lawsuit or an appeal. The length of time to bring the suit varies and is dependent on the type of case. For example, in New York State, most breach of contract cases
Successful Debt Collection Tips
Want to know FFGN’s secret to successful debt collection tips? FFGN returns an average of 65% of every collectable commercial claim placed for collection, results well above the industry norm. Our secret is prompt, effective communication. Keep reading to see what makes our successful debt collection tips so easy to implement.
Back to ‘Sales’ – Bad Debt’s Impact on Sales
Everyone is officially back to business, seeking opportunities and trying to close new deals. Focus on collecting your receivables and you will not have to “sell” as much. This is because of bad debt’s multiplier effect on sales.
Collection Attorney or Collection Agency
Collection Attorney or Collection Agency: Which is Best for My Business? Working with a law firm dedicated to collection matters may preserve your relationship with your client while simultaneously receiving compensation for your business.
Know Your Potential Customers
Remember the old adage, better safe than sorry? When beginning a business relationship with a client how much credit should you extend? How do you know that you will get paid?
Are Your Receivables The Result of Flawed Credit Policies or Business Practices?
Your credit policies and business practices could be the culprit to rising receivables. As is the case with many businesses nationwide, accounts receivable have increased, negatively impacting the bottom line.
Oh No, Sham Counterclaim!
A tactic used by debtors to intimidate the client from pursuing a valid debt is filing a counterclaim. A counterclaim is a claim raised by the debtor against the client in the answer to the summons and complaint. It is not necessary that the claim stem from the same transaction