Unclaimed funds, consider them to satisfy your NY debt collection claim. Voluntary payment is not happening and you want your money. Generally to get paid money owed, you must obtain a judgment. The next step is to locate assets to satisfy the judgment. One way of satisfying a judgment is
Bad debt costs money. But do you know how much? Not getting paid has cost you the anticipated profit, maybe some or all the cost involved in servicing the client, and maybe more. Projections did not account for the increased amount of the bad debt. Assuming you can recover some of
For most service providers or suppliers, it seems impossible to get payment in advance. Without realizing it, our internal operations increase the likelihood of a customer failing to pay. There are actions or inactions that can contribute to or be the direct cause of our bad debt. While the following
It’s hard to know when to stop doing business with a non-paying client and start enforcing your rights to payment. Failure to make the decision can put you out of business. Smart credit policies protect you from doing business with those least likely to pay. And smart collection policy designs
Understanding that profit follows risk, does unrecoverable bad debt prevent business owners from taking risk thereby decreasing future profit?
Are you working harder to earn the same or less money? Bad debt write-offs affect more than just a company’s income for a given year; the write-off has a direct impact on the need for future sales. Consider this, the numbers are astounding
Proposed changes to FICO scoring benefit the habitually late payors. Result for lenders is increased risk. If a consumer paid or settled a bill with a