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The commercial debt collection industry faces a number of challenges everyday due to rapidly changing technology, regulations, and demographics. It can be difficult to effectively sort through all the information available on an individual debtor, in spite of the fact there is a surplus of information. read more...

Considering how long the pandemic and the related economic effects will last, there is uncertainty for many businesses. This is why amplifying the debt collection process will rank high on many businesses' priority lists so that they are able to secure and generate cash flow. Even though many companies are still fully operational and able to meet their payments obligations, more and more debtors are unable to pay, due to added pressure and uncertainty of the COVID-19 pandemic. read more...

As a business owner, it is vital to keep a good relationship with your customers and contractors, especially, when having to deal with debt collection. Dealing with late payments while keeping a positive connection with your customers or clients may be difficult. So, getting external help from the professionals at eCollect is one method to de-personalise the collection procedures. Inform debtors that taking further action is not a personal decision and is out of your control. read more...

Business owners face the issue of debt collection every day. It takes careful judgment and a systematic approach to recover money that your customers owe the business. The best way to prevent debt problems is to manage debtors effectively. Even so, some customers will not pay on time despite your best efforts. Likewise, procrastination or inaction will reduce your chances of getting any money. read more...

Running a business is hard enough without having to worry about uncollected debts. Luckily for you, debt collection agencies can provide essential services that help your business retrieve its bad debts, build relationships with clients, and reduce business costs. It can be beneficial for many companies who lack the resources, personnel, or time to manage delinquent receivables by working with a credible debt collection agency. read more...

Many small and large businesses follow the same practice for selling products and services and invoicing. This often involves selling now and invoicing later so they have more time to pay. This is a smooth process until a customer decides not to pay. Having debt is a headache; after all, you expect revenue from a business and not outstanding invoices. Interrupted cash flows, regular follow-ups, and stress are some of the consequences of debt. read more...

In the wake of the global pandemic, the worldwide economy has taken a severe hit. The government enforced lockdowns have halted the operations of many businesses and enterprises, which has been especially hard for small and medium-sized businesses. Several companies have been forced to shut down, creating an upward trend in global insolvencies. read more...

Consumer complaints about debt recovery are regularly among the top kind reported to government and legal agencies. These agencies have reported that fake debt collectors from fake debt collection agencies use several deceptive and abusive methods to make their customers pay up, including repeated calls, verbal harangues, and threats to reveal private debt information. read more...