The debt collection industry has changed significantly in recent years: the pandemic, new regulations, and evolving customer behavior have all had an impact on the way debt recoveries are handled. But the transformation of the industry doesn’t stop there as we can already see in 2022, new trends are emerging to shape the way collections agencies work. In this article, the experts at Coast to Coast Financial Solutions have compiled the key trends to watch
Although most businesses want quick debt recoveries, debt collection is a delicate process, and as a client, you should work with a debt collection agency that provides a professional service. Especially in light of CFPB’s new debt collection rule or The Debt Collection Licensing Act in California, your debt recovery agency must be up-to-date on the changes in regulations that affect how they can operate. Curious what these regulations entail and what they mean for
If you often encounter overdue accounts or slow payers, it may have a negative impact on the business. Even if you keep a strict credit check on the credit standards of your clients, it may happen to you. That is to say, nonpayment issues are common when it comes to collecting a debt. Pay collection might have become a constant problem for your business. In that case, maybe it is time you should consider hiring
Are you trying to avoid making calls to your client for debt collection? Do you fear an interruption in operational cash flow due to high account receivables? Do you foresee a possible cash flow choke due to delays in debtor payments? These vital questions highlight the significance of early debt collection. However, many businesses fail to utilize effective debt collection tips to ensure a healthy cash flow. Therefore, in such scenarios, it is necessary to
While sending an invoice to your clients is a crucial aspect of being paid, many small businesses and companies are guilty of making some common mistakes that result in delayed payments. In this guide, leading debt collection agency Coast to Coast Financial Solutions is going to highlight these common mistakes so you can prepare an accurate invoice. Also Read: Things to Consider When Dealing with Overdue Invoices for Your Business Most Common Invoicing Mistakes TABLE
Almost 20 years ago, Coast to Coast Financial Solutions Inc. was founded, bringing together 65 years of experience in debt collections by some of the industry’s best professionals. We base our business on the theory that all our clients have unique needs for collections, and cash flow is critical to any business. To that end, we offer customized and seamless strategies to provide each of them maximized recovery. The size of a business doesn’t matter
Critical to revenue growth, debt collection will be a top priority for most organizations. However, recovering bad debts remains a serious concern among collectors for two significant reasons: Debt collection practices are strictly regulated. States and the federal government have imposed restrictions on debt recovery to protect citizens from the harsh economic realities of COVID-19. So, how do you maximize your debt recoveries amid these threats? As a reputed debt collection agency, experts at Coast
Business debt is among the most prevalent challenges for small business owners. They often deal with delayed and missed payments and the need to recover debts to keep your business afloat. Commercial debtors fall into categories: A debtor that is willing to pay but cannot due to real financial struggles A debtor who willingly delays payments Debtors willing to go any lengths to avoid making payments. Regardless of the type of debtor you are facing,
If you are running a pest control business, you may need to hire a collection agency today. There is no denying that the pest control industry is becoming competitive by the year. Recruiting a collection agency for your accounts receivable can help you focus on your core business and protect against potential lawsuits. Although a large percentage of pest control companies past due accounts comprise residential customers, it is common for commercial business to business
Go-To Debt Collection Services For Any Small Business At Coast To Coast Financial Solutions, we believe in redefining Accounts Receivable Management. As a result of this guiding principle, we work closely with clients to not just collect past due payments, but also increase overall revenue and returns. Are you a small business owner who is considering the help of an agency when it comes to collecting on outstanding invoices and debts? Our team at Coast
