Articles related to the Collections category
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Human Screensaver Debtors Author : IRS CollectionsPublished on : January 27, 2025
Sometimes it takes time for a creditor to realize the delinquent debtor they are trying to collect from is a human screensaver. You know, the type of debtor who claims their payment is just around the corner and the future is promising. While they have painted a promising future so things look pretty, they never seem to actually follow through and do anything.Read More -
Published on : December 11, 2024
Many Law Firms don't realize they have a potential gold mine in their filing cabinets of "dry Judgments?. A limited company may be insolvent but in many instances the Judgment also covers principals, or individuals who have moved and-or hiding their revenue sources and assets. New cases and Clients change priorities, while many Judgments are left with partial results, as there just isn't the time or resources to pursue further.
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Published on : May 31, 2023
The present inflation, shortages and tight credit economic environment are causing many companies to go out of business. According to Statistics Canada, the total number of business insolvencies in March 2023 was 36.8% higher than the total number of insolvencies in March 2022. Consumer insolvencies increased by 28.0%. Many of these bankrupt companies have been hit by stagflation where the wholesale prices have increased but market competition limits how much they can charge to stay competitive.Read More -
USD De-dollarization Author : IRS CollectionsPublished on : April 23, 2023
A major financial storm is approaching that will negatively impact the financial economies of the United States and Canada. For decades the USD (United States Dollar) has been the standard currency in international trade. This has enabled the US to print money and spread risk to countries that had to keep a USD reserve for trade. Unfortunately, the US has created a massive debt load they can never pay off. As a result, the USD is well on the way to losing world reserve currency status.Read More -
Published on : February 27, 2023
Many companies will successfully navigate through 2023 and adapt to what changes may come. However, there are vulnerable groups within different industries and markets that are exposed to negative credit trends. If you deal with some of the vulnerable groups mentioned below be sure to monitor for changing payment habits.Read More