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34 POSTS_FOUND
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Debtor Psychology 101 Author : IRS CollectionsPublished on : August 1, 2021
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Look Before You Sue Author : IRS CollectionsPublished on : July 10, 2021Too many people assume if they sue a debtor company, and-or individual and get a Judgment, that they will automatically get paid. In many cases people will sue blind, without knowing the exact financial situation a debtor is in. Some people let their emotions take over and ignore one simple question: If the debtor doesn???t pay the Judgment voluntarily, then what?Read More
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Published on : June 10, 2021Electronic documents and electronic signatures (eSig) are now more widely accepted and in many instances are legally enforceable, or evidentiary in BC and Alberta. The increase in electronic documents and signatures can be compared to the increase in people sending eTransfers. The pandemic has also influenced and accelerated the convenience and practicality of electronic documents and signatures.Read More
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When to settle a debt Author : IRS CollectionsPublished on : May 7, 2021One of the hardest decisions in collecting potential bad debt is whether to cut your losses and take a settlement of x% on the dollar, or go for the full balance. When considering a settlement it is prudent to factor in the financing costs of carrying your delinquent customer???s debt. Also, what can you do with the settlement dollars right now, as opposed to somewhere down the road. In many instances, a rejected settlement offer can result in the debtor going into receivership or bankruptcy. There are many factors to consider when deciding on whether to accept, or reject a settlement offer.Read More
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Published on : April 1, 2021One of the smartest moves a business can make when extending credit is to have a comprehensive credit application, or agreement. In fact, many credit savvy companies have several variants of their credit application, or agreement, to cover different situations and reduce risk. In addition, every industry and company has its own unique customer credit logistics.Read More