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37 POSTS_FOUND
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Published on : June 10, 2021
Electronic 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 -
When to settle a debt Author : IRS CollectionsPublished on : May 7, 2021
One 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 -
Published on : April 1, 2021
One 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 -
Published on : March 1, 2021
Ghosting, or putting a creditor on permanent ignore, is fairly common in consumer debt collection. While this has remained constant in consumer collections, we have noticed a substantial increase of commercial debtors (especially limited companies) who have chosen to cut off communications with their unsecured creditors. All of a sudden you can't get the person responsible for paying your receivable on the phone. Messages are never returned and the debtor company has stuck their head in the sand, hoping you will give up and just go away.Read More -
Published on : February 6, 2021
There are provincial Statutes of Limitations on when you can sue, or litigate, a debt in different provinces. In the US the Statutes of Limitations for different states can be anywhere from 3 to 15 years. Whether you are lending or collecting, it is wise to be aware of the Statutes of Limitations in the states or provinces where your customers reside.Read More