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A variety of different types of businesses may need to collect on debts. Some companies provide financial services, and those organizations are always at risk of borrowers falling behind on their payments. Another company may have arranged for material delivery and...
B2B collections can make or break your business's cash flow, but inefficient processes often leave companies scrambling to recover overdue payments. With approximately 70% of businesses experiencing faster payments when they include detailed instructions on invoices,...
Fraudulent transfers are a real risk and can lead to hefty losses for businesses and individuals alike. However, by subjecting transactions to due diligence, creditors can significantly mitigate the risk of falling victim to fraudulent activities. One of the ways to...
Laws require businesses to provide almost complete transparency regarding financial and business decisions leading up to filing bankruptcy. Unfortunately, some will try to hide money or assets through fraudulent transfers before filing. While rare, owners, officers or...
No matter how carefully they construct their credit application, businesses will sometimes find that customers, contractors or business partners do not pay their bills on time. The debtor may explain to the creditor that they are behind because business is slow, they...
Binding contracts are a cornerstone of every successful business. They stipulate the goods, services, delivery date, and cost. They also should include various clauses, including what happens if the customer does not pay their bill. Some go a step further in asking...
Businesses often prefer to avoid Chapter 11 and go into receivership because it carries fewer negative connotations and involves less administrative work. A regulator, private entity or court appoints a receiver to the businesses. Once the company goes into...
Different property owners will have various leases. They likely will vary by building or space. How the owner will inform tenants will likely be based on local and state regulations and conditions outlined in the agreement. It is important to remember that owners must...
Subcontractors, suppliers and design professionals build or improve interior or exterior spaces for commercial use. These are complex jobs that involve business agreements, schedules, and hard work, so the businesses involved deserve to get paid for their effort. Even...
Commercial debt collection involves more than hiring a collection agency. The process of collecting starts with the company that puts agreements in writing. Relying on a handshake or oral agreement may feel better, but a good contract and a paper trail make a...