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Directory of collection agencies and debt collectors. Find debt companies and debt collection services that can help you with debt recovery and bill collection solutions.www.business.com/finance/collection-agencies/
Providers of software applications for use by collection servces and agencies.www.business.com/finance/collection-services-software/
Business directory to 401k rollover information and advice.www.business.com/finance/401k-rollover/
Retirement industry advisers and consultants.www.business.com/finance/retirement-consultants/
Companies that provide retirement plan benefits, including 401k plans and pensions. Get information on corporate retirement plans, or how to offer retirement benefits for employees.www.business.com/finance/retirement-plans/
401(k) plans allow employees to save for their retirement by contributing a portion of their wages to an individual account. Employers can also contribute to 401(k) plans in the form of employee benefits; be sure your 401(k) vendor can manage your employees’ investments wisely.www.business.com/finance/401k/
Having bad or old debt on the books of your business hurts the bottom line. Debt recovery programs provide an answer to collecting those debts. Read More »
Nobody wants to send or receive a collection letter, but a well-crafted note can get you the money you're owed without causing undue friction with your clients and customers. Besides avoiding the cost of working with a collection agency (and the hassle and embarrassment for your customers), a good dunning letter gives clients who may have made an honest mistake a chance to put the check in the mail, but also deftly puts the heat on the deadbeats. Read More »
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If your business has a good amount customer accounts that are stalled in accounts receivable, you may need to consider stepping up your debt recovery efforts. There are ways in which you can increase the efficiency of your collection efforts and even find hard-to-locate debtors. Be aware, though, that there are federal and state laws regarding debt collection–do not cross these legal limits or your company could be liable for statutory damages to the debtor along with the debtor's legal fees.
You may want to work with a recovery firm, one which specializes in working on recovering debt for other companies. To determine if this is a cost effective measure for your business, calculate the amount of your accounts receivable and compare it to the cost of a debt specialist. Depending upon the cost comparison, you may decide that it is best to hire an expert firm or you might end up choosing to work in-house on recovering your debt.
If you intend to work on your own debt collection, consider using one of the many credit collection products that are available in order to make the process easier. There are several software suites and programs that can aid in recovering your debt.
Want to learn more? Click on the links on the left to find information from Business.com about debt recovery and how to collect on your accounts receivable.