Bad Debt Collector Credit and Collections 
Your Virtual Credit Manager
DECEMBER 31, 2024
In our case, we found a continued interest in collection technique and strategy, as well as in fighting credit fraud. Delaying collection efforts sends a message to customers that late payments are acceptable, establishing a bad precedent. To avoid this, collections should begin within 3-7 days of the due date.
Your Virtual Credit Manager
MARCH 4, 2025
We often talk about the importance of having an efficient and effective collection process and how, from a process improvement perspective, collections automation provides substantial benefits. We don’t, however, want to minimize the importance of the credit side of the equation. Bad debt losses were understandably huge.
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Your Virtual Credit Manager
FEBRUARY 25, 2025
A customer that pays on time does not require any collection efforts. Those who sometimes pay on time only require a collection effort when they pay late; getting them to pay is usually not difficult. Since they are abusing your credit terms, why not require them to pay with a credit card when they place an order?
Your Virtual Credit Manager
MARCH 14, 2023
Commercial collections is no different. Collection myths can be found at the very root of bad decisions as well as informing counter-productive activities. Adhering to collection myths more often than not leads to bad outcomes. Simply put, collection myths get in the way of doing the best job possible.
Your Virtual Credit Manager
JANUARY 17, 2023
Inevitably they will need to initiate Collection activities to recover some of this money owed; in other words, contacting delinquent customers and requesting them to pay your firm for goods and/or services provided on credit terms that have become past due. it just might help them pay you sooner!
Your Virtual Credit Manager
JANUARY 16, 2024
If you sell on open credit terms, you need to plan on having to expend time and resources collecting from those customers that don’t pay when due. No matter how much effort you put into evaluating customer credit, some customers will not live up to your expectations. You need to be doing the right things.
Your Virtual Credit Manager
NOVEMBER 1, 2022
Photo by Kenny Eliason on Unsplash Effective collections is the single most important factor for achieving reliable cash inflows. Effective collections can also reduce bad debt losses by compensating for a liberal or weak Credit Control function. Procrastination only makes a past due situation worse.
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