Bad Debt Collector Deductions 
Your Virtual Credit Manager
MARCH 4, 2025
Based on this industry outlook, there was staff performing collections and deduction resolution, but no credit function. This company was fortunate to avoid significant bad debt loss until Ames Department Stores, Kmart, and Fleming Foods (a distributor) all filed bankruptcy within the same year.
Your Virtual Credit Manager
JANUARY 17, 2023
Assign Collections to an Existing Employee : When doing this you need to consider if the person being assigned collection duties has the time and demeanor to be an effective collector. Again, you need to also keep in mind the impact from putting other tasks on a back burner. it just might help them pay you sooner!
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Your Virtual Credit Manager
JANUARY 3, 2023
” This junk AR comes in a variety of forms, such as: Short payment/deductions Debit memos Unapplied credit memos Unapplied cash Late payment fees and other surcharges Early payment discounts taken but not deserved Clutter obscures the true amount a customer owes and causes confusion.
Your Virtual Credit Manager
APRIL 18, 2023
Smaller agencies will often work with small companies whose collection requirements involve much less than one FTE (full-time equivalent employee) — large agencies typically want enough business from their clients to support a half-time or full-time collector. to minimize the chance of bad debt loss.
Your Virtual Credit Manager
JANUARY 9, 2024
Two weeks ago we recapped the three most read articles from 2023: identifying red flags, understanding why customers pay late, and the secrets of successful collectors. In contrast, profit driven enterprises often miss opportunities because they are too restrictive out of a fear of bad debt losses.
Waystar
MARCH 15, 2023
With a staggering amount of patient bad debt on the horizon, it’s crucial to execute a reliable pre-visit clearance process. In order to transform the clearance process, you must estimate and communicate the patient’s financial responsibility, including any unmet deductibles, before service. PAtient financial experience TIP: 3.
MNS Credit Management Group
DECEMBER 2, 2022
Who are debt collectors? A corporation or agency that recovers money owing on past-due debts is known as a debt collector. Many businesses that owe money to creditors use debt collectors, who work for a fee or a portion of the total amount collected. Introduction. Key Takeaways.
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