Debt collection is a process by which any payments owed by debtors is pursued. The collection is done on an individual level or through a third party called a debt collection agent. Therefore, a debt collection Agency performs the duty of collection debts owed by individuals or corporate organizations to ensure that delinquency management is [...]
What is debt Recovery? Debt recovery is the process of collecting money owed by way of a legal process. It is usually the last resort after all the other collection efforts fail. Each process is unique, depending on the situation at hand. However, there are those common steps that you go through in every debt [...]
Nowadays, almost every company is looking to outsource their debt collections as either they don’t have the required knowledge and expertise to manage it or don’t have sufficient time to do the same. Indeed, hiring a Singapore debt collection agency ensures you the top services and lets your staff devote their precious time to other [...]
For every business, the effective management of working capital or cash flow is necessary as it is an important metric in determining the business's long-term financial health. Without adequate capital, it’s hard to run a business. In fact, the COVID-19 outbreak has raised several working capital challenges; the changes in customer demand & delay in [...]
If you own a business, you would adopt any possible thing to keep it afloat. One vital decision that most business owners need to make is hiring a debt collection agency. Yes! It’s true that not all customers pay their debts on time, and as a result, you have to make them frequent phone calls [...]
Incomplete and incorrect information gives birth to misconceptions. And, when it comes to the debt collection process, which is actually a taboo subject, there is a lot of misinformation floating around on the Internet. Today, we are here discussing some of the myths related to hiring a Debt Collector in Singapore and try to set the [...]
Outstanding debt means the money due to debtors, which remain unpaid for a long time either because they are facing significant financial hardship or taking the matter leniently because they have no intention to pay back. Debt collection is a challenging task and the most crucial aspect of the business landscape. When invoices aren’t [...]
Collecting payment for the products or services you render is an essential key to keep your business afloat. But at the same time, not all customers are reliable and easy to deal with. Have you ever had to deal with stubborn customers who are not ready to pay back? If yes, this is [...]
How to Optimize Collections during this Pandemic Coronavirus is a disease that hit the entire World from November 2019 starting from China, and it spread fast to the entire world. The pandemic brought an economic crisis due to the lockdown measures that prompted everyone to stay at the home part from the essential services. The [...]
Hospitals do engage debt collectors to recover these uncollected monies which are public funds. Everyone is doing their job. There is a system in place to catch these who take advantage of public funds. Generally, hospitals take the following approach to recover outstanding hospital bills. Within 10 days after discharge, patients should receive their final [...]
