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Advice for Businesses

Keeping the lines of communication as open as possible when collecting debt

By Brian L.

The saying goes, “actions speak louder than words” when it comes to showing who you are or what you are capable of accomplishing. In the debt collection industry, words are what speak louder than actions.  Your choice of words will determine what actions follow.

With conversations being made over the phone, the opportunity is there to build a relationship with a consumer so that both parties can come to an understanding, reaching a resolution that may have been a long time in the making. […]

2023-01-15T12:21:18-05:00January 5th, 2023|Categories: Advice for Businesses, Team APR|

4 proven ways to make debt collections easier for your business

Just about every business we encounter wants to make the process of getting paid on time much easier. Getting late-paying customers to the table and small business debt collections can become an area where many organizations just do not have the available resources.

Take, for example, the lawn care company that works from sunrise to sunset and deals with a labor shortage. Implementing an easier method to collect payments becomes mission-critical for that business.

If your business has been struggling with cash flow and getting your customers to pay on time, check out these four tips our debt collection experts have come up with to make getting paid on time easier for any size organization.

What happens when debt collectors are nice to consumers?

Consumers and the business community should be comforted knowing there has been a consistent industry-wide effort in collections to humanize the process. More and more collection agencies understand the value and critical nature of tactful and respectful communications with consumers.

Why is this important for the public to understand?

Any business transaction should be conducted by interested parties that can come together. The process of debt collections should be no different.

So what happens when consumers are treated with the dignity and respect they deserve? […]

2022-12-29T15:52:15-05:00December 29th, 2022|Categories: Advice for Businesses, Advice for Consumers, Team APR|

4 more myths about debt collections DEBUNKED

Have you ever wanted to know the real story behind the debt collection industry? Want to get the inside scoop on how things really are in the world of debt collections? We got you covered here!

There are untold amounts of myths regarding collection agencies and how they operate. And even more myths about how they interact and work with consumers. So we thought we would share a little bit of inside baseball when it comes to debt collections and debunk many of the myths that people share.

Think you know everything about the debt collection industry? Our team dispels four more myths about debt collections below. […]

2022-12-21T10:01:54-05:00December 23rd, 2022|Categories: Accounts Receivables, Advice for Businesses, Advice for Consumers|

Celebrating the holidays American Profit Recovery style

The team here at American Profit Recovery always takes time to ring in the holiday season. Working in the debt collection industry is fast-paced, and sometimes challenging and it is important for this organization to ensure the entire team gets a chance to experience everything this season has to offer.

It has been a long tradition here to have many opportunities to celebrate the holidays. It is important as an organization to have this as part of our culture and values.

Over the past month, the team has celebrated this season and a year’s worth of individual and team accomplishments. […]

2022-12-21T10:02:18-05:00December 21st, 2022|Categories: Advice for Businesses, Team APR|

Why it’s important for collection agencies to share what they do

There is a lot of important work done by reputable and professional debt collectors daily in this country. This work helps the overall economy, consumers that may be struggling with ongoing debt, and small businesses struggling to meet payroll and other expenses.

The debt collection industry helps larger organizations keep costs down and keeps the workforce employed.

The debt collection industry touches just about everyone. Regardless of whether we know it or not.

For many years, many in this industry flew under the radar and just did their jobs. With the media and others having an unfavorable perception of the debt collection industry, it’s no wonder.

However, debt collections serve a vital role in our economy. Those of us […]

2022-11-23T08:53:51-05:00November 23rd, 2022|Categories: Advice for Businesses, Advice for Consumers, Collection Industry News|

4 consumer myths about debt collections DEBUNKED

To say there is endless misinformation about debt collections in the media and on the Internet would be a vast understatement.

Right up front, you should know that the debt collection industry provides critical and necessary support to not only consumers and the business community but the overall economy.

Just about everyone who works in the debt collection industry fully understands that it can be an uncomfortable situation as a consumer being sent to collections. And one other thing we know. No consumer wants to be in debt and struggling to pay their bills. Consumers do not want to have their accounts sent to a collection agency.

However, it is important to point out that over the years, […]

2022-11-27T13:02:15-05:00November 2nd, 2022|Categories: Advice for Businesses, Advice for Consumers, Collection Industry News|

Tips for placing accounts in collections during the holidays

As the end of the year approaches, a question that many creditors grapple with is, Should I assign slow-pay/delinquent customers to collections around the holidays?”  The answer to that question should be a resounding “Yes.”

There are many reasons why it benefits a business, as well as its customers, to have past-due accounts placed in collections during the holiday season.

As with any time of year, the longer a business waits to assign any slow-pay/delinquent accounts to collections, the less likely those accounts will ultimately get paid.  The consumer will place a lower priority on resolving the debt the longer it stays past due without any contact other than a monthly “Balance Forward” notice.  Consumers may even […]

2022-10-20T07:56:48-04:00October 20th, 2022|Categories: Advice for Businesses, Small Business Collections|

4 ways to fix problems with small business cash flow

Our economy is changing rapidly and there has never been a better time for your business to do a health check. Everything seems to be rising for those running a small business.

You’re battling rising costs of inventory, an increase in payroll costs, what you pay for transportation such as our lawn care clients and of course rising interest rates. Those interest rates not only affect you as a business but are ultimately causing your customers to rethink their finances.

Many experts have indicated that these economic conditions could last for some time. Before it gets too late and you find yourself in a troubling situation where hard decisions need to be made, it is a smart […]

2022-10-11T08:42:20-04:00October 13th, 2022|Categories: Advice for Businesses, Small Business Collections|

Why is this collection agency so focused on consumer compliments?

Over the past couple of years, you may have noticed that our team has paid particular attention to tracking the compliments and kind words that consumers give our debt collectors. While many types of businesses only track numbers, we pay attention to what people are saying.

Keeping track of the compliments that consumers have provided our debt collection team and others here on the staff has provided tremendous value and how we operate as a collection agency. Of course, we track the success of our debt collection efforts but what is equally important is the manner we communicate and the collaboration we can ultimately foster with a consumer.

There are several reasons why part of our collection […]

2022-10-11T09:03:36-04:00October 11th, 2022|Categories: Advice for Businesses, Small Business Collections, Team APR|
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