Commercial Collections Blog

Assessing Risk when Payment Patterns Change

 

If a customer with a good payment history starts to pay late, or not pay — you need to pull a current credit report on them.

Additional efforts can be; putting them on “Bankruptcy Watch”, reducing line of credit and / or terms of payment, or requiring pre-payment on future shipments until the account is current once again.

The deterioration of financials can be extremely fast. You debtor may have lost a large account, or even gained one – and does not have the funding to service it. Waiting to pursue collections right away may be the difference in getting paid and never seeing your money.

 

Debt Collection News

  • Infusystem Hldgs, Inc. (INFU) COO to Retire, Hires CFO

    April 25, 2018
    The first, Terry Armstrong, brings over 40 years of experience in revenue cycle management, healthcare receivables and collection, information technology. Mr. Armstrong is currently President of State Collection Services, Inc. (“SCS”), a healthcare revenue cycle company which provides accounts ...
  • The Washington Insights Conference is Just Around the Corner: Here's Who Will Be There

    April 25, 2018
    Mick Mulvaney, the CFPB's Acting Director, will keynote the conference while Thomas Pahl, recently appointed Policy Director, Markets and Regulations at the bureau, will provide valuable input to the accounts receivable management industry during the conference, May 21-23 at The Madison ...
  • Sterling Bancorp announces record results for the first quarter of 2018 with earnings per share ...

    April 24, 2018
    In addition, fee income generated on payroll finance loans increased $1.2 million (which represents the majority of the increase in accounts receivable management / factoring commissions and other related fees) and other loan fees including letters of credit and loan swaps increased $433 thousand ...
  • Customer Woes Cause Healthcare Services Group's First-Quarter Profits to Evaporate

    April 24, 2018
    $25 million worth of accounts receivable from Genesis HealthCare is being converted into notes receivable. Management believes this move will strengthen its customer payment obligations. The dividend was raised to $0.19250 per share. This marks the 59th quarter in a row of dividend bumps.
  • Accountant, Revenue and Receivables

    April 24, 2018
    LendingTree was founded in 1996 by CEO Doug Lebda to help people comparison shop and get a great deal on the single biggest transaction of their lives: their mortgage. Since then, we've facilitated over 65 million loan requests, while becoming a household name (our brand recognition rivals Bank ...
  • Kaulkin Ginsberg Announced its Next KG Prime Collaboration

    April 24, 2018
    Ontario Systems offers a full portfolio of software, services and business process expertise, including product brands like Artiva RM™, Artiva HCx™, Contact Savvy®, and RevQ®. Ontario Systems customers include 5 of the 15 largest hospital networks who actively manage over $40 billion in receivables ...
  • VersaPay Adds Regency Centers a Leading US REIT to Growing Customer List

    April 24, 2018
    provider of cloud-based invoice-to-cash solutions including electronic. invoice presentment and payment, automated accounts receivable, cash. application and collections management, is pleased to announce that it. has added Regency Centers as the latest organization to implement. ARCT.