Commercial Collections Blog

If you arrive at the situation of the client that is classified in the training situation, it is important that you understand what should and should not do.

You should insist on adequate audit procedures and also ensure that all employees are paid on time. Ensure all withholding taxes are paid and not rely on verbal comprehension. Everything must be in writing (contract). Creditors involved in training situations should also review all loan documents for accuracy and to review decisions of the guarantees provided and the material tracking possible loans. Creditors should also be aware of personal safety and to ensure that all trade creditors are treated with honesty and gave accurate and consistent answers to your questions.

Also, never, never give your opinions about the future. And make sure if you are a creditor, to attend all board meetings. While many other factors and circumstances to consider, these presented above are among the most important, as a creditor must be aware.

Collection Agency B&A
(702) 442-0853
Solid Experience. Strong Solutions. Since 1979

Technorati Tags collection agency, creditors, Creditors Rights

Turnaround situations often are delicate ones.  While good communication is essential between the turnaround manager and its landlords and vendors, proper communication with and evaluation of service providers can not be down played.  Problems can be created when service providers are awarded projects based on the lowest bid rather than on giving the project to firms that can create or recover the highest asset value for a project.  It is also important to choose the right appraisers, who have a good grasp of all the variables in the appraisal process and who can use that knowledge to create “best-value” situations. This being said, finding the right service providers in a turnaround situation becomes an integral part of the turnaround process. For more information about Turnaround Management:
Collection Agency B&A
(206) 971-1843
Solid Experience. Strong Solutions. Since 1979

Technorati Tags collection agency, Turnaround Management

When a lender considers extending a line of credit to a company, one of the items it will look for is a well-prepared business proposal with proper supporting documentation. Besides stating the purpose of the loan and exactly how the money will be used, some additional supporting documents the lender will look for are; resumes of the principals of the business, a repayment schedule that shows the ability to pay back the loan, collateral to secure the loan, business and personal credit scores (a credit score is simply a measure that estimates, based on solid data, the probability of an individual to pay their debts to their lenders) and  business and personal financial statements. This are basic concepts when small or mid-size business are watching when extending line of credit to customers, so when you request a credit line and you are into a position of financial strength, healthy bank rating, good credit score for your business, good cash flow, etc, your chances of being approved is much greater.
Collection Agency B&A
(347) 857-9487
Solid Experience. Strong Solutions
Since 1979

Technorati Tags business credit report, collection agency, Credit Score, creditors

Accounting departments are responsible for more than just keeping financial records. Increasingly, chief financial officers are in charge of cost-cutting strategies for their companies.
There are two categories of commercial companies – income and expenditure. On the revenue side include sales and marketing and other activities whose purpose is to generate revenue of the company. Half of the expenditure, for example, the administration, operations and personnel, whose task is to manage the costs of doing business.
Such strategies often involve cutting jobs and ending projects, but these are easy short-term fixes that can often fail to address more serious structural issues. Worse, short-term cuts may actually endanger a firm’s potential for growth. For more effective ways to reduce costs, financial officers should carefully and objectively review all of a company’s costs and cut expenses in areas with a long-term strategy in mind.

Collection Agency B&A
(323) 213-9302
Solid Experience. Strong Solutions
Since 1979

Technorati Tags business spending, collection agency, strategic planning

The Uniform Commercial Code (UCC) promotes efforts to regulate laws of sales for transactions made in the US. The UCC establish laws that regulate commercial transactions between states, e.g. Products or goods sold in one state, sold to different state or just simply warehoused in a totally different state, this types of commercial transactions are revised in the UCC chapters.

Payments for Commercial Transactions

Payment orders in the context of the Uniform Commercial Code, are instructions of a sender to a receiving bank, transmitted orally, electronically or in writing, to pay, or to cause another bank to pay, a fixed or determinable amount of money to a beneficiary.  Certain conditions apply, however, the instructions should not state a condition of payment to the beneficiary other than time of payment. The receiving bank is to be reimbursed by debiting an account or otherwise receiving payment from the sender.  Also, the instruction must be transmitted by the sender directly to the receiving bank or to an agent, funds-transfer system or communication system for transmittal to the receiving bank. For more information regarding the Payments made in the UCC regulations contact Collection Agency B&A for more information.

Technorati Tags collection agency, Commercial Collection, Uniform Commercial Code

When we talk about the valuation of assets we refer that a company was  successful or was profitable at the time, but when a company is financially distress exists the fact that this  companies can’t face their obligations like debt and sometimes a distress company doesn’t have enough liquid assets to pay for short term liabilities. But when a distress company does have some assets to face debt responsibilities then one of the biggest differences between purchasing assets from distressed companies that are that investors often do not proceed with the necessary due diligence. Many investors in these non-bankrupt companies feel the need to take quick advantage of the situation and let that guide them. Even if a buyer knows the market, taking the necessary amount of time to properly examine the distressed company’s books and records, if there are lien creditors, etc., should take precedence. When assets are purchased from a bankrupt company however buyers have a level of statutory protection they do not otherwise have when purchasing assets from non-bankrupt firms. For more information please contact Collection Agency B&A 877.740.7839 (toll-free)

Technorati Tags collection agency, distress companies, financial distress companies

During bankruptcy, bondholders will stop receiving interest and principal payments, and stockholders will stop receiving dividends.  When the bankruptcy is concluded, if you are a bondholder, you may receive: new stock in exchange for your bonds, new bonds or a combination of stocks and bonds.  If you are a stockholder, the trustee may ask you to send back your stock in exchange for shares in the reorganized company.  The new shares may be fewer in number and be worth less.  The reorganization plan will spell out your rights as an investor and what you can expect to receive, if anything, from the company. This is way many companies prefer to filed Chapter 11 for bankruptcy protection over chapter 7 and chapter 13 and chapter 11 give business leading to bankruptcy the last chance to be successful.
For more information please contact Collection Agency B&A 877.740.7839 (toll-free)

Technorati Tags bankruptcy, BANKRUPTCY PROTECTION, collection agency

Credit applications can become outdated quickly.  Information on original credit applications ranging from trade experiences and credit line restrictions to management changes and financial information need to be reviewed at least every six months. Especially when conditions change within an industry or in the economy overall, the credit and finance professional needs to be diligent in updating the credit applications of their debtors. Personal and cross corporate guarantees need to be reviewed along with every aspect the original application contained.  Being diligent with these reviews could save your firm from experiencing an unnecessary bad debt write-off down the road. Remember that a business credit report is part of a solid debt collection strategy, for information on planning your debt collection action plan incorporating a business credit report, Burt & Associates our collection agency specialist can help you.

Technorati Tags business credit, business credit report, collection agency

Some Helpful Tips For Collecting on Judgments First, bank on the future by creating liens. An important step in any collection plan is to establish liens (legal claims) against the judgment debtor’s real estate and business property. Liens put you in the best position to get paid if the debtor declares bankruptcy or acquires, sells, refinances or transfers property. Second, do your homework. The more you know about the business or person who owes you money, the more likely you are to get paid. So here’s your opportunity to be a private detective of sorts, and keep tabs on the debtor’s assets, lifestyle and projected financial situation. Here’s a little test. Would you know if the debtor moved, expanded or sold a business, or refinanced real estate? Do you know whether or not the debtor cares about their credit rating? Do you know what could pressure the debtor into bankruptcy? If you can’t answer yes to every one of these questions, you’ve got work to do. Periodically write or telephone the person who owes you money. And third, know when to call it quits. You’ve heard the warning, “Don’t throw good money after bad”. There is much you can do to collect a judgment, but these efforts cost money. And although most judgment collection costs are recoverable, that won’t do you any good if you never catch up with the judgment debtor. So keep a sharp eye on how much you are spending on your attempts to collect. If you are looking a collection agency in New York call (347) 857-9487

Technorati Tags collection agency, Commercial Collection Agency, Judgments

Learning to choose a collection agency or commercial collection agency,  starts with understanding what is the nature of the collection industry. Let say that you have been sending invoices and you are having trouble getting people to pay you.  If so, you need the service of a collection agency. When collecting business to business you need a commercial collection agency that knows and understands the nature of  business owners.  A Commercial Collection service takes the place of your business and starts collecting your past due accounts. Through a commercial  collection agency, you can ensure you are paid on goods and services provided to customers. So if your company is chasing debtors, don’t waste your energy and resources,  let a collection agency do the work for you, while you get back on track. When you need a commercial collection agency in Miami contact them at (305) 735-1910

Technorati Tags collection agency, Commercial Collection, commercial collection agencies