Small Business Education Center

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Principles for Collecting Debt

Past Due Reminder for Business

Some entrepreneurs get creative in the way they collect debts. One of the more interesting stories that I can recall from memory is when a Texas electric grid contractor accepted a classic 1960’s Corvette and a 65ft sailboat located in California instead of a full cash payment. Another interesting collection story was when a merchant […]

Credit Letter

When your company is involved in exporting, if the documents presented do not conform precisely to the terms of the letter of credit, your company may well have lost its right to receive payment. While your bank can request a waiver from the buyer, if the buyer balks, your company could be out of luck. […]

Debt Collection Agencies and the Supply of Consumer Credit

The activities of third-party debt collectors affect millions of borrowers. However, relatively little is known about their impact on consumer credit. To study this issue, I investigate whether state debt collection laws affect the ability of third-party debt collectors to recover delinquent debts and if this, in turn, affects the amount of credit being provided. […]

2015 Fair Debt Collection Practices Act

The Federal Trade Commission (FTC) is the nation’s consumer protection agency. The FTC works to prevent fraudulent, deceptive and unfair business practices in the marketplace. For your information is available the 2015 Fair Debt Collection Practices Act. FDCPA 2015  

My Customer Hasn’t Paid Me

Accounting Rule #48

What is a Commercial Debt Collection Agency?