The Collection Advisor

Collecting Debt During the Holidays

Posted by Brian Summerfelt on Nov 9, 2017 6:58:28 AM

For many businesses it’s an all-too familiar story. A perfect storm that blows in every single year.

When times are good, it can be manageable. But when there’s a recession (or sluggish recovery from one), the impact can be devastating. It often plays out like a car crash in slow motion. You see it happening, but are helpless to stop it.

It’s a collision of 3 terrible forces, actually: increased costs, decreased efficiency, and paralyzed accounts receivable. But there is a solution.

Read More

Topics: Debt Collection

Collection Agency Horror Stories (Updated)

Posted by Brian Summerfelt on Oct 17, 2017 2:25:12 PM
UPDATED: New Story Added Oct 2017
First published Oct 2016

Debt collection can be the stuff of nightmares for many business people.

Chances are, your receivables have kept you awake far more nights than fear of a zombie apocalypse or of chainsaw-wielding maniacs. Debt is terrifying, because it’s real life. (Even more so than those other things.)

Read More

Topics: Collection agencies, Debt Collection

6 Debt Collection Stereotypes That Are Dead Wrong

Posted by Brian Summerfelt on Jul 28, 2017 8:48:40 AM

There's unquestionably a stigma associated with collection agencies, and I believe it is up to people like me within the industry to change it.

Here are 6 commonplace debt collection stereotypes that business owners and AR managers should stop believing:

Read More

Topics: Debt Collection, Collection Agency Jobs

Getting Stiffed? Here’s What You Must Do Now.

Posted by Brian Summerfelt on Jun 6, 2017 11:20:12 AM

Few business situations are more stressful or frustrating. 

You’ve done everything right. Prepared the most thorough proposal. Sold your product like a champ. Provided fantastic customer service. Delivered as promised. Sent the bill. 

Radio silence.

Read More

Topics: Collection agencies, Debt Collection

10 Debt Collection Hacks: The Expert’s Cheat Sheet to Always Get Paid

Posted by Brian Summerfelt on May 10, 2017 10:41:40 AM

Commercial debt collection is a complicated, sensitive and high-tech industry. I’ve been working in it my entire career, and am still learning new things daily.

But for business owners and Accounts Receivable Managers, collecting overdue accounts does not have to be rocket science. By leveraging a few expert hacks, you can collect on time consistently, with minimal grief.

Read More

Topics: Collection agencies, Debt Collection

What’s Stopping You from Collecting Debt Now?

Posted by Brian Summerfelt on Mar 23, 2017 7:30:00 AM

If your business is like most, the majority of its receivables sit in the 0 to 30 days column of an Accounts Aging report. It’s comforting to know most of those will be good. But have a look at the 31-60 days group. What’s up with them lately?

You might see a few more than usual in 61-90, and a growing number in the worrisome 90+. How did all those billings get so far along?

For entrepreneurs or AR Managers, it’s a frustrating and never-ending preoccupation.

When those accounts start to go south, it gets expensive. It can become hard to pay your own bills, which harms your brand reputation. It can even put your business in danger.

Read More

Topics: Collection agencies, Debt Collection

The Dumbest Advice I’ve Ever Heard About Debt

Posted by Brian Summerfelt on Jan 25, 2017 10:37:36 AM

There are a lot of misconceptions about debt and accounts receivable management. It seems everyone is an expert, and has advice to share. 

But despite the best intentions, much of that layperson advice is either off-base, misguided, or altogether wrong. Here are the five worst pieces of debt-related advice I’ve heard over the years.

Read More

Topics: Debt Collection

3 Powerhouse New Years Resolutions to Make 2018 Your Best Business Year Ever

Posted by Brian Summerfelt on Dec 29, 2016 10:23:24 AM

Enough talk about going to the gym three times a week or sacrificing your love of wine. 

There’s nothing wrong with that kind of goals – except they’re uninventive and rarely successful. But with the Canadian economy outperforming all the other G7 nations and the prospect of great times on the horizon, there is so much more you can actually achieve, and put your business in the best possible position for 2018 and beyond!

Here are 3 New Year’s Resolutions you can stick with, and that will make a real difference to your business success:

Read More

Topics: Debt Collection, Business Strategy

Beat the Christmas Collection Crunch

Posted by Brian Summerfelt on Dec 13, 2016 12:27:00 PM

Ho, Ho, No!

If you’re a small business owner (with the possible exception of retailers) or an AR Manager, you know EXACTLY what I’m talking about. December can be the most distressful time of the year. 
Read More

Topics: Debt Collection

Why Some People Don’t Pay Their Bills (According to Donald Trump)

Posted by Brian Summerfelt on Dec 5, 2016 9:54:48 AM

During the U.S. election campaign, you may have been surprised to learn that president-elect Donald Trump’s companies have often failed to pay their suppliers – even when the money was legitimately owed and proper contracts were in place.

What’s worse, Trump feels completely justified in holding out.

And if you’ve been in business any length of time, you know this attitude is not unique to The Donald. Sometimes your hard-earned money doesn’t come in as agreed, or not at all. Here are four reasons why Donald Trump, and possibly some of your own customers, avoid paying their business debt.

Read More

Topics: Debt Collection, Business Strategy

Subscribe to Email Updates

How Collectible is your Debt image

Recent Posts

Most Popular