The Collection Advisor

10 Warning Signs that Predict a Bad Debt, and How to Protect Yourself

Posted by Brian Summerfelt on Jan 13, 2020 3:21:22 PM

“Why didn’t I see this coming?”

Sadly, those are common words in the debt collection agency world. All too often, when a debt goes bad, the credit grantor has overlooked one or more clear warning signs. 

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Topics: Debt Collection, Business Strategy

4 Smart Ways to Holiday-Proof Your B2B Receivables

Posted by Brian Summerfelt on Dec 8, 2019 8:27:42 PM

It might be the season to be jolly for retailers and restauranteurs, but Christmas and the Holidays are a major challenge for many other businesses, especially in the B2B world.

For the rest of us, it’s essential to be prepared — not only for the head-spinning holiday productivity drain, but also for its frigid and desolate aftermath.

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Topics: Commercial Collection Agency, Debt Collection, B2B Collection Agency

8 Nightmarish Truths About Business Debt

Posted by Brian Summerfelt on Oct 24, 2019 12:23:20 PM

Just when you thought it was safe to deliver without payment in full...

Many things that happen in business are scarier than fiction. Entrepreneurship is a risky, stressful undertaking, and numerous dangers lurk in the dark, murky places between fulfilling a sale and getting paid.

In the spirit of the Halloween season, here are 8 truly terrifying facts about business debt, and how to ensure you keep your head about you:

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Topics: Collection agencies, Debt Collection

Introducing MetCredit USA

Posted by Brian Summerfelt on Oct 8, 2019 8:35:31 AM

Partners and clients have been asking for years when MetCredit would be expanding to the United States. Well, the time is now.

Introducing MetCredit USA.

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Topics: Collection agencies, Debt Collection

When the Account is Dead: 5 Sure Signs

Posted by Brian Summerfelt on Jul 22, 2019 1:33:57 PM

As professional debt collectors, we’re pre-programmed with a deeply engrained “Never Say Die” philosophy. Tenacity and optimism are defining characteristics of successful agents.

But there comes a point when you’re trying to squeeze blood from a stone: when the debtor account is beyond recovery and no amount of skill, effort or good looks is going to bring it back. When the account has flatlined.

Here are 5 unmistakable signs that an account has crossed into no-man's land:

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Topics: Collection agencies, Debt Collection, Reputation Management

3 High-Impact Actions to Take Charge of Accounts Receivable in 2019

Posted by Brian Summerfelt on Dec 28, 2018 11:18:10 AM

A new year presents an opportunity for entrepreneurs to make a fresh start.

For many, the year that has passed was a challenging, difficult or even devastating one. We live in tumultuous times, and very few business owners have weathered the last 12 months unscathed by trade negotiations and tariffs, pipeline cancellations, service disruptions, global unrest and the overall economic slowdown. With 2019 being an election year in Canada, further uncertainty lies ahead.

Most of that, you I cannot control. But you can make decisions and take actions that will have a positive impact on your business and your overall success. I would argue that given all the events  and happenings outside your hands, it’s an excellent time to focus on the things you can indeed change.

Here are three high-impact actions to place high on your list of 2019 resolutions:

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Topics: Insider Debt Collection Tips, Debt Collection, Gestion de la réputation, B2B Collection Agency

4 Spooky Business Stories to Keep Entrepreneurs Awake At Night

Posted by Brian Summerfelt on Oct 23, 2018 10:31:48 AM

It’s the time of year again for artery-clogging pumpkin pie, toddlers in plasticky Costco costumes and debilitating coloured contact lenses. Yes, Halloween: that scariest of all seasons. 

For business owners, the likes of horror films, axe-wielding fiends and things that go thump in the night are child’s play. Know what is truly frightening?

Real-life business, that’s what! 

Dredged freshly from the MetCredit morgue, here are four of the scariest horror stories you’re likely to ever hear, made concise for sleep-deprived business readers:
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Topics: Collection agencies, Debt Collection

8 Questions to Ask Before Hiring a Debt Collection Agency

Posted by Brian Summerfelt on Feb 20, 2018 9:16:12 PM

I’m a huge proponent of research: when I buy a vehicle, when I hire a new employee, implement a new business system or make any important personal or work-related decision, due diligence comes first. Good chance you have a similar philosophy (hey, you’re reading a blog post about vendor screening)!

But what about when you need to hire a debt collection agency? At some point your business will probably come across a client who won’t pay your bill despite continued, even exasperating efforts. Rather than write off the debt, you should be hiring a collection agency to bring it in. (In fact, you should have a collection agency ready to take on any overdue debt, but more on that later...)

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Topics: Commercial Collection Agency, Debt Collection, Reputation Management

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.

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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.)

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Topics: Collection agencies, Debt Collection

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