The Upward Trajectory of Debt in the U.S. – What do Debt Collection Statistics say
While many of us are going into 2024 with high hopes for more mobility and exploring new avenues, millions of Americans are inching toward debt faster than ever. This sounds an alarm bell for consumers and how they manage their financial game plans, without anticipating debt recovery when they rack up credit.
How Municipalities Can Foster Positivity through First Party Collections
Collecting debts from various businesses can be a long and strenuous process that can hinder the proper functionality of any government department when most of its success and smooth running depend on adequate cash flow and revenue generation.
The Difference Between Consumer Debt and Commercial Debt
Debt management is an important responsibility of a business. There are different types of debts that businesses deal with. Debt collection for B2B (business-to-business) companies also known as commercial debt is different from the debt collection of B2C (business-to-consumer) companies i.e., consumer debt.
How Debt Collection Impacts Your Credit Score
It has been a recent concern for Americans to handle their increasing debt and the implications that come with it. With every passing year debt is becoming a more pressing issue for the average American, rising to about $11.67 trillion approximately per household across the U.S.
Tech-Powered Collections: How Technology is Transforming the Industry
In an era where technology is transforming industries left and right, it’s time for the debt collection sector to catch up. This article discusses how cutting-edge technologies revolutionize debt collection, promising a smoother, more effective process for creditors and debtors.
How to Maximize Recovery Potential in Commercial Collections
Most businesses need help recovering unpaid invoices from services and goods rendered to other companies that land them in a situation of low cash flow. The lack of funds and revenue creates issues with low cash flow that can hinder business growth and prevent new projects from getting piloted.