Debt Collection Articles

When Your Account Receivables Get Misplaced: How Unpaid Accounts Put Your Business Financial Health at Risk

When it comes to business, invoices are the lifeblood of cash flow. An invoice is a bill for services or goods rendered, and it's critical that you receive payment for the products or services you've provided.

But what do you do when an invoice goes unpaid? Unfortunately, this is a common occurrence, and it can put your business's financial health at risk. In this post, we're going to take a closer look at the dangers of unpaid accounts receivable.

So read on, and learn everything you need to know about the risks of mismanaged invoices.

What Are the Risks of Waiting Too Long to Hire a Business Debt Collection Agency?

You might be tempted to put off hiring a business debt collection agency until your customers eventually pay their invoices. However, doing so can have serious consequences for your business' financial health.

Here are five reasons why you should hire a debt collector sooner rather than later:

1) Unpaid accounts can put account receivables on someone else's bank account.

2) Collection agencies recommended to be hired 90 days after invoice due date.

3) Debt collectors can sue when 180 days delinquent.

4) Penalties and interest can add up quickly on delinquent accounts.

5) Negative credit ratings can impact your ability to borrow money in the future.

By waiting to hire a debt collector, you risk subjecting your business to unpaid account receivables, continued non-payment, a negative credit rating, and an inability to borrow money in the future. It is not only important to have customers pay their invoices promptly, but to also take proactive measures to ensure your business collects what it is owed. Hiring a professional collection agency can help you recover the money your business is owed in a timely manner.

Professional collection agencies adhere to laws and regulations for fair debt collection practices, but it is important to ensure that you are working with a reputable agency. It is also important to work closely with the agency to ensure that you are not just turning over the accounts and hoping for the best. With a good plan in place, a professional agency can help you recover what is owed in a timely manner.

What Are the Reasons Why a Business Might Be Slow Paying or Not Paying Their Invoices?

It's the age-old question that small business owners have been asking for centuries: why won't customers pay their invoices on time?

There can be a variety of reasons why a business might be slow to pay or not to pay its invoices. Maybe the customer is facing financial difficulties and doesn't have the money to pay their bill. Maybe the customer ordered a lot of product but didn't plan on how they were going to pay for it, and now they're trying to delay payments as long as possible. Or maybe the invoice got misplaced and is stuck in Accounts Receivable limbo.

No matter what the reason is, it's important for business owners to be aware of the dangers of unpaid invoices and take action before it's too late.

Not only can unpaid invoices put a strain on your cash flow, it can also affect your bottom line. With each additional day that passes, you are losing out on the money that you are owed. You can also be put in the position of having to chase after customers for the money, which can be time-consuming and emotionally draining.

Furthermore, you may find that you are taking out extra loans or lines of credit to make up for the money you're missing. This can be a costly mistake, as it can lead to long-term debt that you may not be able to pay off. In some cases, you may even end up going out of business due to unpaid invoices.

Therefore, it's important to stay vigilant when it comes to your accounts receivables. Keep track of the invoices that are due and follow up with customers to ensure that they are paid on time. If necessary, consider using collection agencies to ensure that all invoices are paid in a timely manner. With the right approach and a little bit of diligence, you can make sure that your accounts receivable stay on track and your business stays financially healthy.

What Strategies Can Help Businesses Get Paid Faster?

You're a small business owner who's been doing great lately. In fact, things have been going so well that you decided to take on a new client. This new client is a big fish – they're international, they've been in business for years, and they have a great reputation.

But as you soon find out, this new client isn't so great after all. In fact, they're downright terrible at paying their invoices on time. And even though you've been trying to be understanding, the delays are starting to impact your business's bottom line. So what can you do?

There are a few strategies that can help businesses get paid faster: offer early payment discounts, use business credit cards, and provide unambiguous payment terms.

Offering an early payment discount is a great way to incentivize customers to pay faster. This could mean offering an early payment discount of 3-5% or offering a reduced finance charge for paying an invoice within 10 days of the due date. This strategy not only helps you get paid faster, but it can help build relationships with customers.

Using business credit cards can help you save time and money. Not only do they allow you to track and manage your account receivables more effectively, but they also provide cash advances and rewards that can help you manage your cash flow. Plus, having access to business credit cards can help you withstand the financial hardship that comes with unpaid accounts.

You should also provide clients with unambiguous payment terms. Being clear about when invoices are due and outlining late payment fees and penalties can help make it easier for clients to understand their payment obligations. Plus, clients who know the repercussions for not paying their bills on time will be more likely to pay them faster. Additionally, setting up automated email or SMS reminders to send out invoices and payment notifications can help ensure business payments are made on time.

How a Debt Collection Agency Can Assist in Collecting an Unpaid Account Receivable?

Have you ever tried to kick an unpaid account's butt, only to find that it was too slippery for you? Yeah, we've all been there. That's when it's time to call a professional debt collection agency.

An experienced debt collection agency can assist in ensuring that your accounts receivable are collected in a timely manner by offering early payment discounts, negotiating and enforcing payment plans, and pursuing legal action if needed.

Intercol is one such agency providing debt collection services for over 25 years! They specialize in the recovery of international accounts receivable and can help you with unpaid accounts – even ones that seem impossible to locate. So don't wait until it's too late – Intercol can help put your financial health back on track!

Once an unpaid account is assigned to an agency such as Intercol, the debt collection process begins. The agency will use a variety of tactics to attempt to recover the debt. For example, they may research the debtor's financial background and review credit reports in an effort to locate and contact the debtor.

In addition to research and contact, a debt collection agency may also attempt to collect the debt through legal means such as wage garnishment, bank account levies, or other court-ordered action. When these strategies are necessary in order to collect an unpaid debt, the debt collection agency plays a critical role in the process.

Intercol also offers their clients other services such as skip tracing and asset location. This service helps track down debtors that have skipped town or relocated and can provide invaluable insights into the whereabouts of those who are missing. This way, you can track your debtor down and get your account receivable back on track.

With the help of an experienced debt collection agency such as Intercol, you can rest assured that your financial health will be back on track in no time. They provide a wide range of services from skip tracing, to legal action if needed, to ensure your accounts receivable are collected in a timely manner.

Benefits of Outsourcing a Debt Collection Agency

You might think trying to collect debt on your own is a good idea. After all, the more money you can keep in-house the better, right? Wrong! Hiring a debt collection agency like Intercol can help you and your bottom line. We know how to get the most out of overdue and unpaid accounts in a fraction of the time it would take you to do it yourself.

Here are some benefits of outsourcing a debt collection agency: better collection costs, faster invoice collection, improved payment collection rates and more strategic approaches when negotiating with customers. With Intercol on your side, you'll never have to worry about your account receivables getting misplaced...or forgotten.

Another benefit of outsourcing your debt collection process is that all fees are visible upfront, so you know exactly what you will be paying. You don't have to worry about hidden costs or fees that can start adding up. This lets you budget more accurately and can help you save thousands of dollars in the long run.

Our team of debt collection professionals is also trained and experienced in the best practices of ethical debt collection. We understand the importance of preserving customer relationships and aren't in the business of intimidating or alienating customers. We know how to be persuasive, yet respectful and this helps our clients maintain customer relationships even after accounts have gone into collection.

Finally, outsourcing your debt collection process can free up more of your time to work on other aspects of your business. Intercol will take over the tedious and time-consuming task of chasing after payments and freeing up more of your time for other tasks. So, if your account receivables get misplaced, you can always rely on Intercol to help you get them back on track.

What to Look for When Hiring a Debt Collection Agency

So, you've reached a point where you need to take action against the delinquent accounts. But how do you know that the debt collection agency is a good fit for your business?

For starters, you want to make sure that the agency is highly knowledgeable and experienced in debt collection. Having spent years in the business, Intercol has mastered international debt recovery services from all corners of the globe. It's also important to check whether they have a wide range of collection methods and legal resources available.

Next up, you should confirm that the agency belongs to a professional association like ACA International or other reputable trade organizations such as CSA or ICSA. These organizations serve as assurance that their members are held accountable to a code of ethics and high standards of service. Furthermore, many agencies offer no-win-no-fee debt collection options so it's worth exploring this possibility as well.

The bottom line? When it comes to hiring a debt collection agency - always do your due diligence!


At Intercol, we understand that things happen. Customers go bankrupt, businesses fold, and all sorts of other calamities befall the payments process. But that doesn't mean you should wait until the eleventh hour to call in the professionals. Delaying debt collection can have some pretty dire consequences for your business's financial health, as we explore in this post.

So if your account receivables have gone missing, don't wait to call in the cavalry. Intercol can help you get your finances back on track and keep your business afloat.

Our debt collection services allow you to focus on what matters most: growing your business. We work with your existing A/R practices to minimize risk and maximize the likelihood of collecting on overdue invoices. We employ a combination of traditional debt collection techniques and cutting-edge technologies to identify and contact your customers and get results.

We also have an in-house team of professionals who are always available to answer any questions you might have. We understand that when your account receivables disappear, it can be a stressful experience. That's why we're here to help you with the collection process and ensure that your business remains financially healthy.

When your account receivables are misplaced, don't hesitate to contact Intercol. We understand the financial stress of unpaid accounts and we are ready to use our experience and knowledge to help you reach a favorable outcome. We will work with you to devise a tailored debt collection strategy that fits your specific needs, so you can rest assured that our services will be effective and efficient. Plus, we provide free consultation and guidance, for an even better experience.

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Place Your File For Debt Collection
When it comes to business, invoices are the lifeblood of cash flow. An invoice is a bill for services or goods rendered, and it's critical that you receive payment for the products or services you've provided.But what do you do when an invoice goes unpaid? Unfortunately, this is a common occurrence, and it can put your business's financial health at risk. In this post, we're going to take a closer look at the dangers of unpaid accounts receivable.So read on, and learn everything you need to know about the risks of mismanaged invoices.

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