Collection News Matters

8 Debt Collection Tips to Get Paid Sooner

8 Debt Collection Tips to Get Paid Sooner

8 Debt Collection Tips to Get Paid Sooner It can be difficult asking a customer to pay their overdue invoice. Unfortunately, collecting outstanding invoices is inevitable for any business that grants credit. However, it should never be a significant activity. By following these 8 tips, I hope your business can get customers to pay their […]

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How Inflation is Clobbering Your Accounts Receivable

How Inflation is Clobbering Your Accounts Receivable

How Inflation is Clobbering Your Accounts Receivable Canada’s annual inflation accelerated to 7.7% in May of 2022, a 39-year high and above market expectations of 7.4% (Statistics Canada). The central upward pressure came from transportation, food, and shelter as Western sanctions in response to Russian attacks on Ukraine continued to lift energy and commodities prices.  Transportation costs […]

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When to Hire a Collection Agency?

When to Hire a Collection Agency?

When to Hire a Collection Agency? If you are a business owner, there may come a time when your customers don’t pay on time, or worse yet, don’t pay at all. You may want to ignore it if it only happens a couple of times, but what happens when it continues? Perhaps you attempt calling […]

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Five Traits That Make an Excellent Collection Agent

Five Traits That Make an Excellent Collection Agent

Five Traits That Make an Excellent Collection Agent Ever wonder what makes a great collection team? At CGI Credit Guard, we look for talent that demonstrates the following five character traits: 1.) Communication: Communication is essential to a collection agent’s success. When an agent can effectively listen and communicate the debt collection message to a debtor, they […]

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What Is Skip Tracing?

Debt Collection Strategy: What Is Skip Tracing?

Debt Collection Strategy: What Is Skip Tracing? When a customer fails to pay for goods or services, the first step is to contact them about the missed payment. But what do you do when that customer does a disappearing act? Most collection agencies like CGI Credit Guard have several debt collection strategies to recover debt more efficiently […]

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