Collection News Matters

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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5 Reasons for a Business-to-Business Accounts Receivable Management & Collections Policy

Accounts Receivable Management & Collections Policy

Collections Policy Policies and procedures can make or break a business-to-business accounts receivable management strategy. Accounts receivable and collections policies contribute to and protect your cash flow by organizing guidelines to follow when extending payment terms and credit to clients. The sooner you collect invoices, the more accurately your firm can plan for inventory and […]

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Commercial Debt Collection – 4 Risks Owners and AR Managers Need to Be Aware of

Commercial Debt Collection

Business-to-business (B2B) models, in particular, pose many unique challenges. Cash flow is the lifeblood of a business. Uncontrolled or overlooked negative cash flow can render your business unprofitable. Respectfully, four risks make commercial debt collection very different from collecting retail or consumer debt: Narrow Customer Base Commercial Debt Collection Many businesses serving other businesses have […]

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Ontario Superior Court upholds decision by Bankruptcy Trustee to exclude Creditor’s Claim for debt that was over Two Years Old

Rich and Bankrupt

On May 19 2021 the Honourable Sean F. Dolphy, Judge of the Ontario Superior Court of Justice upheld an earlier decision by a Registrar of the Superior Court of Justice in Bankruptcy that a debt that is statute-barred by Ontario’s Limitations Act, 2002 (meaning that the two year time limit for a creditor to sue a debtor for an outstanding account expired) cannot be proven, or claimed, by a creditor against a debtor in bankruptcy either because the collection of debt can no longer be enforced through a legal proceeding.

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