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 […]Continue
Collection News Matters
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 […]Continue
Ontario Superior Court upholds decision by Bankruptcy Trustee to exclude Creditor’s Claim for debt that was over Two Years Old
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.Continue
On January 1st 2020, the Small Claims Limit in Ontario increased from $25,000 to $35,000.
Creditors can now sue larger outstanding debts in the Ontario Small Claims system which could mean a quicker collection result.
No matter how much you are owed though the debt collection questions remain – is it worth suing? And, will a judgment enable you to collect? These are questions a professional collection agency can often answer before a creditor spends time and money on a court process.Continue
CGI Credit Guard never uses an automated calling system (auto-dialers) or makes robo-calls – ever.
Using auto-dialers and robo-calling in the collection process may work on occasion, but can also create more problems than solutions.Continue