The statute of limitations is the time period creditors or debt collection agencies have to file a lawsuit to recover a specific debt. The typical statute of limitations runs between three and six years, but vary by state, the type of debt, and whether the state law is applicable to the credit agreement.
Accounts Receivable Management (ARM) and debt collection professionals are always looking for solutions to outstanding debts that benefit all stakeholders. After all, lenders offer lines of credit or loans on the promise their customers will repay them, giving them a legal right to get their money. If a borrower stops paying, lenders often call on… Read More »
Before and during the holiday season is prime time for commercial collections as small businesses seek to recoup money they’re owed by customers who fail to repay their debts. And this year appears to bring more of the same, considering74% of consumers plan to spend the same or more than they did last year. In… Read More »
Businesses routinely clean up their books for year end accuracy & to ensure unpaid invoices aren’t falling through the cracks. Hiring a commercial collection agency like HF Holdings can allow your business to focus on next year’s goals while resting assured any unpaid invoices get collected. Businesses can utilize debt-collection agencies to clean up their… Read More »
Many state Governors have already rolled back pandemic-driven unemployment benefits, and more are set to follow suit as early as September 6th. With the Labor Department taking a back seat Governors’ decisions, millions of Americans will be losing a significant source of financial assistance. Though many state Governors believe that ending jobless benefits will encourage… Read More »
The amount of debt in the United States has increased significantly over the past 10 months. Individuals and businesses alike have been affected by the negative economic impact of COVID-19. Companies that rely on recurring financial agreements, this rising amount of outstanding debt can dramatically impact their business operations. Even with these pressures, however, many… Read More »
We all know just how difficult 2020 has been with COVID-19 taking over the world leaving so many unkowns. Businesses and personal relationships have been negatively affected. With unemployment increasing, people are losing money and having a hard time making ends meet. Everyone is being affected in one way or another and it is important… Read More »
School tuition has a very practical purpose. In exchange for these payments, students gain access to curriculum, course material, buildings and facilities, textbooks, teachers and much more. These funds also help cover operating costs incurred by the educational facility and when students don’t pay up, the entire institution suffers. The term “schools” also casts a… Read More »
Business relationships have been strained by the Coronavirus. Unfortunately, revenue for many companies has plummeted and long-standing agreements have been altered. This fact of life in 2020 is among the many difficult changes we’ve had to adapt to. Unfortunately, not all have been able to make a seamless transition. Companies who have dutifully continued to… Read More »
Business owners depend on timely payments and a consistent cash flow to keep their business operational and profitable. The ongoing global pandemic that continues to weaken all sectors of our economy makes financial matters all the more complicated. With major brands like Starbucks, Ross, the Gap, T.J. Maxx and AMC not paying rent on their… Read More »
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