Set Your Business Up for Financial Success!

Is your business prepared for potential payment disputes?

Here are three tips to help set your business up for financial success and prepare it for B2B debt collection.

Establish Clear Terms

One of the most effective ways to mitigate potential issues with debt collection is to establish clear and concise payment terms from the beginning. Clearly outline expectations regarding payment due dates, acceptable payment methods, late fees, and consequences for non-payment in your contracts. By setting expectations upfront, you minimize misunderstandings and provide a solid foundation for effective debt management.

Maintain Detailed Records

Accurate record-keeping is vital when it comes to debt collection. Keep thorough documentation of all transactions, invoices, payment receipts, and correspondence with clients. Maintaining organized records not only facilitates smoother debt collection processes, but also serves as valuable evidence in case of disputes or legal proceedings.

Implement a Systematic Invoicing Process

Consistent invoicing is essential for prompt payment collection. Establish a systematic invoicing process that sends out invoices promptly upon completion of services or delivery of products. Clearly itemize the charges and payment due dates on each invoice and follow up promptly on overdue payments. Utilizing accounting software or invoicing platforms can streamline this process and help you stay on top of outstanding payments.

Need Help with B2B Debt Collection in Michigan?

Our Michigan debt collection agency is dedicated to helping your business collect money owed with efficiency and empathy. If you’re ready to start collecting, or even if you just need a few questions answered, call (248) 370-8160 or submit a contact form here.

B2B Debt Collection: Tips for New Business Owners

Are you a new business owner?

For many entrepreneurs, starting a business is an exhilarating journey. However, while launching a new venture can be exciting, there can also be challenges, like debt collection. Here are a few tips to get you started:

Communicate Effectively

Open communication is the key to resolving payment issues. If a client falls behind on payments, reach out promptly to remind them of their outstanding balance and inquire about the reason for the delay. Be polite, but firm, and offer flexibility where appropriate. Often, a simple reminder is all it takes to prompt payment and maintain a positive business relationship.

Enforce Policies Consistently

Consistency is paramount when enforcing payment policies. Establish a clear protocol for handling delinquent accounts, including the escalation process for overdue payments. Whether it involves sending reminder notices, imposing late fees, or pursuing legal action as a last resort, ensure that your debt collection policies are applied uniformly to all clients or customers. This demonstrates professionalism and reinforces the importance of timely payments.

Preserve Relationships Whenever Possible

While debt collection is primarily focused on recovering overdue payments, it's essential to approach the process with tact and empathy, especially when dealing with long-standing clients or valued customers. Strive to preserve business relationships whenever possible, even amid payment disputes. 

Need Help with B2B Debt Collection in Michigan?

Our Michigan debt collection agency is dedicated to helping your business collect money owed with efficiency and empathy. If you’re ready to start collecting, or even if you just need a few questions answered, call (248) 370-8160 or submit a contact form here.

Need Help with Legal Debt Collection?

Dreading the idea of going directly to a law firm for collections help?

This excerpt was prepared by Thomas W. Hamilton, Executive Vice President and General Manager of the American Lawyers Quarterly, Cleveland, Ohio.  Copyright © 2009.  All rights reserved.

The volume provided by RSD makes collections profitable for these law firms, and thus they commit resources to their collection practices, including superior technology, personnel, a dedicated legal collections staff, and prioritized partner time.  When a law firm processes a volume of collections files over an extended period of time, they are committed to this practice, and they establish a reputation with local debtors.  This reputation can eliminate a lot of “stall tactics” and increase the probability of settling your cases without protracted litigation.

Firms that process a large volume of collection matters may develop specializations within the field, so that they have particular expertise in handling claims involving the Miller Act, the insurance industry, subrogation, transportation, or health care.

RSD has personnel that deal only with legal collections.  Their legal department handles thousands of files each year.  They develop professional relationships with the attorneys they use, and sometimes personal relationships as well.  They are active in associations that provide them with continuing education on the ever-changing laws that deal with collections and bankruptcy.  Many of these organizations also afford them the opportunity to network with receiving attorneys.

Why not make use of the advantages afforded by the use of RSD and its network of law firms to collect your legal accounts receivables?

Contact RSD for Help with Legal and Commercial Debt Collection

Whether you need help with legal debt collection or commercial debt collection, RSD is here to help you get the money you’re owed. If you’re ready to start collecting, or even if you just need a few questions answered, call (248) 370-8160 or submit a contact form here.

RSD Can Help with Legal Collections!

Wondering if a commercial collection agency can help with legal collections?

This excerpt was prepared by Thomas W. Hamilton, Executive Vice President and General Manager of the American Lawyers Quarterly, Cleveland, Ohio.  Copyright © 2009.  All rights reserved.

RSD has a unique ability to service legal collections, because of their expertise in this field, the volume of legal matters they handle, and the resources they have available.

A member of RSD obtains legal services through the use of a law list.  These lists provide a network of law firms who are educated and experienced in handling collection matters and provide their services on a contingency fee basis.  These law firms work with the agencies within a strict set of rules (Operative Guides set forth by the Commercial Law League of America) and abide by the usual and customary practices particular to the collection industry, thus assuring a high level of service.

Furthermore, the law firms are carefully screened by the list who provide bonding coverage up to $3,500,000 per law firm to the agencies on all matters forwarded through this medium.  Thus, the creditors are protected against the possibility of any loss due to fraudulent or dishonest acts.  This bonding coverage is available only to collection agencies and law firms, not direct to creditors.  Because of this bonding insurance coverage, the law lists continuously monitor and evaluate the performance of their listed law firms.  

Need Help with Legal or Commercial Debt Collection?

Whether you need help with legal debt collection or commercial debt collection, RSD is here to help you get the money you’re owed. If you’re ready to start collecting, or even if you just need a few questions answered, call (248) 370-8160 or submit a contact form here.

Is a Write-Off Necessary?

Are debtors dodging your emails and phone calls?

You may be considering writing off their debt. Here are a few situations when a write-off may be necessary:

A Debt Collector Can’t Help – When you need payment, reach out to a debt collector in Michigan first! No matter the age of the debt, RSD is willing to help! We can use skip tracing techniques to find your debtor, contact them, and help negotiate until they pay. If they still haven’t paid after our efforts, it may be time to write-off the debt.

The Debtor is Bankrupt – After a company has filed for bankruptcy, they’ll be liquidating their assets to their creditors. If they owe their creditors more than they’re worth, you may end up with nothing or waiting longer than you can afford to receive anything.  

Learn more about write-offs on our website!

Debt Collector in Michigan

Avoid write-offs with the help of a debt collector in Michigan!

Certified by the Commercial Law League of America and endorsed by the International Association of Commercial Collectors, Ross, Stuart & Dawson has the know-how to get you the money you deserve.

Contact RSD today at 888-701-8181 or fill out our contact form to get started!

When to Write-Off Debt

Are you struggling with debtors?

You may be considering writing off their debt. A write-off occurs when a business removes the charge from a non-paying customer and adds it to their liabilities.

Here are a few situations when a write-off may be necessary:

Your Debtor has Gone out of Business – As a commercial business, you likely bill your clients as their company name. Once this company doesn’t exist anymore, it can be hard to track someone down to receive payment. The chances of collecting from an out-of-business company are low.

The Debt is Too Old – In a past article, we described why the age of the debt matters. After 6 months, the recovery rate of a debt decreases to 52.1%. After 2 years, it has a 9.3% chance of being collected. If the debt is even older, you may want to consider a write-off.

Learn more situations that may require a write-off on our website!

Debt Collector in Michigan

Don’t let your debtor win! Avoid write-offs with the help of a debt collector in Michigan!

Certified by the Commercial Law League of America and endorsed by the International Association of Commercial Collectors, Ross, Stuart & Dawson has the know-how to get you the money you deserve.

Our kind, professional-approach is empathetic yet firm and manufactured for success! Contact RSD today at 888-701-8181 or fill out our contact form to get started!

Qualifications Your Collection Service Should Have

The perfect debt collection agency:

• is prepared to give the best possible effort. But the agency cannot guarantee results on any specific date, as this would be misleading.
• is equipped to work and follow all accounts diligently.
• has complete and modern facilities for tracing debtors who skip.
• will promptly notify you when it discovers a debtor who is a hardship case and will recommend the proper procedure to follow.
• exhausts all reasonable means of securing voluntary payment before recommending legal action.

Learn more about debt collector qualifications. 

Choose RSD: A Certified Debt Collector in Michigan

Don’t stress yourself out chasing after debtors!

Ross, Stuart & Dawson is a commercial debt collector in Michigan that can help you collect quickly and with kindness, keeping the relationship between you and your debtor.

RSD is considered a “certified agency” by the Commercial Law League of America (CLLA) and is endorsed by the International Association of Commercial Collectors (IACC), proving their adherence to debt collection standards and practices.

Contact RSD today to start collecting!

What Makes a Great Debt Collector?

Considering using a debt collector in Michigan?

Consider the following qualifications and credentials when choosing a collection service. Check to see whether the agency…

• is a member of a national trade association. Membership is an indication of professional integrity.
• has a good reputation in the community with merchants, local/state business associations and other credit groups.
• has complied with the state’s statutory requirements as to bond or license or both.
• charges fees that are clearly stated and seldom subject to misinterpretation. Rates and fees are usually on a contingency basis-no collection, no charge. If the collection agency requests a written contract, the agency will welcome your having it reviewed by an attorney.

Learn more qualifications of great debt collectors!

Choose RSD: A Certified Debt Collector in Michigan

Don’t stress yourself out chasing after debtors!

Ross, Stuart & Dawson is a commercial debt collector in Michigan that can help you collect quickly and with kindness, keeping the relationship between you and your debtor.

RSD is considered a “certified agency” by the Commercial Law League of America (CLLA) and is endorsed by the International Association of Commercial Collectors (IACC), proving their adherence to debt collection standards and practices.

Contact RSD today to start collecting!

Ross, Stuart & Dawson Collects Commercial Debt

Are you a landlord or property owner looking to collect?

We understand how frustrating your situation is and your eagerness to collect, but make sure you’re contacting the right people. Ross, Stuart & Dawson collects only commercial debt.

Commercial debt is debt owed by a business or commercial venture to another business. If you’re a business who has provided goods or services to another business and haven’t been paid, you have a commercial debt.

Our commercial debt collection services have helped companies in manufacturing, transportation & warehousing, wholesale trade, commercial insurance, and more!

In the case of property management, if a commercial property manager rents out office space to a business and this business doesn’t pay, this is more likely to be a commercial debt. Otherwise, your debt is most likely a consumer debt and you need to contact a consumer debt collection agency.

Learn more about the difference between commercial and consumer debt.

Your Certified Commercial Debt Collector in Michigan

If you’re in need of a commercial debt collector in Michigan, we can help!

RSD is 1 of 26 debt collectors certified by the Commercial Law League of America (CLLA) and is endorsed by the International Association of Commercial Collectors (IACC). 

To stay in the loop, you can check on the progress of your claim through RSD’s online portal and receive up to the minute updates.

Place a claim for commercial debt collection today!

Property Management Debt is Consumer Debt

Are you a landlord or property manager trying to collect?

Things have been hard for landlords since the eviction moratorium was put into effect on September 4th, 2020. This moratorium was put into place during the pandemic to stop landlords from evicting tenants who couldn’t pay rent due to lost wages. While rent payments were allowed to pile up for tenants, they weren’t forgiven, and those payments are still owed to you. The moratorium ended in August 2021, but the struggles haven’t ended. Since then, landlords have been trying to collect payments from current tenants and even those who have moved out. 

Your Debt is Likely Consumer Debt

Commercial debt is debt owed by a business or commercial venture to another business. If you’re a business who has provided goods or services to another business and haven’t been paid, you have a commercial debt.

Ross, Stuart & Dawson collects only commercial debt.

Read more about the difference between consumer and commercial debt.

Your Certified Commercial Debt Collector in Michigan

If you’re in need of a commercial debt collector in Michigan, we can help!

RSD is 1 of 28 debt collectors certified by the Commercial Law League of America (CLLA) and is endorsed by the International Association of Commercial Collectors (IACC). 

To stay in the loop, you can check on the progress of your claim through RSD’s online portal and receive up to the minute updates.

Place a claim for commercial debt collection today!

How to Protect your Cash Flow Until the Supply Chain Steadies

Are you a manufacturer?

Are your products taking longer to reach your customers?

Current supply chain issues could impact your production style and cash flow. If you use a “just-in-time” manufacturing style, you make your profit by selling, producing, and shipping your products in the shortest amount of time possible with little room for inventory. To respond to the supply chain disruptions and change in supply and demand, you might have started producing more products than necessary, leading to more inventory. This excess inventory can impact your production and is an additional cost you need to factor into your operations.

Learn more about cash flow and the supply chain.

RSD Can Help You Collect and Strengthen Your Risk Management System

Has your customer become a debtor?

If you’re having trouble being paid, a knowledgeable and professional debt collector in Michigan can help! 

Ross, Stuart & Dawson can make contact with your debtor and remind them of their promise of payment. Angry people don’t write checks, which is why RSD uses a kind approach to collection.

These supply chain hiccups are predicted to continue throughout 2022, so you may want to strengthen your credit risk management system. RSD can work with you to find gaps and weaknesses in your system and provide solutions.

Contact RSD today for debt collection in Michigan!

How is the Supply Chain Affecting Selling on Credit?

Have you been experiencing supply chain disruptions?

Are they affecting your production?

If you’re a manufacturer, you’ve likely noticed the backups in the supply chain. According to an article from Fast Company, a typical shipping container now spends 20% longer in transit than before the pandemic. From port disruptions to trucking challenges, getting your products to your customer can be difficult and can have ramifications when selling on credit.

Your customer typically doesn’t have to pay until they receive your products. Here are some situations that could affect your payment:

• If they receive the products later than expected, your cash flow could be impacted. 
• If your contracts detail a time period in which the customer will receive the products and that time period is missed, the customer could argue that it’s a breach of your contract and could stall their payment. 

Learn how the supply chain can affect cash flow.

RSD Can Help You Collect and Strengthen Your Risk Management System

Has your customer become a debtor?

If you’re having trouble being paid, a knowledgeable and professional debt collector in Michigan can help! 

Ross, Stuart & Dawson can make contact with your debtor and remind them of their promise of payment. Angry people don’t write checks, which is why RSD uses a kind approach to collection.

These supply chain hiccups are predicted to continue throughout 2022, so you may want to strengthen your credit risk management system. RSD can work with you to find gaps and weaknesses in your system and provide solutions.

Contact RSD today for debt collection in Michigan!

Insurance Industries We Serve

Are your policyholders not making payments on time?

Are you in need of a debt collector?

Our experience in insurance collection focuses the following areas:

• General Liability
• Property
• Business Interruption
• Professional Liability
• Workers' Compensation
• Data Breach or Cyber Insurance
• Commercial Auto

These areas all require unique knowledge and expertise, which our certified collection professionals have. When you hire a collection agency like Ross, Stuart & Dawson, we’ll implement a strategy that works best for your unique case. What’s most important to you is also important to us! Every one of our cases gets dedicated, personal attention, whether your claim is big or small.

Read more about commercial insurance collection on our website!

Get Paid from a Debt Collector in Michigan

As a carrier, agent, or broker, you should be spending your time doing what you do best: keeping businesses secure! Let RSD, the debt collector in Michigan, worry about your collections. Contact RSD today at (248) 370-8160 to get started.

Insurance Collections with RSD

Are you an insurance company struggling with nonpayment?

Are you looking for a debt collector in Michigan?

The professionals at Ross, Stuart & Dawson have years of experience in commercial insurance collections. We understand that insurance collections can be complicated, and we want to help settle your past due accounts. Our strategies emphasize professional and respectful debt collections, ensuring that you receive the money you’re owed in a practical manner. We specialize in settling claims with efficiency and skill and understand what needs to be done to serve our clients most effectively.

Learn more about commercial insurance debt collection.

Get Paid from a Debt Collector in Michigan

As a carrier, agent, or broker, you should be spending your time doing what you do best: keeping businesses secure! Let the experts at RSD worry about your collections. Contact RSD today at (248) 370-8160 to get started.

How to Deal with Debtors That Won’t Pay

 Do you have difficult debtors?

Are they using any reason not to pay you?

At Ross, Stuart & Dawson, we’ve seen it all. That’s why we’ve compiled some little steps you can take to make customers take you more seriously and potentially comply with your demands. One of the biggest factors is your approach. The correct approach can make the difference between getting paid and going to court.

Here’s how to deal with debtors who won’t pay:

Won’t Pay ‒ Debtors who won’t pay often create problems that they believe justify nonpayment. The problem could be real, but is usually invented by the debtor. Examples include: the products or services weren’t satisfactory, there was a breach of the contract, someone oversold them, etc. The best thing you can do is patiently listen. If their problem is actually valid, offer to fix it to their complete satisfaction if they pay in full. If it isn’t valid, politely tell them why. If they are still being difficult, offer a settlement for less than the full balance as an inducement to save money and resolve the issue without further action. If you go with a settlement, be smart when negotiating. Always start higher than the bottom line and never accept the first offer.

For more collection approaches, visit our website!

Take Advice from the Trusted Debt Collectors in Michigan

If you’ve done all of the above, and still need help, Ross, Stuart & Dawson can assist you! Certified by the Commercial Law League of America and endorsed by the International Association of Commercial Collectors, Ross, Stuart & Dawson has the know-how to get you the money you deserve.

Our kind, professional-approach is empathetic yet firm and manufactured for success! For a trusted commercial debt collector in Michigan, call RSD today at 888-701-8181 or contact us via our website to start taking care of your delinquent accounts. 

How to Approach Debtors Who Can’t Pay

 Does your debtor have poor cash flow?

Do they want to pay you, but don’t know when it’ll be possible?

At Ross, Stuart & Dawson, we’ve seen it all. That’s why we’ve compiled some tips for approaching different types of debtors. It’s important to determine what kind of debtor you have, one that can’t pay, or that won’t pay, because the approaches for them can differ.

Here’s how to approach a debtor who can’t pay:

Can’t Pay ‒ Most non-payments result from a real or imagined lack of cash flow. These debtors usually want to pay, but feel like they can’t. If this is the case, act as their problem solver. They have debt, you have solutions! You need to convey to them that you are partners and only want to help them. This will put them at ease and make them far more likely to comply. When negotiating with them, if they have poor cash flow, offer them a structured payment plan to pay off the debt. Once you both agree on the plan of action, get everything down in writing and have the debtor agree to the terms in writing.

Visit our website to see more collection tips!

Take Advice from the Trusted Debt Collectors in Michigan

If you’ve done all of the above, and still need help, Ross, Stuart & Dawson can assist you! Certified by the Commercial Law League of America and endorsed by the International Association of Commercial Collectors, Ross, Stuart & Dawson has the know-how to get you the money you deserve.

Our kind, professional-approach is empathetic yet firm and manufactured for success! For a trusted commercial debt collector in Michigan, call RSD today at 888-701-8181 or contact us via our website to start taking care of your delinquent accounts. 

Unpaid Debts Can Get in the Way of Running Your Business

A company's Accounts Receivables are usually its second, if not its first, most important asset on the balance sheet. It’s not just a number – it reflects the resources a company harnesses to manufacture, ship, and sell its products — all on a promise it will be paid at some point in the near future. An experienced debt collection agency will make the difference and get more of these promises turned into payments.

Learn how the MFDCPA governs what debt collectors can and cannot do here.

Michigan-Based Debt Collectors Can Help Your Business

When you hire a collection agency like Ross, Stuart and Dawson, we’ll implement a strategy that works best for your unique case. An analysis and investigation of the facts will help determine the options. 

Business owners should be spending time doing what they are good at, not chasing down debts. Contact our experienced debt collectors today at (248) 370-8160 to get started. Let the experts worry about your collections, so you have more time to focus on growing your business!

The Fair Debt Collection Practices Act Governs Even the Most Expert Debt Collectors

 

Here’s some of what you need to know about the Michigan Fair Debt Collection Practices Act 339.915 Licensee Sec. 915:

A licensee shall not commit 1 or more of the following acts:

1. (a) Communicating with a debtor in a misleading or deceptive manner, such as using the stationery of an attorney or the stationery of a credit bureau unless it is disclosed that it is the collection department of the credit bureau.

(b) Using forms or instruments which simulate the appearance of judicial process.

Read more of the MFDCA here!

Your Case Gets Personal Attention from Our Expert Debt Collectors 

What’s most important to you is also important to us! Every one of our cases gets dedicated, personal attention, whether your claim is big or small.

Business owners should be spending time doing what they are good at, not chasing down debts. Contact our experienced debt collectors today at (248) 370-8160 to get started. Let the experts worry about your collections, so you have more time to focus on growing your business!

Find Appropriate Documentation for Your Debts

Debt collection cases that end up in front of a judge can be resolved quickly, especially when they’ve been handled by experts. Sometimes a debtor will dispute a claim, and it’s important to be prepared. Having appropriate documentation is essential to resolving debt collection cases in your favor, whether it’s placed with a collection agency, or before or after litigation. When you hire a collection agency, be sure to gather the specific documentation proving you own the debt, how much is owed, and how much interest has accrued.

Learn about other steps you can take to improve your collection strategies here.

Michigan-Based Collection Agency Helps Businesses of All Sizes!

When you hire a collection agency like Ross, Stuart and Dawson, we’ll implement a strategy that works best for your unique case. An analysis and investigation of the facts will help determine the options. 

Business owners should be spending time doing what they are good at, not chasing down debts. Contact our experienced debt collection agency today at (248) 370-8160 to get started. Let the experts worry about your collections, so you have more time to focus on growing your business!