What are the Effects of Debt on a Business?

Are you familiar with your business’s credit score?

One of the big differences between a personal credit score and a business credit score is that anyone can access your business credit score. Debt appears on your business credit report, and depending on the situation, it can stay there for upwards of ten years. Other companies may want to access your business credit report, especially ones that are considering working with your business. If they see a history of debt, it could cost your company a contract.

Of course, banks can also see your business credit report, and having debt will make banks and other lenders less likely to work with your business.

Bottom line is that debt drops your business credit score, and a low business credit score indicates to lenders and other companies that your business might not be safe to work with. This directly affects the prosperity of your business.

Handle B2B Debt with a Commercial Collection Agency

RSD is a commercial collection agency that’s been helping businesses like yours kindly collect debt for over 48 years. If you are struggling with B2B nonpayment or payment disputes, give us a call at (248) 370-8160 or fill out a claim form here.

How Does a Company Go into Debt?

Do you know how debt can affect your business?

Just like your personal credit card, your business’s credit card has a credit score. This credit score is hugely important to the success of your business. Also just like your personal credit score, debt will drastically lower your business’s credit score.

There are many ways a company can go into debt, but the two major ways are 1) not paying credit charges on time, and 2) maxing out the company credit card. Synovus.com says that “credit bureaus favor businesses that keep their utilization ration under 30%, so avoid charging more than that percentage of your card’s credit limit.” Even if you can’t stay under 30%, the important thing is not maxing out your limit.

Reach Out to a Commercial Collection Agency

RSD is a commercial collection agency that’s been helping businesses like yours kindly collect debt for over 48 years. If you are struggling with B2B nonpayment or payment disputes, give us a call at (248) 370-8160 or fill out a claim form here.

Why Use RSD as Your Commercial Collector?

There are only 26 CLLA certified agencies worldwide, and RSD is one of them! CLLA certified agencies must pass a rigorous examination to ensure they adhere to regulations, collection laws, and customer service. 

According to the CLLA, certified agencies provide:

• Maximum dollar recovery
• Prompt collection of debt
• Agency stability
• Reputable collection practices
• Separate trust accounts
• Adherence to rigorous Code of Ethics
• Mandatory Surety Bond protection

Learn which locations RSD can service on our website!

National and International Commercial Debt Collection

Is your debtor located outside the country?

RSD is a member of the International Association of Commercial Collection (IACC) and through this network of international collection experts, RSD can help you manage the commercial debt collection process in virtually any country in which you do business.

Contact RSD today to begin collecting!

Not Just Michigan Commercial Debt Collection!

Do you need help collecting what you’re owed?

Are you and your debtor located in different states?

Ross, Stuart & Dawson is located in Michigan, but can handle collections in every state!

We proudly serve cities like:

• Chicago
• Milwaukee
• Cleveland
• Indianapolis
• Lexington
• Louisville
• Pittsburgh
• Columbus
• Nashville
• And more!

Learn more about RSD’s services on our website.

National and International Commercial Debt Collection

Is your debtor located outside the country?

RSD is a member of the International Association of Commercial Collection (IACC) and through this network of international collection experts, RSD can help you manage the commercial debt collection process in virtually any country in which you do business.

Contact RSD today to begin collecting!

The Future of Commercial Debt Collection

Do you wish debt collection was easier?

How can new technology be applied to commercial debt collection?

Let’s explore some of the exciting developments that are reshaping the industry.

Personalization and a Customer-Centric Approach 

In the future, successful debt collection agencies will adopt a customer-centric approach, recognizing the importance of maintaining positive relationships with debtors. Rather than employing aggressive tactics, the emphasis will be on empathy, education and collaboration. Debtors will benefit from personalized repayment plans, financial counseling and proactive communication. By nurturing relationships and building trust, agencies and law firms can increase the likelihood of recovering debts while preserving their reputation.

Learn more technological advancements in debt collection on our website!

Commercial Debt Collection with RSD

At Ross, Stuart & Dawson, we’ve been in the commercial debt collection business since 1975. We’ve undergone many technological revolutions and have embraced them. That’s why we continue to adapt to changing technology and give you the best experience possible.

File a paperless claim on our website, log into our online portal to view your claim’s progress in real time, or pay with our online payment portal. RSD makes debt collection easy! Call us today at 888-701-8181 or contact us to get started.

How will Automation and Artificial Intelligence Affect Debt Collection?

Traditionally, B2B debt collection has been a labor-intensive and time-consuming process, often flawed by inefficiencies and compliance challenges. With the rapid advancement of technology and the emergence of new tools and strategies, the future of commercial debt collection looks promising. 

Tomorrow’s high-tech agency will utilize Robotic Process Automation (RPA) to tackle the repetitive stuff, like sending payment reminders, firing off collection letters and handling payments. AI-powered chatbots and virtual assistants can deal with client inquiries, freeing up the remaining human agents to handle trickier, more complex cases that require a higher level of negotiations to strike deals. Smart machine learning algorithms can even study patterns in customer behavior and provide insights for super-targeted collections strategies.

Learn how other technological advancements can impact commercial collections.

Commercial Debt Collection with RSD

At Ross, Stuart & Dawson, we’ve been in the commercial debt collection business since 1975. We’ve undergone many technological revolutions and have embraced them. That’s why we continue to adapt to changing technology and give you the best experience possible.

File a paperless claim on our website, log into our online portal to view your claim’s progress in real time, or pay with our online payment portal. RSD makes debt collection easy! Call us today at 888-701-8181 or contact us to get started.

Dispelling Common Debt Collector Misconceptions

Could your business benefit from partnering with a debt collector?

Are you nervous that they won’t meet your expectations?

There are many misconceptions about debt collectors. You may have heard that:

Collectors Use Unethical Tactics – Ethical collection should be the only choice for debt collectors. RSD is certified by the Commercial Law League of America (CLLA), which only certifies agencies that adhere to strict collection regulations and ethics. Only 26 collection agencies nationwide are certified by the CLLA!

Collection Agencies are Hard to Work With – Total client satisfaction is everything! You need to be busy with your business, not collecting debt. RSD will take over the process completely so you can get back to work. Filing a claim is easy, and you can upload any necessary documents quickly into RSD’s secure online portal!

The Collection Process Will Be Long – Once you file a claim, RSD will work fast to get you the money you deserve! You can see up to the minute updates on your claim in your online portal.

Learn more misconceptions about debt collectors on our website!

Commercial Debt Collection Services

Commercial debt collection with RSD is prompt, kind, and communicative!

Don’t wait any longer! The more delinquent an account becomes, the probability of collecting decreases. 

Contact RSD today to start your commercial debt collection!