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Law firms and collection agencies encourage their clients to turn over collections accounts as quickly as possible. And for good reason: Obviously, the older a claim becomes the less collectable it becomes. Accounts that are 90 days old are more collectable than accounts that are six months old.

So, in the process of collection, don’t sit on those receivables, but turn them over to your law firm sooner rather than later. And here are seven reasons why:

1. Slippery debtors. Businesses, bank accounts, people, jobs, etc. can change quickly -- and without notice.
2. Lost evidence. As time passes, you may discover data, documents, witnesses, employees, transaction details, and other things fading or disappearing.
3. Statutes of limitations. Your claim may become noncollectable sooner than you thought.
4. Bankruptcy. It doesn’t take much for a debtor to discharge your claim via bankruptcy.
5. Unexpected events. A surprise can derail a claim, preventing you from collecting.
6. Shorter collection times. Know which industries require them.
7. Other creditors. Move too slowly and you may lose out to more aggressive creditors.

Do you have other good reasons? Please share them with me at Thanks.

Thomas W. Hamilton

 Industry News

What's terrible about the TCPA? Almost everything
Corporate Counsel
There are laws worse than the Telephone Consumer Privacy Act. Yet, if you are a U.S. business, you will be hard pressed to identify one with more irrational remedies for worthy objectives.
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Overcoming unexpected occurrences in the courtroom
The Legal Intelligencer
The courtroom is a foreign place for most individuals outside of the legal profession. In fact, most nonlawyers do everything in their power to avoid any interaction with the judiciary whatsoever, from jury duty to even more unpleasant court-mandated appearances.
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Collection law...a little knowlege goes a long way
By Steve Harms
Often times a collector is on the phone trying to convince a delinquent debtor to pay up for goods which were sold and delivered, but not paid for. The debtor often uses a tactic of trying to throw the collector off track by claiming a "legal defense" to the claim.
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  Fully Integrated Billing & Payments

Accept all payment types through your accounts receivable software. Our customers know the power of integration. Saving you time and money is how we judge success.
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Commercial debt collection placements increase in Q3, but still down in 2013
By Annette Waggoner
Annette Waggoner, executive director of the Commercial Collection Agency Association of the Commercial Law League of America, reports that in the third quarter 2013, the number of commercial accounts placed with CCAA members increased by 14.49 percent when compared to the second quarter 2013.
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CFPB questions corporate 'payroll' cards
Corporate Counsel
Mastercard Inc. heeds the Consumer Financial Protection Bureau's warning to install consumer protection measures for workers using "payroll" cards to receive wages.
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Worrisome spike in student loan write-offs
American Banker
The dramatic rise in student loan volume is a worrisome trend for policymakers. The surge in write-offs comes as more banks shut down their student loans operations.
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