Welcome to AMA Firm's Blog - Your Source of Latest News in Commercial Collections Industry

On-Site Investigations and Debt Collection

On-site investigation and debt collection is one of the many tools we use here at Alexander, Miller & Associates to help secure outstanding accounts and achieve results for our clients. With years of experience in commercial debt recovery, we’ve learned that on-site commercial debt collection and investigation is one of the best ways to secure unpaid accounts and information from difficult to reach debtors.

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Collections and Covid-19

As a debt collection agency or a company staring down more than a few months of uncertain accounts, people have a lot of questions concerning how business continues with everything at present. 

The most common question, however, is a very general “what do I do now?” Businesses are worried about accounts going unpaid, employees furloughed or laid off, how can we seek out payment now and should we?

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Commercial Collections in Atlanta, GA

What is Commercial Collections?

Commercial collections, also called B2B debt collection, refers to the collection of delinquent accounts from businesses. Unlike consumer debt collection, in which businesses attempt to collect money from individuals for debts, commercial debt collection is limited to debts owed by companies to other companies. Commercial debt collections firms specialize in helping businesses to collect money owed to them by other businesses in order to reduce bad debt and improve revenue.

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Commercial Collections Software Review

Unfortunately, businesses don’t always pay their bills on time. If your company is struggling to manage and collect on past due commercial accounts, commercial collections technology might be able to come to your rescue. There are many commercial collections software solutions on the market that might be able to help you clear more of those old invoices. But which commercial collections software is the right choice for your business?

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Collections Across Borders

When it comes to collecting debts from a business in another state or country, it’s important to be aware of the laws in both your own location and the location of the business in question. While it’s always a good idea to understand your potential client’s regional situation, when it comes to debt collection you’ll want to be extra careful. Doing business with partners in other parts of the world isn’t a bad thing, of course, but it can complicate your collections process if you don’t do your research beforehand.

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Tech in the Collections Industry

The debt collection industry functions much differently than it used to. A lot of this has to do with the introduction of automation and self-service technology. Over the course of just a few years, these advancements have made it possible to reduce the amount of time spent on the tasks that were once monotonous and labor-intensive. In some cases, those tasks are able to be eliminated altogether all while improving the likelihood of receiving the payment that you’re owed. 

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Is Your Internal Collection Process Not Working For You?

If you are in the service business and are often in the situation of having outstanding receivables there may be struggles getting your money back from time to time. Sometimes, the money you lent to a borrower is returned later than expected, creating a negative cash flow which can be a stressful situation. When other businesses owe you money, your team should have a clear and defined process to follow for reaching out and trying to collect. But if they have to wait days for a response, and sometimes wait all that time without getting a response, the time can stack up to work against you.

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