{"id":60,"date":"2016-12-20T20:57:05","date_gmt":"2016-12-20T20:57:05","guid":{"rendered":"https:\/\/amafirm.com\/blog\/?p=60"},"modified":"2020-03-13T16:34:24","modified_gmt":"2020-03-13T16:34:24","slug":"dont-bring-uncollected-debt-new-year","status":"publish","type":"post","link":"https:\/\/amafirm.com\/blog\/commerical-collections-news\/dont-bring-uncollected-debt-new-year\/","title":{"rendered":"The Cost of Waiting: Don&#8217;t Bring Uncollected Debt into the New Year"},"content":{"rendered":"<p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<html><body><span style=\"font-weight: 400;\">As 2016 comes to an end, many businesses are looking forward to the start of a new fiscal year. A new year brings on different obstacles and growth opportunities, but chances are you don&rsquo;t want one of those obstacles to be old uncollected debt. This is when a <\/span><a href=\"https:\/\/www.amafirm.com\/best-collections-agency.php\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">reputable debt collection agency<\/span><\/a><span style=\"font-weight: 400;\"> comes in handy. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Statistics show that after the first month of uncollected debt, the chances of recovering debt decreased to 93%. Although that may seem adequate, the numbers take a sudden nosedive; after 3 months, there is a <\/span><a href=\"https:\/\/www.facebook.com\/amafirm\/photos\/a.331728426914395.79529.331672176920020\/1120944364659460\/?type=3&amp;theater\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">73% chance of recovery<\/span><\/a><span style=\"font-weight: 400;\">, and after 6 months, there is a 50% chance you will not get paid. Needless to say, if you hit the one year mark of uncollected debt, the odds are stacked against your favor and you face a 75% chance of not receiving any payment.<\/span><\/p>\n<figure id=\"attachment_61\" aria-describedby=\"caption-attachment-61\" style=\"width: 900px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-61\" src=\"https:\/\/amafirm.com\/blog\/wp-content\/uploads\/2016\/12\/1ef960d.jpg\" alt=\"Commercial collections agency\" width=\"900\" height=\"597\" srcset=\"https:\/\/amafirm.com\/blog\/wp-content\/uploads\/2016\/12\/1ef960d.jpg 900w, https:\/\/amafirm.com\/blog\/wp-content\/uploads\/2016\/12\/1ef960d-300x199.jpg 300w, https:\/\/amafirm.com\/blog\/wp-content\/uploads\/2016\/12\/1ef960d-768x509.jpg 768w\" sizes=\"(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><figcaption id=\"caption-attachment-61\" class=\"wp-caption-text\">The longer you wait to collect debt, the less likely it is you will receive payment.<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Time truly is money when it comes to recovering payments, so you want to make sure you are addressing uncollected debt as soon as possible. However, collecting payments can be tricky. Some clients may avoid you like the plague! Others may become defensive and shut the conversation down. You also walk a fine line when dealing with long-term clients who are going through a tough time and do not have the ability to pay for rendered services; you do not want to lose a valuable client when collecting debt. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">For situations that require a delicate approach, you will be more successful in recuperating payment when partnered with an experienced <\/span><a href=\"https:\/\/www.amafirm.com\/alexander-miller-and-associates.php\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">debt collection agency<\/span><\/a><span style=\"font-weight: 400;\">. &nbsp;Through our <\/span><a href=\"https:\/\/www.amafirm.com\/commercial-collections-cap-program.php\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Customer Assistance Program<\/span><\/a><span style=\"font-weight: 400;\">, we are able to approach your invaluable clients with tactics that will retain your relationship and advance the debt collection process. &nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At Alexander Miller &amp; Associates, we have developed debt recovery strategies for different industries and our extensive experience will increase your chances of getting your money back. Our debt collection divisions include:<\/span><a href=\"http:\/\/amafirm-transportation.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\"> Freight and Transportation Commercial Debt Collection<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"http:\/\/amafirm-seafood.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Seafood and Produce Commercial Debt Collection<\/span><\/a><span style=\"font-weight: 400;\">, and <\/span><a href=\"http:\/\/amafirm-restaurantsupply.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Restaurant Supply Commercial Debt Collection.<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Let a skilled debt collection agency help you and <\/span><a href=\"https:\/\/www.amafirm.com\/contact-commercial-debt-collection-agency.php\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">contact us today<\/span><\/a><span style=\"font-weight: 400;\"> for more information.<\/span><\/body><\/html><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As 2016 comes to an end, many businesses are looking forward to the start of a new fiscal year. A new year brings on different obstacles and growth opportunities, but chances are you don&rsquo;t want one of those obstacles to be old uncollected debt. This is when a reputable debt collection agency comes in handy. &hellip; <a href=\"https:\/\/amafirm.com\/blog\/commerical-collections-news\/dont-bring-uncollected-debt-new-year\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Cost of Waiting: Don&#8217;t Bring Uncollected Debt into the New Year&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Don&#039;t Bring Uncollected Debt into the New Year | AMA Blog<\/title>\n<meta name=\"description\" content=\"A new year brings on different obstacles and growth opportunities, but chances are you don\u2019t want one of those obstacles to be old uncollected debt.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/amafirm.com\/blog\/commerical-collections-news\/dont-bring-uncollected-debt-new-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Don&#039;t Bring Uncollected Debt into the New Year | AMA Blog\" \/>\n<meta property=\"og:description\" content=\"A new year brings on different obstacles and growth opportunities, but chances are you don\u2019t want one of those obstacles to be old uncollected debt.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/amafirm.com\/blog\/commerical-collections-news\/dont-bring-uncollected-debt-new-year\/\" \/>\n<meta property=\"og:site_name\" content=\"Alexander Miller &amp; 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