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Choosing A Debt Collection Agency

Deciding on your debt collection agency is a task which is crucial for your business. You cannot afford to get it wrong. Keeping a few points in mind while choosing your agency would help.Debt Collection Agencies (DCAs) offer third-party assistance when your best efforts to collect debt are thwarted. They are a pre-legal course you could take for debt collection. Services of a reputable DCA are designed to protect your reputation, retain your customer base and maximize your cash flow. However, you should examine all DCAs on the table against some basic criteria. Decide on a DCA that ticks all of your boxes.How to Choose Your Collection Agency
Following a well thought out procedure while selecting a Debt Recovery Agency will always help.SearchSearching the database of the Credit Services Association (CSA) is the best place to look for a Debt Collection Agency (DCA). The CSA is the umbrella body for the collection industry, which bounds its members with its Code of Practice. This ensures legal and ethical practices, high business standards, and fairness in dealing with your customers.However, before you visit CSA website, you should determine whether you need B2B or B2C competent debt collectors. Every agency has its core competency in B2B or B2C debt collections. Both the streams require different skills sets and working practices are also different. So look at this aspect before taking the final call.ShortlistWhen you have readied a shortlist of DCAs, begin testing their openness, integrity and customer service skills. For determining their level of competency, ask them following questions:* Do you have customers in my particular business stream?
* Can you offer me references that I can contact?
* Do you operate on a no-collection-no-commission basis?
* What are your remittance rules?
* Do you provide online performance reporting?If the DCA provides satisfactory answers to your questions, you can move ahead.SatisfyNow is the time to take a final call on appointing the DCA. Make an appointment with the DCAs you have finalized and put up all the queries you have. You could ask them whether they have in-house tracing system to locate absconded debtors, their skills regarding overseas collection, and in-house legal assistance.Legal AngleIn Canada, debt collection is governed by the Collection Agencies Act, which could differ from state to state. Objective of the law is to get away with abusive practices in the collection of consumer debts and to promote fair debt collection. It provides debtors with an avenue for disputing and obtaining validation of debt information. Debt collectors may conduct their business under the guidelines laid down by the Act.Basic Debt Collection SkillsA debt collector must have some certain basic skills to succeed in his job:Negotiation: He has to be a good negotiator. He will be required to convince debtors about repaying their debts and secure their acceptance of cash settlement plan.Firm but Fair: A debt collector has to be firm but should make unreasonable demands.Investigation: To investigate is a part of debt collector’s job. He might be required to trace an absconding debtor or find out details of a persons’ finance.Fair Debt Collection Practices: Collectors should be well-versed with the fair debt collection practices. An aberration could land them and the agency in legal trouble.DCAs operating in various regions of Canada can be found online. Do proper research to single out one for you among collection agencies Ontario.

How to Sell Your Structured Settlement

There are a lot of things you need to do to sell your structured settlement. First you need to shop it around with many different companies to get the best price. The three biggest companies in the industry are JG Wentworth, Peachtree Settlement Funding, and Stone Street Capital. If you are selling an annuity or structured settlement ask all three of them. In addition to calling the biggest companies you should get quotes and from the smaller companies. There are a lot of companies in this business so it`s better to contact a bunch to get the best price.To find the smaller companies you can use Google. Just write “sell structured settlement”, “get structured settlement quote” or “buy structured settlement” in the search engine. When the offers start coming you can pit these companies against each other to get the highest price. All offers must be written down then as they come in just start forwarding them to competing companies until they give you the highest price.Check out all companies before you agree and if something sounds too good to be true then it probably is. For example if you get $65 thousand after haggling and negotiating as the highest quote and at the last moment another company comes in with a crazy offer like $90 thousand, be very careful. Some of these companies will offer you very high price to get your structured settlement, then will back out after you sign the contract (which they can do) and say that they can not offer you that price anymore and you`ll have to take small sum. After that they will tell you that if you cancel the contract with them you`ll have to start the process again which`ll take months so it`s better to accept their new offer. So if you get a high reasonable offer take it, don’t get unreasonable high offers because in this industry there are a lot of companies who do that on a regular basis.

Time Management Basics

Time management is the most important asset one can have these days, with the collapse of traditional values any person can find himself running a few, parallel different lives all at once. I am sure you are not a stranger to this situation, you have too much you need to do, you do not have the time, and you see all your leisure time fade away as you calculate how will you manage to do all these things you must.Not only do most people know this situation, most people know something about time management, but fail to understand it correctly and most importantly, fail to comprehend the basic concepts of time management and implement them in their very busy lives.Time management is not about doing too many things in less time but doing right things at right time in right way. How you manage your time is part of your personal agenda. However, there are a few generic steps that help you manage your time in a better way, more so in case of executives and ever-occupied corporate.It take the average adult about 5 years until he or she understands that they had enough of stress and trouble over not getting the work done on time, the laundry on time and all those family activities they have been wishing to do for so long – ever. Time management is the answer to most of these problems and almost anyone can find a way to have a little more time to do more things and enjoy life a whole lot more.The first step towards effective time management, and a regular time management routine is to set clear goals and targets, keeping your mind on the target and goal will assist you in getting where you want . Goal setting makes you more focused and sets a direction for how the tasks should proceed. The goals should be clear, concise, unambiguous. Try and evaluate, realistically, how much time you got and what you want to achieve and than set a plan of getting it.This planning will allow you to “see” time and plan how to use it, you will know how much time you want to allocate to any task and you will also have the ability to keep an eye on your advancement as you go along, taking more time if needed or delaying the goal when realizing it will take more time.Prioritizing is the most important thing in time management, you need to understand how to create an importance level and assign it to all the things in your life, your time management will be as successful and as clear as the priority you set in your life. Important point to be remembered here is that prioritizing does not mean doing only what is important and leaving out on rest, rather it is doing what is important first and then proceeding with the rest.Scheduling and Routine Setting: Scheduling binds your prioritized tasks and goals in a time frame such that you get a productive outcome of your available time. A carefully made schedule motivates you to complete your tasks on time and cuts down on the time bandits by limiting the amount of time you spend on a particular task.These steps outline the basics of effective time management.

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