Success Rate Valued Over Price When Choosing A Debt Collection Agency
by Takara Alexis
The latest "Global Collections Review" survey, lets us see a new trend amongst businesses when selecting a debt collections agency. Unlike in the past year, companies put more attention on the agencies' success rate, less the cost.
This craze can be seen amongst many major European countries and reveals a mindshift in European businesses seeking support from external agencies when collecting outstanding debt. The success rate of a debt collections agency easily allows comparison between collection agencies' performance. The success rate is defined as the value of collected payments of the total debt received and expressed as a percentage. The total excludes insolvencies and withdrawals.
Successful debt collections and establishing solvency is essential to business. The study has made clear that the choice of a collection agency is made based on its quality, meaning its performance and ability to succeed in collecting, and not price.
The ability of external debt collection agencies to deliver results is the key factor for businesses to employ a debt collections agency.
With the economy picking up and staff busy focusing on incoming business, collecting debt can again be seen as a task that is more frequently handed over to external agencies.
Leader in usage of external debt collections agencies is the Netherlands where 65% of the surveyed businesses have used this service and is much higher than in countries, such as Spain which remains at a low 20%.
Broken down by sectors, companies operating in the financial services sector seem to use a debt collections agency more often while in the other sectors, such as manufacturing, wholesale and retail trade and distribution, services, companies have a preference towards collecting internally.
Overall, European attitudes relating to the choices of debt collection agencies were incredibly similar, which indicates that the requirements, expectations and high standards demanded of agencies are constant factors irrespective of business size, type or location.
Rapid Recovery Solution is an attorney based collections agency specializing in debt recovery. Our collection agency attorney works non-stop along with our many experts at Rapid Recovery to quickly collect your money. Contact RRS for more information or request your FREE quote today!
Showing posts with label debt recovery. Show all posts
Showing posts with label debt recovery. Show all posts
Wednesday, June 1, 2011
Thursday, April 21, 2011
Avoiding Retirement Hazards
Avoiding Retirement Hazards
by Takara Alexis
As health care costs keep rising dramatically all of the time, employers are also shifting more weight of the prices onto their employees. Many companies are starting to drop retired workers from their health plans, and on top of that, millions of Americans have no form of coverage at all.
So one of the most common mistakes made in retirement, is a lack of preparation for the financial impact of your health. One very overlooked and most expensive costs is long-term healthcare. Long-term health costs can be devastating to a financial plan, so buying long term care insurance early on can assist with minimizing its costs severely.
A typical assumption is that you should have enough retirement assets to last you until your life expectancy is reached.
But today, the world is always going through changes. As medical technology goes up along with life expectancy, the odds are good that at least you or your spouse will live past age 90. So it is vital that you are prepared to live longer.
Your generation is famous for working extra long, hard and abnormal hours to try to get ahead. And most baby boomers agree that they will be working long into retirement. But that could be one of the biggest retirement mistakes you make.
As of now, the average age of retirement in America, is 62. According to the Employee Benefit Research Institute Retirement Confidence Survey of 2007, among retirees who had to leave the workforce earlier than they wanted to, 28% did so because of disability, 28% because of layoffs or corporate restructuring and 25% to care for a spouse or family member. So even if you decide to work as long as you can, it may not always be possible and it's vital that you plan and save for such a scenario.
by Takara Alexis
As health care costs keep rising dramatically all of the time, employers are also shifting more weight of the prices onto their employees. Many companies are starting to drop retired workers from their health plans, and on top of that, millions of Americans have no form of coverage at all.
So one of the most common mistakes made in retirement, is a lack of preparation for the financial impact of your health. One very overlooked and most expensive costs is long-term healthcare. Long-term health costs can be devastating to a financial plan, so buying long term care insurance early on can assist with minimizing its costs severely.
A typical assumption is that you should have enough retirement assets to last you until your life expectancy is reached.
But today, the world is always going through changes. As medical technology goes up along with life expectancy, the odds are good that at least you or your spouse will live past age 90. So it is vital that you are prepared to live longer.
Your generation is famous for working extra long, hard and abnormal hours to try to get ahead. And most baby boomers agree that they will be working long into retirement. But that could be one of the biggest retirement mistakes you make.
As of now, the average age of retirement in America, is 62. According to the Employee Benefit Research Institute Retirement Confidence Survey of 2007, among retirees who had to leave the workforce earlier than they wanted to, 28% did so because of disability, 28% because of layoffs or corporate restructuring and 25% to care for a spouse or family member. So even if you decide to work as long as you can, it may not always be possible and it's vital that you plan and save for such a scenario.
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