As we’re writing this, the longest ever U.S. Federal Government shutdown just ended, albeit perhaps only temporarily. Whatever your political views, there are clearly economic costs to both businesses and individuals. Some of those costs are far reaching. Even if none of your clients are federal employees or agencies, you may still feel the burn … Read more
Anytime you work for a company or ship a product before getting paid, you are extending credit to that company. That’s why, just like any lender, before you begin working with a new client or company you should review the 5 Cs of Credit. Character For individuals applying for a loan, “character” generally refers to … Read more
For 20 years, the United States – China Exchange Council (USCEC) has hosted delegate exchanges between the U.S. and China for the purposes of education, commerce, and friendship. Because of his experience with multiple industries and his extensive knowledge of both U.S. and international commercial collections, Dean Kaplan was recently asked to speak to a … Read more
Principal Dean Kaplan was recently interviewed by Yahoo Finance – you can view the video above, or read the article below: If a business has debt and doesn’t pay, a debt collection agency will be on the hunt to track the money down. That’s where Dean Kaplan comes in. As CEO of The Kaplan Group, a commercial collections … Read more
You are probably well informed about your industry. It would be hard to run your business if you weren’t. But what about your clients? Do you know what’s going on in their business world? One of the best ways to solve debt collection problems is to prevent them from happening in the first place. When … Read more
When it comes to companies that owe you money there are two basic types, those who won’t pay and those who can’t pay. With a company that can pay, but won’t, either because they are unhappy with the work or simply want to get away without paying, it’s best to act quickly. If a company … Read more
Social media is how we live today. We find recommendations for restaurants and babysitters, we find jobs and dates, we rant about poor customer service and annoying coworkers, but should we also use social media to try and get paid? Is social media a good tool for collecting on unpaid invoices? Well-meaning friends and … Read more
Sometimes, a company that cannot pay its bills may offer you stock, or equity instead of paying what is owed. If you have a personal relationship with the company, or truly believe that their financial problems are temporary, this can be a tempting option. It may seem that by accepting stock options, equity, or … Read more
As with almost any problem, the best way to stop debt collection problems is before they start. The second-best solution is to identify a problem early. Business owners are often unsure about when to turn a client over to a collection agency. Unfortunately, studies show that after seven months, the chance of collecting on … Read more
A lot of executives, especially entrepreneurs, think of themselves as independent, but the truth is very few businesses stand alone. The financial wellbeing of your company may be much more dependent on other companies, and random factors, than you like to admit. The most obvious connections are between you and your clients. If a client … Read more
