Collections and the bottom line: What debt collection agencies can do for you

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According to award-winning agency Brennan & Clark, debt collection agencies specialize in collecting delinquent debts on behalf of their clients, debts which are usually 60 days past due at the least. And often, the results are positive.

For today's blog, Brennan & Clark reviews some of the benefits companies can reap from hiring a third-party debt collection agency.

First off, debt collection agencies such as Brennan & Clark specialize in various kinds of debt. Depending on their strategies, some agencies are more likely to zero in on debts that have been delinquent for a shorter amount of time or a smaller amount of money.

These agencies also remit to their clients collected debt from credit card debt, medical debt, automobile loan debt, business debt, student loan debt, personal loan debt, and unpaid cell phone and utility bills. Typically, clients pay 25 to 45% of the amount to debt collection agencies.

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Furthermore, debt collection agencies are incredibly well-versed with the laws that govern debt collection. For instance, they know that the statute of limitations varies by state, and a reputable collection agency will follow those rules to the letter. This means clients won't have to worry about any legal repercussions.

In certain situations where debt collection agencies and companies have to deal with difficult debtors, agencies know how to negotiate settlements with customers and pursue legal action if debtors refuse to pay at all.

Brennan and Clark is a business collection agency that has been operating since 1980. A member of the Commercial Collection Agencies of America, the firm offers unparalleled service and the industry's most comprehensive guarantee. For more informative reads on business debt collection, follow this Twitter page.

A practical guide to ending debt in 2021

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Paying off debt is a good goal to have in 2021. Despite all the challenges during the past year, working towards financial stability is doable with the right strategies. The team at Brennan & Clark shares some tips for ending and managing debt this year.

Go for auto-debit options

Instead of having to take out the amount needed for debt settlement every payday, one can spare themselves the stress by signing up for auto-debit transactions. This will also allow debtors to send the payment on time and to make sure that the amount will be used to finish their debt.

Do the snowball method

This method involves paying off the debt with the smallest amount first while making minimum payments for larger accounts. After finishing the smallest debt, one can move on to the next one until all are completed. According to the team at Brennan & Clark, this strategy might be helpful to many, as seeing debts settled one by one will motivate them to keep on paying until they attain financial freedom.

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Know where to use cash windfalls

Bonuses and extra income should be used wisely. Instead of putting all in savings or using the extra cash to buy something luxurious, one should first consider their debts. While it's understandable to use some of the money for personal use, one should set aside a reasonable amount that will go to debt payment.

Brennan & Clark is a business collections firm that has been operating for over 30 years. The experience and expertise of its staff enable the company to guarantee higher recovery rates than the industry average. For similar reads, visit this blog.

Hot topic: What are creditors legally entitled to?

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Brennan & Clark, a business collection agency that has been operating since 1980, is also a member of the Commercial Collection Agencies of America. It has given high-quality and effective collections services for four decades, and in recent years, has shared the many things surrounding collections through its series of blogs.

Today’s blog is a rather important blog that explores one of the hottest topics in debt colletions. In here, Brennan & Clark answer the question “what are creditors legally entitled to?”

While that may sound like a question that begs for vague answers, Brennan & Clark assures readers that what creditors are legally entitled to are very clear. For starters, they have a legally protected right to collect both secured and unsecured debt when debtors fail to pay. There are several legal ways in which to go about it.

One way for creditors to legally collect debt is through the use of collection attorneys or lawyers. These law practitioners file lawsuits and use other legal collection methods to collect consumer or commercial debts, represent creditors’ interests in a bankruptcy proceeding, foreclose homes or commercial real estate if the buyer defaults on payment, or recovers secured goods such as vehicles if the buyer defaults on payment.

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Brennan & Clark also notes that creditors can forego the use of lawyers and contact debtors either directly or through a collections agency. The best collections agencies, such as Brennan & Clark, are well-versed in the legalities of collections and are highly effective in collecting debts.

Brennan and Clark is a business collection agency that has been operating since 1980. A member of the Commercial Collection Agencies of America, the firm offers unparalleled service as well as the most comprehensive guarantee in the industry. For more information on the company, visit this website.

On microloans, startups, and bad credit

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It hasn’t been lost to collections firm Brennan & Clark just how difficult things are for businesses this year. Countless companies have folded under the economic pressure that the current global health crisis has forced on everyone, and it seems this will be the trend for the next few years.

What’s worse, according to Brennan & Clark, is that many of these businesses are still in their startup phase, so when folding more likely means incurring a bad credit score. This, of course, does not bode well for new and young entrepreneurs should they try approaching financial institutions in the future to secure loans for future businesses. However, there are still ways for entrepreneurs to secure funding for prospective businesses legally.

One of these ways is through microloans.

Microloans may be the best solution for funding for a business venture for people with bad credit. These are alternative financing options designed specifically for small businesses. And while these loans are considered small by banking standards, they are still proven to be of immense help for business owners who plan to get back up.

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Brennan & Clark mentions that sometimes pulling out a microloan has a few bonuses in store, such as tech support and training programs from nonprofits that function as intermediaries for loans. Moreover, applying and securing microloans is easier as they are generally less restrictive compared to banks.

That said, Brennan & Clark still mentions that business owners provide legitimate explanations as to why they incurred bad credit in the first place.

Brennan & Clark is a recognized leader in the commercial collection industry with its nearly 40 years of deep thinking, talent development, process refinement, and technological advancement. For more on the company and the services it offers, click here.

Important information for individuals and business owners in debt

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Brennan & Clark is a collections agency with decades of experience helping businesses with their collections. The company has also shared its vast knowledge and wisdom on debt, credit, taxes, and collections in hopes that individuals and business owners everywhere make informed decisions about their finances and collections.

For today, Brennan & Clark looks into debt and the ways people and establishment owners can make some headroom out of it.

It is important first to understand that there are many ways an individual or a company falls into debt. Usually, they take out a loan for something important. For individuals, it may range from student loans to mortgages. For business owners, loans can be for business expansion or pay off taxes after a bad financial month. A business may fall deeper into debt when its clients do not get to pay dues, which is considered a bad debt.

Brennan & Clark notes that there are several ways to deal with debt. For individuals, hiring a financial consultant is an excellent first step to understand the issues further.

For businesses, tapping the services of a good and reputable collections agency can yield promising results. This is because the best agencies not only collect but also provide other important services, such as providing financial and legal advice, Brennan & Clark adds.

Brennan & Clark is a business collections firm that has been in the business for nearly 40 years. The firm’s management team has been together for decades, and the combined experience and expertise of the staff enables Brennan & Clark to guarantee higher average recovery rates than the industry average. For more reads on debt collection, visit this blog.

The art of negotiation: Handling debt in collections

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It is understandable why people have a dislike for debt collectors. Receiving calls from debt collectors during work hours and finding collection letters once at home is never fun. The best way to stop receiving calls and letters is by simply settling the debt. It becomes a problem when the debt is huge.

Negotiating is not rocket science yet requires a set of skills and a few actions necessary to get the job done. For better repayment terms, some borrowers may decide to bargain. This will help stop debt collection calls or have their debt reported on their credit rating as paid in full, mentions business collections agency Brennan & Clark. The first thing a debtor needs to do is to verify their debt. Eliminate mistakes by making sure the debt is collector is a legitimate one.

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Before initiating the negotiation process, brush up on The Fair Debt Collection Practices Act. Having a good understanding of one’s rights affords them the confidence to resist harassment from debt collectors. Consider the debt owed to know which settlement plans are available. When the debt is confirmed along with possible settlement plans, consider hardship programs, particularly during an event like the COVID-19 pandemic, wherein many are dependent on government benefits.

According to Brennan & Clark, debtors can offer a lump sum significantly less than the original debt owed. However, it must be clearly understood that the sum provided or alternative repayment options considered are attainable. Reaching such a compromise would prove to be useless when one is incapable of paying on schedule.

Brennan & Clark is a business collections agency that helps businesses eliminate credit losses through customized receivable support solutions. For similar reads, visit this page.

A fundamental understanding of business credit rating

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Businesses succeed because the people behind them come up with more good decisions than bad ones, which allow them to profit and eventually expand. Brennan & Clark would agree that understanding what a business credit rating is will let any business to see options that can help them reach their hefty goals sooner.

Essentially, a business credit rating is the ticket of any business to getting a much-needed financial boost that they can then use to empower their venture. When you apply for a business loan, lenders will have to assess your business, mainly to find out the level of risk that is involved in giving your business loan approval.

Often, the biggest factor that determines this is the past financial behavior of your business. So, in a very strong sense, your company must establish an upstanding record early on, to prime yourself as a candidate that is worthy of a future loan.

This means that if your bank records show that you are diligent and conscientious on your financial obligations, you can expect to have a good credit rating, a record that you can show to prove that you are worthy of some form of credit. This will make any prospecting lender see that they can risk on you once they perform a business credit check.

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A business that has a lower credit rating may be able to loan, but this is done at the risk of a willing lender. Should they default for some unfortunate reason, the expertise of a business collection agency like Brennan & Clark comes in, as they specialize in credit loss management.

The ones who truly stand to gain from a good credit rating are the businesses that are serious about realizing their full potential. This makes it wise for them to be mindful of financial obligations and see to it that these are fulfilled punctually.

Brennan & Clark is a leading business collections agency that offers the most comprehensive guarantee in the industry. The firm analyzes a client’s current collections procedures and develops strategies to improve the performance of receivables. Follow this Twitter page for more updates.

Expert tips on improving business scores after the pandemic

As a part of its continued service to its clients and to business owners everywhere, Brennan & Clark is releasing a number of extremely helpful blogs to help businesses recover from the otherwise devastating economic effects of the coronavirus pandemic.

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For today’s blog, Brennan & Clark will be sharing a few important tips for businesses both new and old, on how to improve their business credit scores after (and maybe even during) the current global health crisis.

A few technical requirements

Brennan & Clark recommends that business owners get a few important technical requirement such as a Federal Employer Identification Number (EIN) and a business bank account to go along with it, a phone line for the business itself, and a DUNS number from Dun & Bradstreet to establish their credit score.

Be aware of the credit score

Business credit scores have the power to make or break a business. As such, business owners need to know the balance of their debt and loans. Business owners have to make sure that whenever they have debt, they settle accounts on time and keep the amount of debt to a minimum.

Hire a good collections company

A good collections company, Brennan & Clark explains, will help businesses collect their much-needed dues from clients. These dues will be used to pay for debt and ultimately raise the credit score. The caveat, though, is that it has to be a reputable and dependable collections company.

Brennan & Clark is a business collections agency that aids entrepreneurs in eliminating credit losses. The firm has been in operation for over 30 years. Go to this page for similar posts.

Everything you need to know to raise your credit score

The credit score is used by lenders to know if it is safe to conduct business with a person. Good credit enables a person to qualify for loans much easier and obtain credit cards with reasonable interest rates, saving a person time and money in many ways.

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Check credit reports to know where you are at in the meter. Request for a report from one of the three reporting agencies to review the information posted. If there are any errors, dispute them. Immediately notify the agency of false information to improve the score. Finance experts at Brennan & Clark recommend setting up payment reminders to be diligent in paying bills on time. Being consistent in making payments on time raises one’s credit score.

If possible, pay twice in a single billing cycle. Instead of paying for bills once a month, pay them every two weeks to reduce the credit utilization, improving the credit score. Prioritize maxed out accounts. Pay credit cards with amounts owed close to the limit to pull down credit utilization rates.

Collections agency Brennan & Clark says having more than two credit cards can be a struggle to maintain. Avoid applying for new cards too often. A hard inquiry—which can temporarily lower one’s credit score—is recorded on a person’s credit report when a new line of credit is applied. It can remain on the credit report for two years and can affect the credit score for the initial year.

Brennan & Clark is a business collections firm that forms strategic alliances with its clients. The firm aids businesses eliminate credit losses by analyzing and improving on the elements of the collection process to make it more efficient. Click here for similar reads.

Credit, debt, and beyond: Financial reminders for young entrepreneurs

While the accumulation of debt may be quite a typical occurrence in business affairs, it can, at times, get incredibly stressful and become a hindrance to getting the all-important decent credit score. Brennan & Clark has seen it happen more times than the company would like, how young, inexperienced business owners miss some important steps in securing their finances.

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As a service, Brennan & Clark shares some tips for young entrepreneurs on how to handle their finances.

Awareness is key.

Even if an accountant or financial consultant has already been hired, business owners should still at the very least, have a general awareness of the finances of the company. General information such as overall standing, overall expenses, and net profits are some of the figures that owners have to be aware of.

Invoices are important.

Business owners should familiarize themselves with invoices since these are how they can track the flow of the company’s finances. Even just a rudimentary understanding of invoices can go a long way when owners check the records.

Business plans are significant.

Brennan & Clark always advises new entrepreneurs with startups to refresh themselves on their business plans every few months. While the market changes, the projections on business plans may vary. Business plans also provide a good gauge of how far a company’s budget can be stretched.

Brennan & Clark is a business collections agency that provides customized receivables support solutions that help businesses eliminate credit losses. Visit this blog for more reads on debt collection.

Business loan mistakes your company should avoid

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Small and medium businesses are often at risk of bankruptcy due to cash flow problems. Lack of customers or customers who fail to make timely payments can easily throw a wrench into your well-functioning cash flow system and ruin everything. This is why some businesses take loans to keep their business running. But according to Brennan and Clark, not all loans are good for your company. Here are some business loan mistakes you need to avoid.

High finance charges: The easier to get your loan approved, the more difficult it is to settle it. This is often the case of loans with high-interest rates. At the end of each payment period, your money goes to paying the interest rather than paying off the debt. If your business is still struggling while you’re trying to pay off a loan, these high finance charges could bleed your business dry.

Luxury purchases: There are times when business owners are confident in their upcoming sales that they go and make credit purchases to get luxury items for the workplace. And while the intention might be good, putting your cash flow at risk for a new office toy might not be worth it. Things can go south real quick in real life.

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Expanding too soon: A lot of entrepreneurs tend to become aggressive when they have the momentum. When things are looking great, they might want to capitalize on their win by taking a new loan to expand operations. According to finance experts at Brennan and Clark, doing so and failing could end up affecting your successful business. In fact, the losses incurred from the other business could end up taking down the first one with it.

Brennan and Clark is a business collections firm that has been in the business for over 30 years. The firm’s management team has been together for the past 20 years, and the combined experience and expertise of its staff enables the company to guarantee higher average recovery rates than the industry average. For more reads on debt settlement and finance, visit this page.

Start the year right with a debt management plan

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Setting financial goals for the new year is a good move for those who want to become better handlers of their income. According to the experts at Brennan & Clark, while paying debts in full might take some time, this will certainly ease a person's anxiety when it comes to money. Check out this guide for creating a debt management plan.

Assess debts: Before coming up with a plan, it's essential to know one's financial standing. This will dictate other important details of the plan, such as the length of time and which ones to finish first. Making a list of all the debts along with one's income will enable a person to plan accordingly, preventing the feeling of being overwhelmed when it comes to making the payment.

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Create a detailed and time-bound plan: To accomplish a goal, it must be realistic and time-bound. This is especially true when it comes to money matters. When drafting a debt management plan, trying to pay off everything all at once can be counterproductive. Instead, one should do it step by step. Taking note of payment days and the amount to be paid will enable a person to prepare and adjust, if necessary.

Choose which debts to focus on: The team at Brennan & Clark suggests listing debts and prioritizing which ones to finish first. One can choose to pay the account with the lowest interest or the one with the highest rates. Starting from the lowest allows a person to pay other debts faster. On the other hand, paying the highest one first will allow a person to finish a debt that might incur more costs in the future. To choose which debt to focus on, it might help to consider a person's current budget and expenditures while planning.

Brennan & Clark is a business collections firm that has been operating for over 30 years. The combined experience and expertise of its staff enables the company to guarantee higher recovery rates than the industry average. For similar reads, visit this blog.

Global debt collection trends to keep track in 2020

Debt collection is a practice regarded older than the history of making money. As early as the barter system, the practice of debt collection has already existed. The debt collection industry has evolved since employing new ways of doing the practice.

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In 2020, consumer debt will continue to increase with credit card debt, auto loans, and student loans leading the trend. Debt collection methods will change through digitization since in-house collections, aggressive calling, and sending invoices have all been proven ineffective ways of collecting debt. Brennan & Clark notes that digitization of methods can improve the customer experience as technology-based debt collection will result in upgraded client engagement. As the prediction of artificial intelligence makes for better forecast numbers, analysis of client communication preferences and the level of trailing each client will require are ensured.

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Heavy reliance on technology will become more prevalent in 2020 as digitized methods will prove to be much better than previous techniques. A more preemptive manner will replace aggressive phone calls to collecting as a result of flexible payment options—a win-win situation for both the client and the creditor.

Brennan & Clark notes that mortgage remains among the top contributors to the nation’s overall debt scene as a single household has $150,000 in debt as an average. Medical bills aren’t as high as credit card loans, student loans, and auto loans, with an average citizen owing $597 in medical expenses. While debt collection for these expenses will be done in ways different than before, the debt scenario stays on a high level like the previous years.

Brennan & Clark is a business collections agency that works with clients in formulating an effective plan that augments the collections strategies that are already in place. For more updates like this, visit this page.

What happens to a company with a bad credit score?

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Most people are aware of what happens to a person with a bad credit score. Financial institutions could see someone with bad credit score as a liability. If you have a bad credit score, it will be unlikely for banks or other creditors to offer you a line of credit. Besides this, it can also affect your purchasing power. You may find it difficult to make large purchases like automobiles or properties if your credit score is terrible.


According to the finance experts at Brennan & Clark, a trusted debt collection agency, companies can also have a bad credit score. What does happen when a company has a bad credit score? Is it the same as that of an individual?

The answer is it can be worse for companies with bad credit rating. And like personal credit, a business can get a bad rating when it starts failing to make payments regularly. Perhaps the company has other payment obligations as well, and it chooses to use its line of credit to pay off other debts only to have its debts consolidated in its business line of credit.

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A business with a bad credit score is viewed differently by other firms. For example, utility companies would ask clients with bad credit ratings for a deposit before rendering any services. As for other services such as distributors, they may just outright deny the business of goods if they feel like the business won’t be able to make payments. Finance experts at Brennan & Clark believe that bad credit ratings are there to protect the users themselves from getting into debt so deep that they are unable to pay them off.

Brennan & Clark is a business collections firm that offers receivables support solutions to businesses. Through this complete program that is customized to meet the needs of every client, the firm provides assistance in evaluating and improving on a company’s collections process. Follow this Twitter account for more similar updates.

What business owners need to know about microlending

As part of upholding its stellar service to people everywhere, Brennan & Clark has shared a number of highly-informative blogs and articles on debt, credit, collections, and everything in between. On this blog, the firm focuses on microlending and what people need to know about it.

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Also known as microcredit or microfunding, microlending’s popularity skyrocketed in the ‘80s. With the subsequent boom of microenterprises in the decade (mostly run by people who didn’t have funding and needed to start over), the public’s opinion of microlending seemed to sway more towards the positive side. However, it has been questioned throughout the years.

An issue was raised on how most people who were lent money through microlending never really used or intended to use the funding for a business. Microlending affords these individuals with a brief reprieve from poverty, but also increases their expenses and deepens their debt through interest. As one critic puts it – microlending really doesn’t do poor people any favors since it inadvertently teaches them to spend more rather than save money. Ultimately, people in the lower income class don’t go above the poverty line.

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But not everyone who resorted to microlending sank deeper into debt. For some people, microlending funds were used to start small businesses (which is the ideal route, Brennan & Clark notes), thus breaking their own vicious cycle that many people fell into.

Brennan and Clark is a business collection agency that has been operating since 1980. A member of the Commercial Collection Agencies of America, the firm offers unparalleled service as well as the most comprehensive guarantee in the industry. For more information on the company, visit this website.

The importance of effective communication in debt collection

Brennan & Clark has a remarkable track record in business debt collections. This is due to factors such as well-trained collections agents and tried-and-tested methods of collecting. Another crucial part of its success in collecting business debts is communications.

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In debt collections, there is a proper way to communicate with the people and businesses who owe money. Communication is governed by rules and regulations such as those found in the Fair Debt Collection Practices Act. It is the Federal Trade Commission’s responsibility to implement these guidelines.

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The standards for communication are quite clear, as are the procedures to follow when reaching out to debtors. While Brennan & Clark have gone through many of the fine points regarding the instructions and standards used in debt collections in past blogs, the agency continues to reiterate why these instructions and standards should be followed.

The main reason following the guidelines is paramount is, so debt collectors don’t overstep their bounds. In doing so, collectors steer clear of any legal action from the debtor and are still free to continue collecting debt for their clients. If one goes through the many guidelines of debt collections, they’ll notice that most of the items pertain to the rights of the debtor, Brennan & Clark notes.

Brennan & Clark is a business collections agency providing customized receivables support solutions that help businesses eliminate credit losses. Click here for more information on the company and its services.

More tips for small businesses looking to manage financial risks

Every entrepreneur knows that proper money management is the key to achieving goals. If one is to avoid falling into financial debt while reaching company growth milestones, nothing less than a sound finance management is a must. Hereunder are some ways small business owners can best manage their money while maintaining good cash flow, courtesy of finance and credit professional Brennan & Clark.

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Keep track of expenditures: Simply establishing a process for monitoring spending will help a lot in avoiding financial risks. Watch your travel expenses and pay special attention to subscription-based services, as the rates of these may change without warning. Any abrupt changes in monthly charges should be detected, studied, and avoided if you are to maintain your profits.

Come up with budget statements: Always make it a point to prepare a budget report at the end of every fiscal year. You need a comprehensive budget guide if you are to keep your profits and not overspend. Determine the budget you’d have for the coming year while assigning certain portions to different business-related expenses. Only then will you truly able to calculate your so-called “thinking capital” for business growth.

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Open a separate bank account for your business: One of the fundamental tips in managing small business finances is having separate business and personal bank accounts. This way, you won’t be tempted to use your business credit card to buy personal luxuries. You avoid any future confusion with tracking your business income and spending by abiding by this tenet, Brennan & Clark advises.

Brennan & Clark is a business collections agency that aids entrepreneurs in eliminating credit losses. The firm has been in operation for over 30 years. More reads related to finances and credit management here.

Paying off debt: Always stick to the plan

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While Brennan & Clark is primarily a firm providing efficient business collections for companies, it also does its part in educating creditors, business owners, and consumers on the basics of collections, debts, credit, and the many aspects of finance through its blogs.


Today, Brennan & Clark tackles a topic that affects most Americans, business owners or otherwise—debt payoff plans. This blog won’t be coming up with plans, but rather will be providing helpful information on how people and businesses can stick with the debt payoff plans that they already have.

Be realistic.

Nothing causes a plan to fail quite like a lack of realism. Overestimation of possible payments, for businesses ands person in a given time period can backfire in disastrous levels.

Write it down.

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While businesses always have documentation of outstanding debts, many people do not. Brennan & Clark suggests putting everything on paper or in a file on the laptop or phone. This reminds every one of due dates and minimum payments.

Pay beyond minimum

Brennan & Clark explains that interest rates are often the culprits in crippling debt, especially when businesses and people always opt for paying minimum dues. Paying more than the minimum can shorten debt payoffs and overcome interest rates.

Limit loans.

Limiting loans for a month or two may be seem an easy plan, as Brennan & Clark explains, but it requires discipline and much planning, especially for businesses. However, it’s a good way to reduce debt and avoid further incurring more.
Brennan & Clark LLC is a business collections agency that provides customized receivables support solutions that help businesses eliminate credit losses. Visit this blog for more reads on debt collection.

PSA: Illegal ways to collect debt that everyone should be wary about

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Brennan & Clark is a business collections agency that has time and again proven that it can provide quality collections for its clients. However, the agency has taken that extra step to help inform people who are willing to read and learn about the ins and outs of collections. After all, debt collections, whether business or personal, is a big part of everyone’s lives.

On that note, Brennan & Clark shares with people its insights on illegal practices on collections that every American should be wary about.

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• Businesses that hire debt collections companies should do their research and should monitor how these companies collect debts for them. For example, in 2015, JP Morgan Chase was caught practicing illegal ways to collect debt causing widespread outrage, refunding of collections, and payment of penalties.

• The U.S. Federal Trade Commission regulates the ways debt is collected via the Fair Debt Collection Practices Act or FDCPA. Any method of collecting that isn’t part of the FDCPA guidelines is considered illegal.

• There are certain times of the day when debtors may not be contacted. These are early morning or late at night. The debtor may also be requested to not be bothered at work.

• Any threat, harassment (online or in the real world), cursing, non-stop calling, badgering, false statement, or deception is not allowed by the FDCPA.

• Charging a higher rate in the guise of an increased interest, which isn’t part of the creditor-debtor contract is considered illegal as well.

Brennan and Clark is a business collections agency that aids entrepreneurs in eliminating credit losses. The firm, which has been operating for more than 30 years, is known for forming strategic alliances with its clients. For more articles like this, visit this page. 

Traits that a good debt collector should develop

Mastering the art of collection and succeeding in the industry entails cultivating some key traits. Below are the most crucial ones to develop, according to credit solution professional Brennan & Clark.

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 A collection agent must have a clear sense of empathy if they are to be able to survey the situation from the point of view of the client. Contrary to what a lot of people think, empathy is more connected to logic than it is to feelings. You want the client to open up to you because your reasoning is logical.

Of course, to be empathetic entails having great communication skills. Effectively communicating the issue of the debt to your client puts you in a position to truly resolve differences. Explaining the situation well will allow you to build a trusting relationship with the client as you are being perceived as a problem-solver.

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With communicating well comes developing great negotiation skills. Make sure that the solutions you present always have the client’s best interest at heart. This often means setting aside your own judgment and criticism. Your goal is to provide win-win outcomes, allowing both parties to walk away from the negotiation table happy and satisfied. Finally, complement this by always beinggoal-oriented. Do your best to align your personal goals to that of the agency, as this will make your work rewarding on many levels, Brennan & Clark adds.

Brennan & Clark offers unparalleled service as well as the most comprehensive guarantee in the credit collection industry. The firm provides customized receivables support solutions that help businesses eliminate credit losses. For related posts, visit this blog.