Direct Recovery
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Direct Recovery Associates, Inc. is a debt collection agency specializing in collecting commercial and professional service claims throughout the U.S. and internationally. Read the latest news in the debt recovery industry and get financial tips from a debt collection agency.
Direct Recovery
5M ago
With the global pandemic in our rearview mirror and an upcoming election here in the United States, 2024 should be an opportunity to post record numbers for businesses of all shapes and sizes across the country. However, things aren’t as positive as we might like to see closing out 2023.
Regardless of the shape your business is in right now, or whatever may lie ahead in the coming year, there is nothing wrong with being cautiously optimistic and attempting to cut costs while hoping for monster revenues in 2024.
To help you plan for the worst-case scenario on a just-in-case basis, here are seve ..read more
Direct Recovery
6M ago
Operating a small business can be overwhelming, even on the best days. Unfortunately, the best days have been few and far between for most businesses across the country over these past few years.
Between economic fears limiting consumer spending and rising costs leading to shrinking margins, almost everyone feels the pinch today. That means every little thing you might do to save money, time, and effort could be significant, and removing the task of managing your collections accounts from your plate can go a long way toward making things easier.
Let’s jump in and take a closer look at five rea ..read more
Direct Recovery
6M ago
Rising interest rates are putting a strain on consumer finances across the country, and no one is sure whether inflation has finally calmed down or not. Whatever you think about economic policy, there is no denying that we’re all struggling to adjust right now.
While conditions are certainly not ideal, getting ahead is still possible, and that is especially true if you are willing to trim your personal budget. Let’s look at six minor adjustments you can make today to help yourself get out of debt over the winter!
Stop Shopping Online
It’s a proven fact that spending money is much easier when y ..read more
Direct Recovery
8M ago
Once an outstanding debt reaches time-barred status and is no longer collectible, there is little that a creditor can do to recover the amount owed, so the best approach to handling time-barred debt is to avoid getting to that point in the first place.
If you want to ensure that your outstanding balance doesn’t fall into time-barred territory, here are six tips to help you stay on top of your collections.
Maintain an Accurate Database
The first step in stopping debts from becoming time-barred is to ensure that you have an accurate database including all the details of your open accounts, amoun ..read more
Direct Recovery
8M ago
Cash flow is commonly said to be the lifeblood of any good business, so it only makes sense that the best companies would want to do everything in their power to increase cash flow.
Improving the debt collection rate is one of the easiest ways to increase cash flow for any company extending credit to its customers.
These debt collection rate improvements can impact a business’s cash flow in four different ways, which means there are four good reasons you should be thinking about upgrading your collection effort right now.
Reason 1: Boosts Financial Health
The primary reason that increasing you ..read more
Direct Recovery
8M ago
An emergency fund is typically defined as a cash reserve set aside for unforeseen expenses or financial emergencies, and having one in place can help even the most substantial companies survive the tough times that inevitably come for all of us.
Emergency funds are especially important for small businesses that operate with the additional risk of outstanding collections, which can throw a wrench into expected cash flow at any moment. If you are running one of these companies, there is no time like the present to assess and plan for the risk those collection accounts can pose to your business ..read more
Direct Recovery
8M ago
As one of the most popular shows of 2023, The Bear has been streaming in millions of homes nationwide, giving regular people an inside look at the tortured souls in the restaurant industry.
While the show has been getting critical acclaim for its accurate portrayal of the sometimes ups but mostly downs of running a restaurant in a post-COVID world, quite a few general business lessons are coming through the screen simultaneously.
In addition to laying down lessons for aspiring restauranteurs, there is also plenty of wisdom for general businesses, including the commercial debt collection indust ..read more
Direct Recovery
1y ago
If you’re drowning in debt, you might feel like you are all alone with no way out. However, the exact opposite is actually true.
California has one of the highest bankruptcy rates in the country, but the majority of consumers here still need to learn more about the process involved to make informed decisions on whether it might be a good option for them.
What debts will be eliminated? What obligations would NOT be eliminated? How long will bankruptcy impact your credit?
In this complete guide to bankruptcy in California, we’ll break down everything you need to know to decide on the best path ..read more
Direct Recovery
1y ago
Wage garnishments are the ultimate threat posed by every debt collection scenario, but finding yourself on the wrong end of one doesn’t have to be a financial death sentence.
The whole process can start with something as simple as falling behind on a few credit cards, and the next thing you know, you can’t make ends meet, and the collections calls start coming. Legal notices soon follow, along with a court judgment taking a big chunk of your paycheck.
The best way to avoid or resolve a wage garnishment from a collection situation is to start by understanding everything you can about the probl ..read more
Direct Recovery
1y ago
Managing your debt and confronting various debt collectors can be intimidating, but it becomes much simpler when you understand the rules everyone must follow.
One of the most important things to know about any debt is that there comes a time when it is too old for anyone to harass you about it. The rules are different depending on several factors, but knowing how things work in your situation could make getting out from underneath the burden of your previous mistakes much easier.
What is a Statute of Limitations?
A statute of limitation is a legal term that defines the specific length of time ..read more