Michigan Commercial Debt Collector Discusses Write-Offs

CLAWSON, Mich. - Jan. 3, 2023 - PRLog -- Are you struggling with debtors?

Are they dodging your emails and phone calls?

You may be considering writing off their debt. A write-off occurs when a business removes the charge from a non-paying customer and adds it to their liabilities. In accounting, it will look like this - the business will debit the unpaid amount into their unpaid receivables account within the liability section and credit the amount in accounts receivable.

Here are a few situations when a write-off may be necessary:

A Debt Collector Can't Help – When you need payment, reach out to a debt collector in Michigan first! No matter the age of the debt, RSD is willing to help! They can use skip tracing techniques to find your debtor, contact them, and help negotiate until they pay. If they still haven't paid after their efforts, it may be time to write-off the debt.

Your Debtor has Gone out of Business – As a commercial business, you likely bill your clients as their company name. Once this company doesn't exist anymore, it can be hard to track someone down to receive payment. The chances of collecting from an out-of-business company are low.

The Debt is Too Old – After 6 months, the recovery rate of a debt decreases to 52.1%. After 2 years, it has a 9.3% chance of being collected. If the debt is even older, you may want to consider a write-off.

The Debtor is Bankrupt – After a company has filed for bankruptcy, they'll be liquidating their assets to their creditors. If they owe their creditors more than they're worth, you may end up with nothing or waiting longer than you can afford to receive anything.

Debt Collector in Michigan

Avoid write-offs with the help of a debt collector in Michigan (https://www.rsdcollects.com/debtcollector/commercial/when-to-write-off-debt-collector-michigan)!

Certified by the Commercial Law League of America and endorsed by the International Association of Commercial Collectors, Ross, Stuart & Dawson has the know-how to get you the money you deserve.

Their kind, professional-approach is empathetic yet firm and manufactured for success! Contact RSD today at 888-701-8181 or fill out their contact form (https://www.rsdcollects.com/contact) to get started!

About Ross, Stuart & Dawson, Inc: Located in Clawson, Michigan, RSD is a commercial debt collection agency that focuses on professionalism, kindness, and most importantly, results. RSD operates both domestically and internationally in over 120 countries. Locally they serve Detroit, Grand Rapids, Lansing, the Upper Peninsula, and more. RSD is 1 of 26 agencies considered a "certified agency" by the Commercial Law League of America and is endorsed by the International Association of Commercial Collectors. https://www.rsdcollects.com/contact