These Debt Recovery Solutions Provide Firm Financial Footing during Coronavirus Pandemic
It may feel like a lifetime, but it was actually only 60 to 90 days ago when America was able to boast stellar Gross Domestic Product (GDP) growth and the lowest unemployment rate in decades. COVID-19 changed all that. News articles from January 2020 now read like a bad joke. “Fears of a recession have abated and businesses are confident about the health of the US economy,” according to a CNN Business post, which adds that “record low unemployment and strong consumer confidence” was backed up by salary growth. So much for that.. The entire economy, top to bottom has been negatively affected. Whether its tenant’s who can’t afford to make rent or a business withholding payment from its vendors, expert guidance on how to collect your money has never been so critical.
The world has been turned on its head, but that doesn’t negate contracts and previously arranged agreements. If you’re looking for debt recovery solutions in these turbulent times , it’s time to get help from proven experts in this industry. The full-service debt recovery programs provided by HF Holdings, Inc. are needed now perhaps more than ever.
Below, we’ll share three reasons why hiring a debt collector to settle outstanding payments is a sound financial decision during the corona virus pandemic.
Contractual obligations: Liquidity is nice when you can count on a regular influx of cash. State-mandated shutdowns of entire industries across the country has dried up that liquidity resulting in cash-strapped businesses and individuals which has lead to a significant increase in defaults. . The same goes for invoices for goods and services sent to companies you dealt with regularly. It’s only fair that your company be reimbursed for funds or services it extended — and a health crisis doesn’t change that.
Balance the Books: Some corporate partnerships may be worth putting on pause until the economy sees a full-scale re-start. Before that happens, debt recovery solutions from HF Holdings, Inc. can help you collect on commercial debts so that your financials are more stable moving forward.. A thorough investigation of corporate officers, identification of company assets and the high caliber of business to business collectors will all be in your corner when you retain HF Holdings, Inc.
Cutting through Excuses: Owners of residential properties provide an essential service in this country – giving people a place to live. While there are proper channels to address income issues and being able to fully pay rent — especially during the coronavirus pandemic — some tenants will simply stop paying without any sort of notification. Landlords have a mortgage to pay, too, and rent money immediately goes to the loan lender. If your renters are late on payments or problematic for any variety of reasons, let HF Holdings, Inc perform the debt recovery work. Through daily phone calls, credit reporting and possible legal action, we can get you money owed and you can focus on finding a new renter.