“Being sent to collections” is a boogie man for businesses as well as for individuals, I learned this week.
I was counseling a small business with lots of vendor debt.
We were looking for a strategy that could keep them in business.
When I suggested that management sort their payables into vendors they needed and wanted to keep, and those they could live without and wouldn’t pay going forward, I heard the familiar refrain: “but they’ll send us to collection!”
Sent to collections
Where is “collections”? What is so bad about a corporation being there? It isn’t painful… [Read more…]