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The Bao Lyon Group, LLC Is it recoverable?
A survey reveals that the longer an account remains delinquent, the lower the probability of a full recovery.
Survey results indicate a sharp decline in the likelihood of fully recovering a delinquent receivable as the period of delinquency increases.
Survey results indicate a sharp decline in the likelihood of fully recovering a delinquent receivable as the period of delinquency increases.
Time: The general rule that the longer a debt is outstanding, the harder it is to collect, remains true.
Type of debt: The kind of debt plays a significant role in recovery. For example, B2B debts generally have higher recovery rates (30–70%)* than consumer debts, while medical debt is notoriously difficult to recover (15–25%).*
Industry statistics: Broader industry averages also differ from the figures cited. Recent reports show average collection success rates ranging from 11% to 19%.*
Collection strategies: The methods used for collection also impact the success rate. Agencies that use advanced tools like skip tracing and credit reporting tend to have higher recovery rates. For accounts under 90 days past due, early and consistent follow-up is more likely to yield payment.
Economic conditions: Broader economic conditions can affect recovery rates. Default recovery rates are known to be volatile and cyclical.
Type of debt: The kind of debt plays a significant role in recovery. For example, B2B debts generally have higher recovery rates (30–70%)* than consumer debts, while medical debt is notoriously difficult to recover (15–25%).*
Industry statistics: Broader industry averages also differ from the figures cited. Recent reports show average collection success rates ranging from 11% to 19%.*
Collection strategies: The methods used for collection also impact the success rate. Agencies that use advanced tools like skip tracing and credit reporting tend to have higher recovery rates. For accounts under 90 days past due, early and consistent follow-up is more likely to yield payment.
Economic conditions: Broader economic conditions can affect recovery rates. Default recovery rates are known to be volatile and cyclical.
Since industries and international markets do not perform uniformly, it is critical for your organization to have access to experienced professionals who can recommend a proactive plan of action.
Studies confirm that proactively managing accounts receivable is crucial. Allowing delinquent accounts to age severely impacts your company's liquidity and consumes valuable management and staff time that could be dedicated to more productive tasks. Businesses must adopt a firm approach to past-due receivables and seek expert guidance when internal efforts prove insufficient. Contact us today for a complimentary evaluation of your situation.
*To accurately reflect regional differences, the percentile data will differ depending on the customer's geographical location; the project methodology will be tailored to the unique demands.
*To accurately reflect regional differences, the percentile data will differ depending on the customer's geographical location; the project methodology will be tailored to the unique demands.
How recoverable is your money?
- At 30 Days is estimated to be 94% recoverable = ¢ .94 of every US Dollar
- At 60 Days is estimated to be 85% recoverable = ¢ .85 of every US Dollar
- At 90 Days is estimated to be 74% recoverable = ¢ .74 of every US Dollar
- At 180 Days is estimated to be 58% recoverable = ¢ .58 of every US Dollar
- At 270 Days is estimated to be 43% recoverable = ¢ .43 of every US Dollar
- At 360 Days is estimated to be 27% recoverable = ¢ .27 of every US Dollar
- At 720 Days is estimated to be 14% recoverable = ¢ .14 of every US Dollar
The "statute of limitations" factor
A statute of limitations is a law that establishes a maximum time frame for initiating legal proceedings after a damage or injury has occurred. Key aspects include:
- Varies by case: The specific time limit is not universal but depends on the type of legal action.
- Dual purpose: Rooted in early Roman law, these statutes serve two primary goals:
- Promote timely action: They encourage parties to pursue their cases promptly, when evidence is fresh and reliable.
- Prevent unfair claims: They protect potential defendants from fraudulent or "stale" claims that arise long after evidence and witness recollections have faded.
- Applies broadly: Statutes of limitations are a fundamental principle in European and U.S. law, applicable to both civil and criminal cases.
*The world rules and regulations are in a constant change. The statute of limitations may change in countries due to law updates, modifications and government political influence. Those changes might not be reflected immediately in the global description provided.
This summary of International Statute of Limitation laws has been researched with the assistance of our local listees in each country. Laws change and we suggest that you verify this information for yourself. Always consult with a local listed law firm. THE BAO LYON GROUP, LLC. DISCLAIMS ANY LIABILITY FOR DIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES RESULTING FROM RELIANCE OF THIS INFORMATION BY ANY PARTY WHATSOEVER UPON THE LEGALITY AND ACCURACY OF THE CONTENTS THEREOF.
Expertise / Compliance / Support
Project Handling
Providing effective management for domestic or international projects. Assistance is offered through every phase, from planning to execution, with the use of monitoring tools to aid in achieving project goals. The Bao Lyon Group, LLC also offers support for market expansion, with knowledge of relevant rules, standards, and regulations.
International Receivables Support
Growing your company internationally is a complex endeavor. We act as your expert partner, providing the deep market analysis necessary to understand risks and inform your investment in new markets. Our international experience becomes your competitive advantage. Schedule a free accounts assessment to see how we can help.
Import / Export Management
Your international growth partner for end-to-end commercialization. For manufacturers seeking to commercialize their products internationally, we offer expert brokerage to secure new markets, clients, and supply chain partners. We facilitate the export/import process and provide ongoing transaction monitoring to ensure timely payment, protecting your investment and optimizing cash flow. We are here to support your expansion.
Mergers & Acquisitions / Mining & Exploration
Tailored Solutions: The Bao Lyon Group, LLC can assist your team through the merger process, whether it's a small, medium, or large scale transaction. We develop options specifically suited to your needs.Specialized Expertise: For companies in the Mining and Exploration sector, we offer a specialized Research & Development team.
Call for Details: Contact us to discuss your plans and learn how we can help achieve your M&A goals.
