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home | Collection Tips | Collection Tips Archives

Collection Tips continued

Displaying Matches 32 thru 46 of 100 Found. BACK NEXT

The Doctrine of Necessities
"You have absolutely nothing to worry about," Sharon Green told Earnest Miller impatiently. "Mrs. Green," Earnest replied, "I think $1,700 is quite . . . keep reading

How to Overcome Five Common Obstacles to Getting Paid
Bad debtors often have a method to their badness. Once you figure out what it is, you can get them to reform their ways and pay your company on time. Here are five types of late-paying customers--and some strategies for getting them to speed up payment. . . . keep reading

Improve Your Chances of Finding "Missing" Debtors
To the uninitiated, "skip tracing" may sound like an exciting adventure, complete with exotic locales, fast cars, and dangerous liaisons. But credit staffers know all too well that trying to locate skipped accounts has all the glamour of sorting socks.

That doesn't mean that chasing skips is without its rewards. After all, hauling in a "missing" debtor gives you the opportunity to recover what's owed your company--which is good for the bottom line and good for your career. Here are some suggestions for getting information that can help you locate skipped accounts:

. . . keep reading

How to Make Your First Call to a Debtor Your Last
Without question, the first phone call to a past-due credit customer is the most important. An inept presentation at this point usually results in an indifferent response from the customer--or none at all. Both spell disaster for the credit staffer trying to collect. If you want to improve your chances of getting payment with the first call, follow these guidelines. . . . keep reading

Consumers May Be Wary of Giving Account Numbers
Creditors who rely on using demand drafts to debit consumers' accounts may find it more difficult to get consumers to release their checking account n . . . keep reading

Dangerous Ground--Using the 1099-C to Collect Debts
Some collection experts have suggested that the IRS form 1099-C is a good way to convince consumers to pay their debts. The idea is that the creditor will write off the debt and will report the write-off to the IRS, and then the debtor will have to pay taxes on the debt. However, using this technique could get you in legal trouble. . . . keep reading

FDCPA -- Collecting From Consumers At Work
The Fair Debt Collection Practices Act has been in effect for over 15 years, so you would think most collectors would be doing it all by the book, rig . . . keep reading

The W-4 - A Source for Debt Payments?
Most consumers know that they can avoid owing taxes each April 15 by adjusting their W-4 form. By adjusting their withholding, most consumers can ensu . . . keep reading

The Whimpy Syndrome
By Lynn Van Berkel CCP, CPC, April 2010

I have always equated the process of credit and collection with Whimpy's line from the Popeye cartoon, "I'll gladly pay you Tuesday for a burger I can have today." Whether it is food, auto parts, or plumbing and heating supplies, the challenges of handling accounts receivable are the same. As sure as Tuesday will come, the payments do not always follow. And in this economy, even if customers are willing to pay, they are facing challenges of their own. . . . keep reading

Encourage Customers to Call You When They're Late
By Larry Canada
When customers are past due, one of the first things that goes through their minds is, "I hope my suppliers don't call!" While this is true of some . . . keep reading

Problems Collecting NSF Checks
NSF checks from your customers are not always a cause for alarm. Certainly, they may be the sign of a serious problem, but quite often they are nothing more than the result of administrative errors (e.g., failure to transfer money to the right account). Contact the customer, politely explain the problem, add that you understand it may have been an error, and ask for a cash or certified check payment within one or two days. If this does not solve your problem, though, you may need to take additional action. Some recommendations that work for us . . . keep reading

Keys to Collections
The successful collection process is much like the successful sales process. There are four steps in each: Identify the decision maker. Determin . . . keep reading

Aggressive Collections Net Impressive Results
Less than two accounts per thousand ever become bad debts at Thermo-Industries, Inc. (Raleigh, North Carolina), and Credit Manager John Clark, CCE, an . . . keep reading

13 Strategies to Speed up Collections... Before the Money is Due
Mar-30-2010, By Loral A. Narayanan
Everyone doing business knows that a sale isn't a sale until the cash is in your bank account. Getting it there when you need it, however, can be a real challenge. Most companies wait until an invoice is past due before taking action. But why not be pro active? Here are some strategies you can use before the account is due, that can help you speed up your collections. . . . keep reading

Progressive Collections
"I start out positive, and I never give up," says Joanne Swyers, CCE, corporate credit manager for Miller Paint Company (Portland, Oregon), "I have an . . . keep reading

Displaying Matches 32 thru 46 of 100 Found BACK NEXT

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