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Displaying Matches 50 thru 64 of 295 Found. BACK NEXT

The Advantages of an Early Collection Letter Over a Dunning Notice
The good news is that our company and customer base is growing rapidly. The bad news is that our company and customer base is growing rapidly. The owner of our company is reluctant to allow me to hire someone to take up the slack. This means that we have to work even harder to control delinquencies. Unfortunately, it became apparent a couple of months ago that we were falling behind when it came to making collection calls to customers. We were prioritizing calls, meaning that larger customers were being called, but certain smaller delinquent accounts were being skipped because of time constraints.

Key measures used by this firm to address their collection challenges. . . . keep reading

Commercial Collection Agency Association Members Continue to Report a Decline in B2B Accounts For Collection
October 28, 2010

In the third quarter of 2010, Commercial Collection Agency Association (CCAA) members reported a decline in the dollar amount of B2B accounts they received for collection of 16.5%, when the third quarter of 2010 is compared to the same quarter in 2009. . . . keep reading

Always Look a Gift Horse in the Mouth
By Mal Goldenberg
I noted a serious decline in a customer's financial condition, and the customer's financial problems became so bad that I stopped open account shipments and requested a letter of credit. My customer said they would not (or could not) provide a letter of credit from their bank but would instead offer us as security or collateral a certificate of deposit with the customer's bank. The salesperson was very insistent that we make this deal.

My concerns were as follows. . . . . . keep reading

A Four-Point Strategy for Collecting Medical Bills
Think you have problems with customers who are not paying you but paying other creditors instead? Then consider the plight of the many credit managers whose job is to collect from medical patients, many of whom have serious illnesses requiring expensive treatment but who have little ability to pay. Collecting on medical bills takes medical knowledge as well as credit know-how. It can also take a lot of patience. The Dakota Clinic LTD (Fargo, N.D.) gets the job done (95% of accounts are collected in full) with a combination of payment plans, monitoring, and follow-up to ensure collection. Read on for details on how they do it. . . . keep reading

Legal Case Study: Does Co-Mingling Two Purchases Negate This PMSI?
This legal case study explores a situation in which a creditor plans to use its purchase money security interest on two purchases made by a creditor. But the creditor believes the PMSI is invalid because he made two purchases and they were mingled together. What's the answer and why? Read on to find out! . . . keep reading

Tips For Collecting From Government Agencies
By Michael Dennis
One of my clients recently asked me for some advice on working with the federal government accounts. Specifically, they had experienced some payment problems with the government and wanted to know what the "tricks" were for getting paid on time by government agencies. . . . keep reading

The Four Types of Responses Collectors Can Expect
New collectors in training at Windham Associates (Fairport, New York) are taught that there are four general types of responses to expect from the debtors they contact. . . . keep reading

Industry leaders establish alliance partnership
Construction industry to directly benefit from Caine & Weiner and BICA's 187 years of combined credit and collection expertise Woodland Hills, CA-- . . . keep reading

Press Release: ACA International Responds to CNN's "Almighty Debt" Program
October 22, 2010
ACA International, the leading voice for debt collection, applauds CNN's "Almighty Debt:" A Black in America program for its insightful look at the financial challenges facing the African American community.

The following is a statement from ACA International Chief Executive Officer Rozanne M. Andersen. . . . keep reading

Six Pointers to More Effective Collections
"Have you been trying to reach me?" Yeah, right! What the delinquent has been trying to do is stay out of your way. But it's a question that puts delinquents on the spot--just the spot where you want them. Why haven't they tried to reach you, and why haven't they paid? It really works for this credit veteran.

As vice president for credit at MJB & Associates (Fargo, N.D.,) William K. Blixt is responsible for collections for a total of eight companies, including Western Products and EMCO Building Products. The activities of these companies range from home improvement (from siding, gutters and windows to spas, pool tables and fire¬places, and also providing financing for some of these projects) to machining for auto companies and handling rental properties. Each company has its own credit terms and pricing tiers, and customers range from wholesalers to homeowners. All of this means that Blixt has to be both adaptable and creative.

"You have to treat each group of customers differently," he says. "I shift gears many times a day depending on the group of customers I'm talking to." But as many times as he may shift gears, he is careful to keep six principles in mind . . .

How his first principle puts him ahead of the pack when people are deciding who to pay
A simple trick you can easily implement that helps him get customers' attention
His secret phrase to allow him to be aggressive, but still respectful, when tracking down hard-to-reach customers
Ways he keeps his collection expenses down

. . . keep reading

Collecting From Customers in Trouble
"When customers are in trouble, they're usually embarrassed," says Debra L. Whitfill, CCE, corporate credit manager for Arizona Refrigeration Supplies Inc. (Phoenix). "They don't want to initiate a call to the credit department to discuss their problems. In addition, their self-esteem as businesspeople is often low. This adds to the pressures they're feeling."

Furthermore, while many of these customers feel they might be able to make payments over a period of time, few feel comfortable taking the initiative to contact the credit department to suggest such an idea. "If they can't pay the whole amount immediately, they don't think there are any other alternatives," she explains.

Learn: the three goals goals Debra has when she visits with a distressed customer; specific examples of payment alternatives she offers her customers; how she counsels customers; and the positive results - from both a financial and customer service perspective - from her approach. . . . keep reading

Collecting For Collections
Garbage can be a delicate subject when it comes to credit and collection. While customers have a choice among trash removal services--and competition is keen--they have no choice about having their debris picked up and taken away. City, county and health officials will step in with orders and fines. Even so, there are the slow-pays and the no-pays that must be dealt with. This article covers: What credit steps are taken when they signup customers; what the collection protocol they use for delinquent customers; how they handle those who didn't pay when they try to come back to Waste Management; handling language barriers; the differences on commercial accounts. . . . keep reading

Second Notice? Call Instead
"If you're spending time preparing second notices only to have them end up in someone's circular file, it's time to consider other collection methods," suggests the manager for a Virginia dental consultant group. Her people advise clients to forget second notices and call instead. In her experience, collection problems are usually caused by any or all of the following reasons. This article details the five ways this office manages a first rate collection operation. . . . keep reading

Case Study: Is This Law Firm in Violation of the Fair Debt Collection Practices Act Because of the Way it is Mass Producing Collection Letters?
This case study examines a situation in which a debtor complains that letters he's received from a collection law firm are in violation of the FDCPA because the signature of the partner at the bottom were generated automatically, and not signed personally. He also took issue with some of the language in the letters. Read on to see if he has a case! . . . keep reading

Flimsy Excuses
"There was a dead cat in the mailbox, so I couldn't send my check." If there is ever a contest for the most outrageous excuse for non-payment, Laura Pepper, director of corporate credit for Valspar Corp., should win, hands down, for her "dead cat in the mailbox" entry. . . . keep reading

Displaying Matches 50 thru 64 of 295 Found BACK NEXT

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