Category Archives: Collection Tools

How to collect money from difficult people, while keeping your cool

Collecting money is a job most people shy away from, no one likes a confrontation.  For some being asked to pay a bill is insulting and they take offense, resulting in them becoming defensive when you bring up the subject.  … Continue reading

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Posted in Being a Great Collector, Collection Calls, Collection Tools, Complaints, Customer Service, Economic Crisis, Excuses, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Heard on the Street..., Helping Debtors, Know your Debtors, Recession | Tagged , , , , , , | Leave a comment

Tips from the Trenches: Get Your Clients to Pay Up

Meryl Evans at Web Worker Daily asks, “Do you worry about chasing down payments because you don’t want to get into a touchy situation with your clients? Just because the client hasn’t paid in a timely manner doesn’t mean you … Continue reading

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Posted in Being a Great Collector, Collection Calls, Collection Letters, Collection Tools, Collections for Creditors, Credit Crisis, Economic Crisis, Getting Paid - Michelle Dunn - Business Finance Columni, Know your Debtors, Payment Plans, Scripts, Social Networks, The Life of a Bill Collector | Tagged , , , , , , | Leave a comment

Top 9 things you should NEVER do when using social networking sites to help you collect from a past due customer

Never converse with a debtor using social media sites, utilizing the email feature or comment feature. Do not email a debtor about a debt if you think a third party can ever see that email. Do not instant message a … Continue reading

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Posted in Collection Tools, Compliance, Online Collection Techniques, Social Networks, The Life of a Bill Collector | Tagged , , , , , , , , , | Leave a comment

What to do when a Tenant is Behind on Rent

Today’s guest post if by Bill Gray, an expert on collecting from past due tenants. When a tenant is behind in rent, when should you call it quits? Today I reviewed over eighty tenant debt accounts and noted that the … Continue reading

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Posted in Bad Checks, Being a Great Collector, Collection Tools, Collections for Landlords, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Guest Blogger! | Tagged , , , , , | Leave a comment

Setting Credit Limits

You have your signed credit applications, you are having your customers fill them out and checking references. Now your stuck. How do you decide how much credit to extend or if you should extend credit to this person? There are … Continue reading

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Posted in Business Credit, Checking credit, Collection Tools, Credit Policy Questions, Credit reports, Excuses, FAQ's, Foreclosure, Marketing | Tagged , , , , | Leave a comment

Improve your A/R with 6 Easy Steps

Some things you can to do improve your cash flow and lower your A/R: Offer discounts Get 50% down Check new customers credit Sell old outdated inventory Issue invoices immediately Follow up right away with slow paying customers

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Posted in Bad Checks, Being a Great Collector, Books, Business Credit, Collection Calls, Collection Letters, Collection Tools, Collections for Creditors, Credit Crisis, Customer Service, Economic Crisis, Recession | Tagged , , , | Leave a comment

Top 7 Debt Collection Tips

Delinquent accounts have always been a part of every business, and now it is an even bigger part of every business and the older the debt becomes, the harder it is to collect. Begin collection efforts immediately once an account … Continue reading

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Posted in Ask Michelle, Being a Great Collector, Business Credit, Collection Calls, Collection Letters, Collection Tools, Collections for Creditors, Credit Policy Questions, Scripts, Skip Tracing, Social Networks, Training | Tagged , , , , , | Leave a comment

What to look for when extending Credit

When you extend credit, you are opening yourself up for risk.  When you do offer credit, you must make some assumptions: That your customer will pay you and has every intention of paying you even after they leave your store … Continue reading

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Posted in Business Credit, Checking credit, Collection Tools, Collections for Creditors, Credit Policy Questions, Credit reports, Customer Service, Economic Crisis, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni | Tagged , , , , , , | Leave a comment

How to Choose a Collection Agency Part 1

How do you know what to look for when you decide to place accounts with a collection agency? It is important to do your homework and learn how to choose an honest and ethical agency. You want to be sure … Continue reading

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Posted in Being a Great Collector, Business Credit, Choosing a Collection Agency, collection agencies, Collection Tools, Collections for Creditors, Collections for Landlords, Credit Policy Questions, Dealing with debt collectors, Economic Crisis, Fair Debt Collection Practices Act, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Laws, The Life of a Bill Collector | Tagged , , , , | Leave a comment