Category Archives: Know your Debtors

Which clients are most profitable for collection agencies?

Many of my consulting clients as me which types of debt would be the most profitable for my collection agency.  Based on my experience agencies can be more profitable if they collect on some commercial accounts, or specialize in collecting … Continue reading

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Posted in Ask Michelle, Being a Great Collector, collection agencies, Debt Collection in the News, FAQ's, Know your Debtors, Starting a Collection Agency | Tagged | Leave a comment

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

The most successful collectors help their debtors

With the economy still a mess and many consumers still struggling there are some things bill collectors can do to help debtors pay off any debts without causing to much stress.  I recently heard of a company called A New … Continue reading

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Posted in Being a Great Collector, Credit Crisis, Customer Service, Economic Crisis, Heard on the Street..., Helping Debtors, Know your Debtors, Recession | Tagged , , , , , , | 1 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

Crazy Collection Stories

Ah, there are so many!  I once had a debtor that I called about a bill (this was someone I had been calling for months) and her reason for not paying the bill was that she lost her glasses and … Continue reading

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Posted in Ask Michelle, Complaints, Customer Service, Debt Collection in the News, Excuses, FAQ's, Heard on the Street..., Know your Debtors, Random posts | Tagged , , , | Leave a comment

Enforcing your Credit Policy

So you finally have a credit policy written and ready to go! How can you get everyone at your company to follow the policy? This can be harder than writing the policy!  First of all, have a metting and give … Continue reading

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Posted in Business Credit, Checking credit, Credit Policy Questions, Education, FAQ's, Helping Debtors, Know your Debtors, Laws, linkedin | Tagged , , , | Leave a comment

Getting a Handle on Credit Management

Who is “In charge” of your business credit? So many people can’t answer this question! Not a good thing! If you can’t answer this question you need to look around and decide who is going to be in charge of … Continue reading

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Posted in Being a Great Collector, Business Credit, Checking credit, Collections for Creditors, Credit Policy Questions, Credit reports, Customer Service, Education, Excuses, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Know your Debtors, Online Collection Techniques, Online payment options, Payment Plans | Tagged , , , , | Leave a comment

Top 5 Telephone Collection Tips that work!

Richelle Shaw is the country’s only female African American public utility owner.  Richelle has extensive expertise in telephone collections and was generous enough to share some tips that she has used for years to collect on public utilities that have … Continue reading

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Posted in Being a Great Collector, Collection Calls, Complaints, Customer Service, FAQ's, Helping Debtors, Know your Debtors, Online Collection Techniques, Scripts, Telephone Collection Tactics, Text messages | Tagged , , , , | Leave a comment

The Importance of Verifying your Debtor

Verizon recently sent an account to collections and it turns out the debtor was a dog named Andy. This seems so unusual not because of what happened but maybe because Verizon is supposed to be a huge company, with values … Continue reading

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Posted in Being a Great Collector, collection agencies, Collection Calls, Complaints, Compliance, Debt Collection in the News, Fair Debt Collection Practices Act, FAQ's, Know your Debtors, Laws, Skip Tracing | Tagged , , , , , | Leave a comment

Establishing Credit for your Business

Dear Michelle, What is the most expeditious way to establish business credit without the need for a personal guarantee? Thank you! Eric Dear Eric, You should apply for credit under your business name with vendors you are currently working with … Continue reading

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Posted in Ask Michelle, Business Credit, Collections for Creditors, Credit Crisis, Credit Crunch, Customer Service, Dealing with debt collectors, Economic Crisis, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Identity Theft, Improve Your Credit, Know your Debtors | Tagged , , , , | Leave a comment