Category Archives: Ask Michelle

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

Getting Paid from a company that moved!

Dear Michelle, We have a customer who we shipped (last year in September) a demo evaluation of a video security system.  After a long period (which was supposed to be just 60 days) he has not returned the demo unit. … Continue reading

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Posted in Ask Michelle, Bad Checks, Bankruptcy, Being a Great Collector, Business Credit, Credit Crisis, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni | Tagged , , , , , , | Leave a comment

Finding new Clients for your Collection Agency

Kaulkin Ginsberg & Inside ARM have started a new feature on their website called “Ask the Expert“. Ask the Experts is an interactive section where readers can ask direct questions to the experts at Kaulkin Ginsberg, the leading strategic advisors … Continue reading

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Posted in Ask Michelle, Customer Service, linkedin, Marketing, Networking, New Technology, Social Networks, Starting a Collection Agency, Training | Tagged , , , , , , | Leave a comment

Paying off a past due balance while ordering more products

Michelle, Since 1995 my husband & I own a small company. Around 2007 we aquired a lot of debt through our vendor who we still currently use. They put us on COD in ’08 while paying what we can (average … Continue reading

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Posted in Ask Michelle, Business Credit, Economic Crisis, FAQ's | 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

Biggest Credit and Collection Mistakes

The biggest mistake business owners make when extending credit is not checking credit or extending credit blindly to anyone who walks in the door. Another big mistake business owners make with credit & collections is not staying up to date … Continue reading

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Posted in Ask Michelle, Being a Great Collector, Business Credit, Collections for Creditors, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Networking | Tagged , , , | Leave a comment

What to do if a payment is late

What should I do if a payment from a customer is late? Immediately stop shipping or providing services until you have a conversation with the customer.  Contgact the customer right away, do not wait. The sooner you contact the customer … Continue reading

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Posted in Ask Michelle, Being a Great Collector, Collection Calls, Collection Letters, Collections for Creditors, Collections for Landlords, Credit Policy Questions | Tagged , , , | Leave a comment

How do I get clients for my collection agency?

Dear Michelle, I was directed to you as a result of looking for ways and steps to start my own collection agency.  I currently live in a city where there is ample opportunity to start someting like this.  I have … Continue reading

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Posted in Ask Michelle, FAQ's, Marketing, Purchasing Debt, Starting a Collection Agency | Tagged , , , , | 5 Comments

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