Monthly Archives: August 2008

Getting Paid – Michelle Dunn – Business Finance Columnist

Hi, Michelle- We have a slow paying client who is blaming an Angel investor death for their tardiness in payment. This client is 5 months late on their bill and it’s a rather large bill. (I could buy a car … Continue reading

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Posted in Ask Michelle, Collections for Creditors, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni | 1 Comment

Sample credit policy

A credit policy that is too liberal will attract slow paying customers and reduce accounts receivable turnover. The primary goal of a policy is to avoid extending credit to customers who are unable to pay their bills. Policies contain specific … Continue reading

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Posted in Collections for Creditors, Credit Policy Questions | Leave a comment

Your account will be reported to the Credit Bureaus

Michelle, Would sending the “final opportunity” letter and/or the letter stating the account has been reported be considered advising the debtor that we are pursuing other “remedies?” Am I correct in my understanding that this is not a violation of the FDCPA? … Continue reading

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Posted in Ask Michelle, Education, Fair Debt Collection Practices Act, Getting Paid - Michelle Dunn - Business Finance Columni, Starting a Collection Agency | Leave a comment

Return Address on Envelopes

Michelle, My company is Collection Results Inc. which of course is printed on the envelope as a return address.  I have not had an issue in 3 1/2 years with this, however I don’t want any issue in the future … Continue reading

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Posted in Ask Michelle, Getting Paid - Michelle Dunn - Business Finance Columni, Starting a Collection Agency, Training | 1 Comment

One-person show- needs helps collecting

Michelle, How do I get my clients to pay me on time. I’m an Inspirational Speaker & Life Coach. I’m a one-person operation and often have trouble collecting the balance on work done for my clients. Spending my time chasing clients … Continue reading

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Posted in Ask Michelle, Collections for Creditors, Credit Policy Questions, Getting Paid - Michelle Dunn - Business Finance Columni | Leave a comment

Dealing with the Economy

Kagan and her husband, Dan, try to make a game of their tightening budget, seeing just how much they can save, “so that it’s not too depressing,” she says. One bright spot: Dan’s in a profession that’s doing well these … Continue reading

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Posted in Credit Crisis, Debt Collection in the News, Economic Crisis, The Life of a Bill Collector | Leave a comment

Just who is a debtor?

John McCain compares Barack Obama to a celebrity like Britney Spears or Paris Hilton. Would you ever compare a debtor you call to a celebrity? It was interesting to find out just how many celebrities are either in debt, filing … Continue reading

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Posted in Economic Crisis, Random posts | Leave a comment

Now that the Rain has stopped, don’t let your Business Drown in Bad Debt!

We have had an unusual amount of rain this year followed by hotter than normal temperatures here in New Hampshire. Normally we don’t notice the rain or heat unless they directly affect us or are unusual, like this season. This … Continue reading

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Getting Paid

Dear Michelle, Since the economic downturn, collecting past due invoices has become increasingly difficult.  It is requiring far too much of our time to chase down payments from clients with delinquent accounts.  We’d like to begin employing the help of … Continue reading

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Posted in Ask Michelle, Economic Crisis, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni | Leave a comment

Credit Money – the definition

According to Wikipedia, the free encyclopedia, the definition of Credit Money is any claim against a physical or legal person that can be used for the purchase of goods and services. Credit money differs from commodity and fiat money in … Continue reading

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Posted in Economic Crisis, Recession | Leave a comment