Monthly Archives: June 2010

Guidelines & Laws for Collectors regarding Technology

Communicating with your customers or debtors is not a single communication effort, in order for any of your efforts to work you need to use a multi-communication strategy that works for your business, your customers and follows the law, online … Continue reading

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Which type of communication works best for collecting money?

I recently had a collector email me asking me what the law is on emailing debtors regarding overdue accounts.  They say many of their clients have given them email addresses, but they aren’t sure if they can legally communicate this … Continue reading

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What to avoid when contacting debtors using social media

When you use a social networking site to locate a debtor, to then try to collect from them by phone, or mail, there normally won’t be a problem.  The problems arise when someone contacts a debtor through one of these … Continue reading

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What technology can collectors use to contact a debtor?

A collector can utilize social networking sites to locate or find a debtor; get a mailing address or employment information in order to enforce any in-house collections by traditional means, which would be postal mail or phone calls.  With a … Continue reading

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How Social Media helps & hurts Collectors

Social media can help and hurt a collector in contacting debtors.  In my opinion, until the laws are changed a collector, third or first party, should NOT contact a debtor through social media email functions or comments.  This could be … Continue reading

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How collectors can use Social Media to their advantage

By using social networking sites to locate or find a debtor or to get a mailing address or employment information in order to enforce any in-house collections are some ways collectors can use social media.  With a place of employment … Continue reading

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How technology changed business for collectors & the challenges they face

In my experience, technology continues to change the debt collection industry by solving problems, enhancing debt collection processes and automating functions.  Most technology strives to make processes more cost effective and efficient, the internet and online technology has forced collectors … Continue reading

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Posted in Ask Michelle, Being a Great Collector, Books, Collection Tools, linkedin, Online Collection Techniques, Social Networks, Text messages | Tagged , , | Leave a comment

Take control of your Cash Flow!

The success of your business depends on how you handle customers, employees, products and, most importantly, your cash flow. While the economy makes its slow road to recovery–and continues to nose dive in certain communities–business owners suddenly find themselves making … Continue reading

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Facts about Bill Collectors

Bill Collectors.  Bottom Feeders. Harrassing people.  Just some of the names people call debt collectors or business owners who call them about the money they are owed. Interesting to me because if I buy something from you and then don’t … Continue reading

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Posted in Business Credit, Honesty & Integrity, The Life of a Bill Collector | Tagged , , , | 2 Comments

Are your customers destroying your cash flow? 5 ways to stop them now.

Are you frustrated by your bottom line in this bad economy?  Looking for ways to increase your cash flow and limit your credit risk? If you have customers that owe you money and aren’t paying you on time, they are … Continue reading

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Posted in Business Credit, Collections for Creditors, Credit Crisis, Economic Crisis, FAQ's | Tagged , , , | Leave a comment