Tag Archives: debt collection

Top 5 Don’ts for Online Debt Collections

Emailing debtors about a debt Instant messaging a debtor about a debt Initiating more payments on a bank account when additional transactions have not been authorized. Sending debt collection emails, faxes or text messages Don’t send a “friend request” to … Continue reading

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Posted in Being a Great Collector, Compliance, Online Collection Techniques, Social Networks | 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

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

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

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

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

Top 5 Tips for Starting a Collection Agency

One of the newer members of my Credit & Collections Association asked the group for tips or help with starting a new collection agency.  John Fahrlender from Greenberg,Grant & Richards and a member of my association had some great tips … Continue reading

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Posted in collection agencies, Education, Fair Debt Collection Practices Act, FAQ's, Licensing, linkedin, Networking, Professional Associations, Software, Starting a Collection Agency, The Life of a Bill Collector, Working at a Collection Agency, Working from Home | Tagged , , , , , , | 1 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

What to do when your Customer’s Don’t Pay

“Persistence is key,” said Michelle Dunn, an expert on collections and the author of the Ultimate Credit and Collections Handbook. “I would put a deadline on when you want to get paid.” Learn more about the best practices and increase … Continue reading

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Posted in Being a Great Collector, Collection Tools, Collections for Creditors, Credit Crisis, Credit Policy Questions, Economic Crisis, FAQ's, Recession | Tagged , , , , , , | Leave a comment

Starting a Collection Agency?

I wanted to remind anyone looking for more information on starting a collection agency that I have a podcast titled Starting a Collection Agency.  It can be very helpful to you if you are just starting out and have questions, … Continue reading

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Posted in Debt Collection in the News, FAQ's, Networking, New Technology, Paying Collectors, Professional Associations, Purchasing Debt, Starting a Collection Agency, The Life of a Bill Collector, Training, Working at a Collection Agency, Working from Home | Tagged , , , | Leave a comment