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Collection Agency Rates

FREE COLLECTION ACCOUNT QUOTE

As we all know, it is harder to collect on a past-due balance the older it gets. You can improve the likelihood of collecting a past-due debt by implementing a more aggressive collection policy toward higher-risk accounts. One strategy is to adopt a scoring strategy to make more collection calls per day which will allow you to go deeper into your account base. In turn you can also prioritize high dollar/high risk accounts when allocating collection-department resources. On the other hand, you can turn over these high-risk accounts to the professionals and let a commercial collection agency collect the accounts and maximize your earnings.

Burt & Associates is a SAS-70 Type II certified and compliant Commercial Collection Agency. Please give me a call today to get us working for you.

Regards,

Jerry Curtis
President & CEO

Educational Tidbits For Today’s Credit Executive

The Treasury Department Considers a Revised Plan

The Treasury Department, hoping to address continued drops in home prices and increased foreclosures that are believed to be at the bottom of the current financial debacle, is mulling a new plan that would hopefully push down interest rates for home-purchase loans. The plan would reportedly use Fannie Mae and Freddie Mac to prompt banks to provide loans for as low as 4.5%, a percentage point lower than current rates. Treasury’s hope is that the lower rates would allow borrowers to arrange larger loans, hopefully increasing demand and raising home prices. Treasury has already been working with the Federal Reserve on other measures to bring down mortgage rates, last week announcing that it would buy as much as $600 billion in debt that is either issued or backed up by Fannie and Freddie and other agencies.

The Treasury’s latest idea comes out just as a new report suggested that home-mortgage refinancings could be recovering. The Mortgage Bankers Association said that its index of refinanced applications tripled last week from the week earlier, the sharpest jump in about eighteen years. Still, even given the sharp jump, the number of applications is still lower than it was last spring.

The Credit Manager’s Q&A Corner

QUESTION: List some of the worst accounting sins that a firm can make.

ANSWER: Six of the worst mistakes are: I) recording bogus revenue; ii) boosting one-time gains; iii) shifting current expenses; iv) shifting revenue forward; v) improperly recording liabilities; and vi) shifting special charges.

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