Commercial Collections Blog

1. The hardest thing about hiring a commercial collection agency is the timing. For the most part the rule of thumb is 90 days.
2. When the customer has many past due accounts rather than one large one.
3. If and when the customers phone is discontinued, waste no time contact your agency partner.
4. Do not let other delaying tactics such as continually asking for documentation, playing dumb, change of contact person to reset the denials of debt.

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1. Join trade reports, newsletters, and web sites for industry updates
2. Implement a strong Credit Application
3. Create a risk screening process prior to credit initiation, with credit limits
4. Track order and payment history
5. Institute timely notice of past due accounts
6. Know the steps to be initiated when account is past due
7. Set trigger points for past due letter and phone notification
8. Know when to use outside collection agency, time is money
9. Hold future orders and use prepayment until payment is finalized

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