Commercial Collections Blog

When accounts order and do not pay but are accessible and try to find a way to get their debt paid by a workout plan then you will feel better about extending credit in the future.

When the account does not pay and runs and hides or disputes a good invoice then the account is just trying to steal your products.

When you hire a professional debt collector to force the issue and get your money while you can before their bills pile up and you are at the end of the line.

Technorati Tags Bad Debt, business, collection, commercial, debt, letters, risk

• Experience  Experience  Experience
• Credentials:  SAS 70 Type II,  Law League Member,  Bonded,  member B.B.B., Rated by DnB
• Management Team
• Collection techniques of all varieties to meet the needs of the clients, software tools for reports on line
• Disputed account management, Mediation team
• Infield Collections Team
• Risk Assessment tool to profile existing and new accounts

Technorati Tags agency, Bad Debt, collection, commercial, disputed, letters

Keeping your bottom line solid is more  important to you than allowing those few non paying customers to stay on the books.

Cash allows you to keep your employees and business operating not hanging on to broken promises from a couple of bad apples in your customer list.

Use the extra cash you collect to install a better credit policy.

Be cautious with new and older customers, set limits and be prepared for difficult collection efforts, by your staff or by your selected outside collection agency.

Choose yourcommercial debt collection agency before the problem arises and get them involved earlier than you have in the past, the collection wars are under way.

Technorati Tags Add new tag, agency, Bad Debt, business, cash, collection, commercial, debt, receivables

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

Technorati Tags accounts, Add new tag, agency, Bad Debt, business, collection, commercial, debt, policies, receivables

With another month gone, the cold weather is fast approaching, and so is the end of the year. when the financial finance and accounting, the bad debt is the portion of receivables that can not be collected, usually from accounts receivable or loans. At the end of the year you will not want to be left with remaining outstanding receivables, you will want them collected. Give the professionals at Burt and Associates a call and we will get those receivable collected before the holidays arrive.

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

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Educational Tidbits For Today’s Credit Executive

A Few Ways to Protect Your Company’s Trade Receivables

In these uncertain economic times, it has never been more important to protect your company’s assets. One of those assets is trade receivables. Whether growing your firm internationally or just protecting your AR, there are a number of ways to make certain those receivables are handled efficiently. Irrevocable or even standby letters of credit certainly are a few ways to reduce the chances of not getting paid according to terms. Making certain your collection practices, and that means followup policies, are carried out in a timely manner certainly will reduce your company’s DSO. Obtaining credit insurance is a great way to protect your receivables as well. And of course, developing a sound relationship with a bonded and reliable third-party collection service is almost a necessity in today’s economic times.

The Credit Manager’s Q&A Corner

QUESTION: Explain the first creditors’ meeting in a bankruptcy case as a discovery device.

ANSWER: After a company files for bankruptcy protection, the first chance that creditors get to ask questions of the debtor under oath is at the creditors’ 341 meeting. This meeting takes place between twenty and forty days after the filing and the debtor’s presence at the meeting is mandatory. Creditors then have wide scope for asking questions, which can be about the debtor’s assets and liabilities or any issue that could affect the administration of the estate or other matters.

Technorati Tags ACCOUNTS RECEIVABLES, Bad Debt