Commercial Collections Blog

1. The client is just running from you as fast as he can and the traditional methods of getting paid just are not enough to get you paid.
2. The phone is turned off and the mail comes back to you and the email is rejected, that is not the end of the line for Burt and Associates
3. You can do a  credit review and spend more time and money and still not be able to contact the customer. We will find the account and get your money.

Technorati Tags agency, collection, commercial, debt, letters, receivables, writing

• 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

• The customer  who is behind on payments today has many outstanding claims with many vendors
• The vendor who relies on the mail service to get to the head of the  payment line is left off the payment cycle
• The account will only pay those who continually push the point without a pause between contact and payment
• The game that the account plays is usually hide and stall and the strongest get paid but not without great effort
• A commercial collection agency will get past the stories, denials, reasons  and force the issue with infield collectors that get real results- - -fast

Technorati Tags agency, business, collection, commercial, debt, letters

1. Get a review of the financial condition of the new customer as a part of your credit policy
2. Use your Commercial Debt Collection Agency to run a Risk Analysis so that you will have the basis of risk prior to opening a new account
3. Partner with an Agency to assist with your credit policy and when the customer does not pay use your partner collection agency to get your collection completed

Technorati Tags agency, collection, commercial, credit, debt, policy, risk

1. Unfairly identifying accounts as disputed is a tactic to get rid of outside collection agencies and slow down the collection process
2. Get the debtor to put in writing the exact dispute with proof, if the information is not made available proceed with the collection process
3. Contact your favorite agency and the account will be put on notice that their time of non payment is over

Technorati Tags agency, collection, commercial, debt, disputed, unfair, writing

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. Review debtor orders, payment history, communications,current status,ability to make contact,effort being made by customer, risk assessment
2. Review staff efforts, review all potential tracks to be followed, be demanding and do not back down, set date to be paid or change course
3. Move the debt to a professional debt collection agency, you are being victimized by a professional non payer and you need help

Technorati Tags Add new tag, agency, cash, collection, commercial, debt, receivables, recovery, risk

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.

Technorati Tags Add new tag, agency, business, collection, 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