Commercial Collections Blog

1. Which Commercial Collection Agency collects your money in the shortest period of time?
2. What are financial costs of each approach?
3. Do you have the right person for very tough collections?
4. Do you need your staff fully dedicated to new overdue claims or does your staff have the extra time for this type of account?

Technorati Tags agency, business, commercial, recovery

When your past due accounts offer to settle the claim for 25% does the account want to give you back 75% of your goods or services? Of course not, this  is time to get all your invoice paid.  Setting a president of low settlements does not help you collect  next time and puts you at risk with this company over and over again.

When you need your cash stay commited to full collections and do not let the emotion of getting a settlement cloud your judgement.

Technorati Tags agency, business, collection, commercial, recovery

• It is more difficult in todays business environment to have business debts collected than ever before.
• It takes resources away from new account billing and collections.
• It may be cost justified by a true cost analysis based on fully burdened internal costs and the external cost.
• It may be of equal cost but the money may come in sooner resulting in better cash flow.
• You may get savings from the change and your freed up staff can get in touch with all the newer delinquent accounts and not let them slide into the not collectable code.

Technorati Tags business, collection, commercial, debt, recovery

Todays economy makes current financial  information for each customer a necessary component of credit  risk  management. When a customer begins to pay slowly or not at all you need an immediate update on their financial condition. The deterioration of financials  can be extremely fast today. Do not wait to get reports on your customers and act on the information. Waiting to pursue collections can put you at he back of a long list and even put your claim into a bankrutpcy situation. Debt management needs to be assertive, constant and unbiased towards all of your accounts. Burt and Associates will risk score your accounts using a propritarty Burt Risk Scoring System that will give you the odds of collection based on factors that we have learned over the last 30 years in the commercial debt collection business. Your sucesses will increase and your cash flow will increase.

Technorati Tags Bad Debt, business, collection, commercial, receivables, recovery

When new sales are a bit flat and your cash flow is tight you can improve your cash situation with a harvest of your past due accounts. A review of all delinquent accounts is always a surprise and a bit of a downer. There are always accounts receivables on the list that you see as some of your best customers and also some new accounts as well. The decision to press harder on the accounts is a sales issue and a cash issue at the same time. The correct answer is hard to come by unless your credit policy is tight and uniform. Treat all your customers with respect and follow your own credit policies without exception.

Contact all you past due accounts and stay in touch weekly until their account is up to date. Some accounts will need to be put on credit management awaiting payment and you should have your limits in place so that the decision is relatiely easy. Do not wait forever to get your commercial collection agency involved because collection is their expertise and you can stay fixed on the newer past due accounts

Technorati Tags agency, Bad Debt, business, collection, commercial, debt, receivables, recovery

When your accounts receivables grow, your profits suffer, your cash flow is strained, your patience wears thin and you need cash, go to the source of your problems. The growing accounts receivables is the issue of the day. Allowing  a few customers to fall way behind and just not pay, will cause a much deeper problem and cause your business to suffer damage. The process of debt collection is one of a precise plan and understanding of the debts and the debtor involved. After the original futile trials of collection, go to the professional debt collectoion agency for assistance, they can get your cash in the door and put you back in a positve cash flow direction.

Technorati Tags Bad Debt, business, receivables, recovery

• Is your days sales outstanding growing and what are the contributing factors?
• Are your mature accounts not paying at the same rate as before?
• Are you noticing debt piling up on your newer accounts?
• Do your sales people cry that your credit terms are to strict?
• Are you more concerned with your bad debt accounts or your new sales accounts?
• Does your management team now call you about your DSO.
• Are you ready to look for outside assistance for your accounts receivables?
• These are all points of concern that will lead you to a commercial debt collection partner.

Technorati Tags agency, Bad Debt, commercial, debt, receivables, recovery

The most obvious choice of what account to turn over to a commercial debt collection agency is the oldest  account with the most bad debt.   However the account that is just past 30 days may be the best account to place if they go bankrupt while you wait and while you are chasing the very old accounts. You must do risk analysis on all accounts at 30, 60,90,120, days to keep curent on the accounts to place. Burt Risk Scores can save you time and money.

The goal for reviewing accounts past due is to isolate the accounts who are not going to pay and create a program that forces the issue with that account. Waiting for the demand calls and letters to work on this type of account will get you nowhere and produce nothing tangible, as in cash. Call Burt Collect and get your money.

Technorati Tags Bad Debt, cash, commercial, debt, receivables, recovery

• If you wait too long it can be 100%
• If you wait too long you may not find a company to collect from
• % of collection is as important as collection fee %
• Time is money
• Cash is king
• Protect your investment, get your money so that you can pay your own bills
• Get collection help on the most difficult accounts
• Be aggressive early waiting is not good in this business environment 

Technorati Tags collection, commercial, receivables, recovery

• Letters are not effective when they wind up in the trash.
• Phone calls don’t work when the account does not answer.
• E-mail doesn’t work when it is not read, is ignored, or goes into spam.
• Waiting is not an option.
• The infield collector will get his foot in the door and get a real discussion started, pushing all issues to front and center. The account will not be able to dodge and hide from this pressure.

For help on commercial collection service call us 1-877-740-7839

Technorati Tags Bad Debt, business, collection, commercial, recovery