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Home::Finance

Collecting Past Due Accounts

Author : Cheryl E. Cook

What do you gain by winning a lottery sized settlement with a bankrupt company? 

This is your cash flow situation when you allow your accounts receivable to grow. Getting the sale is wonderful, but collecting payment is the key to positive cash flow.  Follow your credit policy with all clients. Don't assume that because your contact is a nice person that you'll get paid. Your contact may not control the purse strings of the company.  Any special agreements with the company must be in writing. Should your contact leave the company, there would be no memory of any special agreement you may have made for payment. Just as you reconfirm flights and accomodations for an important trip, leave nothing to chance when it comes to collecting your past due accounts, if you want a positive cash flow.


Cheryl Cook works to develop business relationships where her experience, knowledge, and ideas can help improve the small business owner’s cash flow. As the Executive Director of Pro Money Inc., Cheryl conducts workshops with the Chamber of Commerce and teaches adult education classes on topics related to cash flow. Cheryl publishes an ezine every other week titled http://www.promoneyinc.com">“Cash Flow Tips for Your Business.”

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Repair Bad Credit Due To Collection Accounts
In many cases up to thirty percent of your past due debt will be collected after just one letter. Go after letters that indicate the past debt will be reported to one of the credit bureaus will also be relatively influential. ...

How will I know if I should use a Collection Agency Service?
Not only is a well established Collection Agency successful in collecting your past due accounts, but once the accounts have been collected the customer that was avoiding you may very well come back into your company to do business with ...

How will I know if I should use a Collection Agency Service?
Not only will an established Collection Agency be successful in collecting your past due accounts, but once the accounts have been collected the customer that was avoiding you, most likely, will come back into your company to do ...

How will I know if I should use a Collection Agency Service?
Are your employees spending more time trying to collect past due accounts than they are doing the job you hired them to do? This is where a Collection Agency can really help your bottom line. A Collection Agency that has experienced ...

Collecting Past Due Accounts
... your contact is a nice person that you'll get paid. Just as you reconfirm flights and accomodations for an important trip, leave nothing to chance when it comes to collecting your past due accounts, if you want a positive cash flow.

10 Tips to help collect past due accounts
Ten Tips on how to collect debt:. PREPARE: Review the paperwork on the debtor before making the call. Know the history of the account, credit record, the promises kept/broken. Have all records in front of you, ready for reference. ...

10 Tips to help collect past due accounts
by JR Rooney. Ten Tips on how to collect debt:. PREPARE: Reviewing the paperwork prior to calling is important. If you know the history of the account, the promises kept/broken and payment history you sound better on the phone. ...

10 Tips to help collect past due accounts
10 Tips to help you collect debt: PREPARE: Go over the paperwork on the debtor before making a call. Knowing the history of the account is key. Have all the records in front of you, ready for reference if needed. ...

10 Tips to help collect past due accounts
NOTES: Always keep detailed, accurate notes of every contact with the account. Probe for further information on the customer. Notes of these contacts will help you in subsequent phone calls, and may be invaluable in litigation. ...

How will I know if I should use a Collection Agency Service?
Are your employees spending too much time trying to collect past due accounts rather than doing the job you hired them to do in the first place? This is where a Collection Agency can really help your bottom line. ...

 


 

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