Drug testing

How Not to Get Stiffed, Improving Your Collection Procedures

Some businesses have slow paying customers or past due balances because they didn't "train" their customers in the beginning.

It is important that your customers know your credit policy and/or terms of payment, BEFORE they become a customer. Reiteration of your credit policy, when payment is overdue, is a good step to take in trying to obtain payment. Always ask for payment when it is justly due.

You should never extend credit to a new customer without having them fill out a credit application and go through the credit approval policy. Once you extend credit, it is important to maintain accurate records on an accounts payment history.

Adhere to your collection policies no matter what. You cannot see the future or changing market conditions. Try to keep current with trade reports pertaining to specific companies and industries.

Change your collection letters frequently, you can make them stronger and more action oriented.

Discourage payments on account or changes in payment terms. To many payment plans or changed payment terms can impair your cash flow.

When you receive payments "on account" be sure to follow up right way with a letter or phone call thanking them for their payment and telling them what their new balance is and when to send it.

On large accounts call or send a reminder just a few days after terms if they get delinquent.

Ask to speak to a manager, or owner when making collection calls rather than speaking to a secretary or receptionist. Go right for the decision maker.

If a customer disputes the quality of merchandise, or service, price or delivery, you should attempt to resolve this right way. Insist they pay the portion of the bill that they are not disputing while you work out the disputed problem.

If all else has failed you may want to refer the account to an outside collection agency.

For more information on Improving your Collection Procedures or collecting more money faster order Become the Squeaky Wheel, a Credit & Collections Guide for Everyone, ISBN# 0-9706645-1-6 $29.99 available at www.michelledunn.com or www.amazon.com or your local bookstore.

Michelle Dunn has over 17 years experience in Credit and Debt collection. She is the founder and president of Never Dunn Publishing, LLC, is a writer, publisher, consultant and the Editorial Advisor for Eli Financial Debt Collection Compliance Alert Newsletter.

Michelle started M.A.D. Collection Agency in January 1998 and ran it successfully until she sold it in December 2004. She owns and runs Credit & Collections.com an online community for credit and business professionals. http://www.credit-and-collections.com

Michell e has been featured in Ladies Home Journal, PC World, Home Business Magazine, Home Business Journal, Entrepreneur, The Internet Web Source, Professional Collector, and in Home Based Business for Dummies, Shameless Marketing for Brazen Hussies, From the Home-Front The Simple guide to starting and Running a Home based business, she was a featured guest on (NPR) National Public Radio and has been in many newspapers nationwide. She has many published articles and 3 published books to add to her list of accomplishments.

limousine chicago service
In The News:

4 Customer Service Mistakes Companies Should Avoid Making

1) Being placed on hold endlessly. Don't you just love... Read More

Dealing with People - Words to Avoid

You probably realise how the wrong tone of voice and... Read More

Quality vs. Quantity

There is a battle in Call Centers. The teams are... Read More

Post Office, Incredible Lady Postmaster

There are two Post Offices that I routinely visit. One... Read More

Make An Action Plan To Improve Customer Service

Customer Service is a critical factor for keeping your clients... Read More

Customer Service - Winning Customer Experiences

Winning Customer ExperiencesMuch research has been done on what the... Read More

Listen to Suggestions

If you are up to your ears in a stressful... Read More

Sorry, No Customer Service After 4:00 P.M.

A few months ago, I wrote about ingenious styles of... Read More

Why Passenger Surveys are a Transport Operators Best Friend

Public transport operators who already use passenger surveys may not... Read More

The 3 Rs of Customer Service

What I am about to tell you may seem very... Read More

Got A Consumer Problem?

Millions of people, just like you, end up with a... Read More

Provide Exceptional Value - Grow Your Business

The primary objective of a business is to get and... Read More

Keeping Clients Happy Keeps them Coming Back

Whether you are a seasoned small business professional, or you... Read More

Customer Feedback: Everyone has an Opinion - USE IT!

Have you ever been in a department store and known... Read More

We Got It Wrong: Never Under Promise & Over Deliver

You know how it is, you believe something for so... Read More

Customer Service, Italian Style

Nowadays, we complain nearly all of the time about how... Read More

Say It With Humor

When you own a business, you may find yourself in... Read More

Why Cant Microsoft Make Soft Packaging?

Why is it that Microsoft wants you to buy its... Read More

One of the Secrets of a Great Customer Experience

A few weeks ago we conducted our annual "Customer Experience... Read More

Are You Satisfying Your Customers?

The latest report from the American Customer Satisfaction Index (Michigan... Read More

Handling Angry Clients

What do you do when your client gets mad at... Read More

Dealing with Difficult People

1. Don't get Hooked !!!When people behave towards you in... Read More

Poor Customer Service - Are Your Customers Driving Away Other Customers

Every customer you have is a word-of-mouth advertiser for you.... Read More

Accountability

The Call Center world is an intense pressure-driven environment continually... Read More

How to Win the Hearts of Your Customers and Friends

Those of us doing business over the internet have to... Read More

ann arbor led street lights street light discounts Pete's produce ..