Author Archives: wes

Your Credit Application is Costing You Money

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The credit appli­ca­tion is the ini­tial doc­u­ment used by ven­dors to col­lect infor­ma­tion and estab­lish credit and con­trac­tual terms with a cus­tomer. Unfor­tu­nately, most credit appli­ca­tions we see are miss­ing crit­i­cal items to pro­tect our clients in the event that their cus­tomer does not pay within terms. Some of the most painful issues our col­lec­tion Read full post >

What to do when you expose a liar?

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In my last arti­cle, I talked about meth­ods for deter­min­ing if your non-paying cus­tomer is giv­ing you a truth­ful expla­na­tion of their sit­u­a­tion. Unfor­tu­nately, all too often we catch some­one pur­pose­fully mis­lead­ing us or telling an out­right lie. What you do next can have a big impact on your debt col­lec­tion suc­cess. We've all been Read full post >

Simple Tips to Avoid Delinquent Payers

This entry was posted in Debt Collection, Negotiation Advice on by .

The Kaplan Group As we've explained many times in our pre­vi­ous posts, delin­quent and non-paying cus­tomers and accounts can have a very seri­ous effect on the health of your busi­ness. Obvi­ously, when a cus­tomer orders a prod­uct or ser­vice and then doesn't pay for it, your busi­ness suf­fers — so how can these delin­quen­cies be Read full post >

Basic Strategies To Promote Debt Collection Success

This entry was posted in Debt Collection, Negotiation Advice on by .

Learn­ing to effec­tively col­lect debts, whether com­mer­cial (business-to-business) or con­sumer (debts owed by indi­vid­u­als) requires patience and dili­gence. The best debt col­lec­tors have honed their skills over years, learn­ing what strate­gies tend to push debtors towards mak­ing pay­ments. For new debt col­lec­tors who haven't yet had time to develop their col­lec­tion tech­niques, how­ever, there are Read full post >

Collecting From Related Companies — Is It Possible?

This entry was posted in Debt Collection, Negotiation Advice on by .

Some­times, dur­ing a debt col­lec­tion effort, the col­lec­tor will find that the owner of a com­pany or cor­po­ra­tion also holds own­er­ship (whether par­tial or total) in another busi­ness entity. The busi­nesses in this case are said to be related — they are owned, at least in part, by another com­pany or indi­vid­ual. Can the assets Read full post >

How To Know When It's Time To Hire A Collection Agency

While know­ing when to send a past-due account to a col­lec­tion agency is some­times dif­fi­cult, it is impor­tant to keep in mind that the sooner an agency has an account and can begin col­lect­ing on it, the more likely they are to suc­cess­fully recover your money. There are mul­ti­ple rea­sons to send a claim to Read full post >

Different Types of Businesses And How They Affect Collection

This entry was posted in Debt Collection, Negotiation Advice on by .

No two busi­nesses are exactly alike, and there are many dif­fer­ent types of busi­ness in today's econ­omy. It is impor­tant to under­stand the basic char­ac­ter­is­tics of 4 main types of busi­nesses when begin­ning a col­lec­tion effort, as the enterprise's struc­ture affects how you can col­lect on unpaid bills and who you need to speak to Read full post >

Properly Using Email Correspondence In Collection Efforts

This entry was posted in Debt Collection on by .

While tele­phone is still the most effec­tive way to com­mu­ni­cate with debtors dur­ing a debt col­lec­tion effort, other forms of cor­re­spon­dence includ­ing email can play an impor­tant role in a debt col­lec­tor's efforts to con­tact a non-paying cus­tomer. When using email for col­lec­tion pur­poses, it is impor­tant to fol­low some gen­eral guide­lines to ensure your Read full post >