Credit Analyst Shares Debt Collection Tip

A discussion on LinkedIn regarding my recent article “Does Knowing the Truth Matter” prompted this comment from Kim Gelinskey, Credit and Collections Analyst for Veolia ES Technical Solutions, L.L.C. “I’ve learned you are more productive working through a problem than plowing through the issue.” This immediately struck a chord with me. I thought of all … Read more

How to Separate Fact From Fiction

Unfortunately, we know that many debtors will provide false or misleading information in order to make it harder to collect. A well-designed and executed strategy is necessary to get to the truth which is key for increasing collections and making good business decisions as discussed in this recent post “Does Knowing The Truth About a … Read more

Does knowing the truth about a debtor matter?

Your collection agency reports that they too have not yet been able to collect on an unpaid invoice from your business customer. Do you care why? Some of your common choices at this point are: Offer a Payment Plan Settle for reduced amount Commence litigation Write off the debt Close the claim Monitor the situation … Read more

Understanding Collection Litigation

We strongly prefer to collect money owed to our clients without going to court.  In most situations, if the debtor is willing to voluntarily cooperate at any level, we can get our client’s money faster and less expensively than going to court.  But, when litigation is the best alternative and appropriate, we do not hesitate … Read more

Financial Statement Analysis For Credit Professionals

Determining the credit limit for customers is a difficult task.  One factor is to analyze the customer’s financial statements to understand their profitability, financial strength, and liquidity.  We have created a comprehensive resource for credit professionals that includes the following: Videos and transcripts explaining of the 3 financial statements (e.g. income statement, balance sheet, and … Read more

Excuse or Explanation? How to get your money!

This was originally published by Dean Kaplan on InsideARM in September 2012 We’ve all heard hundreds of different stories as to why a business debt has not been paid.  For our commercial collection agency, the first thing our debt collectors are trained to do is to figure out if it is a legitimate explanation or … Read more

Debt Collectors May Soon Be Able To Call Your Cell Phone

When you receive a phone call on your cell phone from an unfamiliar number, do you answer the call? Soon you may not want to since debt collectors may be able to call using cell phone numbers. Right now, these calls are largely prohibited, but the President and Congress are considering allowing these calls to … Read more

Collection Agency Success Against Small Business Owners

As a collection agency, we often have debtors attempt to avoid dealing with us by trying to hide behind rights provided by the Fair Debt Collection Practices Act (FDCPA). The FDCPA applies to consumer debt but not to business to business debt collection. Successful commercial debt collectors need to know which rules apply to their … Read more

Outside Collection Agency Expectations

What Services Should You Demand of an Outside Collection Agency?Originally published May 1, 2000, in CreditToday, by Jerry Kaplan There are a lot of collection agencies out there that would be happy to get your business. You might be using one or more of them now. But are they giving you the services that you … Read more

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