Is Your Credit Policy Costing You Money?

Posted: Aug 13

Write Offs Can Be Part Of A Profit Maximization Strategy No one wants bad debt. Everyone hates it when you do not get paid. But, is it possible that never having had a bad debt is a sign of a problem? Absolutely! Over the last few weeks, I’ve heard these comments from a few CFOs: Read full post >

Is Your Credit Application Costing You Money?

Posted: Jul 22

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 >

Isla Vista Shooting – Way Too Close To Home

Posted: May 25

My son graduates from UCSB in 20 days under a black cloud.  He knew 2 of the six students killed by gunfire on Friday, and at least one of the hospitalized. What should be a joyous time for our son and family is now filled with enormous sadness as we think about those who lost Read full post >

What Can “FlashBoys” Teach Us About Credit and Collections?

Posted: Apr 28

Michael Lewis’s latest bestseller ‘Flash Boys, A Wall Street Revolt’ is a non-fiction tale of Wall Street intrigue, unfairness, and salvation.  The story itself has nothing to do with credit and collections, and yet it highlights the traits that make some people great at managing credit risk or successful debt collection when things go wrong. Read full post >

Using A Different Phone Number To Reach A Debtor

Posted: Mar 18

You have been calling your customer about a past due invoice for the last month. After a couple excuses and a couple broken promises, now no one answers the phone or returns messages when you call repeatedly. What does this mean? Have they closed? Has office staff been reduced to the point there is no Read full post >

Simple Productivity Tip Can Make A Huge Impact

Posted: Mar 11

Last week I read an article on LinkedIn on how to be more productive.  I’m always looking to learn and try new things.  The one productivity tip that resonated the most for me was this: Before you go home today, write down the top 6 things you want to accomplish tomorrow; Cross out the bottom 5; Read full post >

You’ll Get Paid When We Get Paid

Posted: Feb 26

  “You’ll Get Paid When We Get Paid” This is one of the most common ‘explanations’ we get while providing commercial collection services. How the debt collector responds to this assertion can have a big impact on understanding what is really going on and figuring out how to get paid even if they don’t get Read full post >

Creative Ideas Solve Credit Risk Problems

Posted: Feb 19

How One Credit Manager’s Creativity Made The Big Sale Possible Most credit managers have been in this situation: the company wants to make the big sale, the buyer is ready, but their credit situation doesn’t make a standard transaction possible. Bud Rule, who has 40 years of credit experience, recently shared this story of a Read full post >

Using A Collection Agency To Preserve Customer Relationships

Posted: Feb 10

A Credit Manager’s Creative Way of Saving Customers Want to see a salesperson squirm with displeasure: just tell them the account for a long-term customer is being sent to a collection agency.  The salesperson has visions of rogue debt collectors badgering their customer with threats of bad credit references, legal suits, judgments and garnishments, caring Read full post >