Can Your Nonprofit Use a Collection Agency?

Nonprofits and for profits differ from each other in many ways. But, one thing the two types of companies have in common is that they both need to collect money in order to keep on the lights. People often believe that selling items or charging for something jeopardizes a nonprofit’s tax-free status. This is not … Read more

How to Collect on Bad Checks

I don’t want to shock you, but even though we are now almost at 2020, and electronic banking, no cash stores, and ATMs are all part of everyday life, a lot of people out there are still writing checks. Some people write checks because that’s what they’re used to doing. Some people like to write … Read more

Reduce Stress by Collecting with Integrity

Economies are cyclical. For every upturn, there’s a downturn. When there is a downturn, unqualified collection agencies tend to spring out of nowhere. In 2011, during the Great Recession hundreds of un-trained collection agencies entered the market. Predictably, complaints about collectors’ abusive practices reached all-time highs. According to the Wall Street Journal, in 2011, the … Read more

When a Client Dies Owing You Money

It’s hard to imagine anything more awkward than asking about an unpaid debt after someone dies, but just because it’s awkward doesn’t mean you can avoid it. What happens to an individual or company owner’s debt after they die? It depends. If an individual dies owing money, generally, their estate is responsible for paying any … Read more

What Collection Agents Know About Hiring

If you Google “hiring negotiation” you’ll see hundreds of articles about how to negotiate a higher salary when given a job offer.  You’ll also get a lot of articles from the employer’s point of view about how to negotiate a lower salary.  But what so many of these articles overlook is that the negotiations involved … Read more

The Four Agreements and Collection Negotiations

The book The Four Agreements by Don Miguel Ruiz was published in 1997.  The book has been translated into over 40 languages and has sold over 7 million copies in the United States alone. Clearly, it hits a nerve for some people.  Although the book is meant to help with personal growth and relationships, I’ve … Read more

Late Fees: The Hows and Whys of Charging Them

We’ve all been there.  You miss a payment on a credit card or utility bill and find yourself paying not just the amount due, but the amount due, plus a late fee.  In B2B relationships charging a late fee and/or, a finance charge, is also common practice. If you aren’t already charging your clients for … Read more

Don’t Try to Improve Weaknesses, Instead Focus on Strengths

If you’re the owner or CEO of a company, you’re probably familiar with what happens when you have a struggling employee. You sit down with the struggling employee and assess what they’re doing wrong. You ask them to improve and then, six or eight weeks later you assess their improvements. Sometimes things get better, sometimes … Read more

The Government Shutdown and Payment Problems

As we’re writing this, the longest ever U.S. Federal Government shutdown just ended, albeit perhaps only temporarily. Whatever your political views, there are clearly economic costs to both businesses and individuals. Some of those costs are far reaching. Even if none of your clients are federal employees or agencies, you may still feel the burn … Read more

The 5 Cs and B2B Lending

Anytime you work for a company or ship a product before getting paid, you are extending credit to that company. That’s why, just like any lender, before you begin working with a new client or company you should review the 5 Cs of Credit. Character For individuals applying for a loan, “character” generally refers to … Read more

Ready To Collect Your Money?