Article by: Jeanne Lee of Anytime Collect Managing invoices and collecting them on time is not an easy job. It requires a significant investment of your time and energy and even then many of your invoices are likely still going beyond terms, being written off as bad debt, or being sent off to a … Read more
Article by: Kathryn Brown What You Need to Know About Credit Profile Number and Synthetic ID Fraud There are numerous fraud schemes out there – if there is money to made, there is going to be fraud of one kind or another. One type of fraud that is becoming more prevalent is Credit Profile Number … Read more
According to a study at Duke University, 40% of our actions are out of habit, not actual decisions. If all your habits are good, this makes life much easier. But, if you are like me and have some bad habits, this statistic helps explain why changing the Habit Loop is so difficult. This is what … Read more
The easiest time to get a personal guaranty is when a business is first asking for credit. It is very easy to include this provision on a credit application as described in our free eBook, The Credit Application Handbook. Many business owners will sign a personal guaranty just because it is on the form. Alternatively, … Read more
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 more
Article by: Bertrand Mazuir Any commercial relationship based on mutual commitments shared between the seller and the buyer. The buyer undertakes to pay the price of the service or equipment delivered on the date specified in the contract and invoices. However, he frequently has a high propensity to forget, at least temporarily, this commitment. Several … Read more
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 more
“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 more
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 more
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 more
