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On Time vs No Time

  I was checking out some competitive websites this weekend and noticed the headline “No Time to Call Past Due Customers?”  Naturally we are always looking for companies that have no time to call past due customers so I stopped to read it.  Nothing new there, essentially the same pitch we give, if you don’t […]

Accounts Receivable Management for Small Business

While most small business owners and managers get the “Cash is King” maxim and understand the need to collect accounts receivable quickly and without aggravating their customers, collections work tends to resemble the neglected step child of the back office environment and is frequently neglected in favor of more urgent or more agreeable tasks.   […]

In-House Collection Letters

I noted last month that third-party collection letters, in other words collection letters written and mailed from a collection agency, are more effective than In-House collection letters.  While this is true later in the collection process, In-House collection letters have their place.  In-house collection letters can and should be a component of any complete accounts receivable […]

Collection Prevention

“An ounce of prevention is worth a pound of cure” Benjamin Franklin – Sayings like this stick around for for 300 or 400 years for a reason.  Losing weight is harder than not gaining weight, having heart surgery is harder than exercising for 20 minutes a day, and proactively preventing collection issues is easier than collecting bad […]

The Law and Your Collection Letters

“What can I legally say in my collection letters?” is without a doubt the question we’re asked most often, so I want to take a moment to answer it.  The FDCPA or Fair Debt Collection Practices Act was written for 3rd party debt collectors, not for you as a small business owner or credit manager.  Quite frankly […]

In-House vs. Collection Agency Letters

  Collection agency letters outperform in-house collection letters by a factor of 3 to 1. If you’re skeptical like my little buddy in the picture above, I get it.  My company sells collection letters, why wouldn’t I say they work better? There’s a good reason, you won’t want to work with me if I lie – and I want […]

You Get What You Pay For or Do You?

You’ve heard it before.  You get what you pay for.  My opinion, you might and you might not. Have you ever had the experience of giving someone a raise and instead of getting the improved performance you were hoping for they were resentful or even angry.  I’ve read and I believe that compensation accounts for only […]