Blog Archives

Receivables Timeline/Lifeline (part 2 of 2)

Pre-Legal Department Letters From the outset you have told your customer that at 60 days past due you will assign the aging account to your Pre-Legal Department using our letter templates in our previous blog, “Receivables Timeline/Lifeline”.  Unfortunately you still

Posted in Resources, Uncategorized Tagged with: , , ,

Receivables Timeline/Lifeline (part 1 of 2)

Having a plan, complete with different treatment plans for different levels of risk, in place will create consistency and remove guesswork. Providing standard templates for written communication and scripts, or talking points, for person-to-person contact is a valuable tool in

Posted in Resources, Uncategorized Tagged with: , , ,

Prepare to Get Paid

A successful collection effort consists of a series of structured and professionally carried out steps. Yet even when you follow every step to the “T”, it’s inevitable that you run into a customer who doesn’t pay you on time. One

Posted in Resources Tagged with: , , ,

Call for Payment

When you have sent your customer invoice after invoice and they have yet to return with their payment, the most effective step can be reaching out to that customer by telephone.  But let’s face it, few people love making collection

Posted in Resources Tagged with: , , ,

How Collectible are Your Aging Accounts?

There are many factors to look at when considering how collectible a past due account is, however the age of the account is the number one indicator. Let us consider past-due accounts averaging up to four months old versus past

Posted in Resources, Uncategorized Tagged with: , , ,

Improve Your Cash Flow Now

It seems so simple, collect your receivables as fast as possible and slow down your payables without jeopardizing the relationships you have with your customers and suppliers. However, if you are struggling with this seemingly simple equation, you are not

Posted in Resources Tagged with: , , ,

To Offer Credit or Not

Not all small businesses grant credit. They may make all their sales on a cash basis. However, like it or not, we live in a credit-driven society and in many cases, this costs them sales and customers. If a supplier

Posted in Resources Tagged with: , , ,

Your Consumer Debtors Have Rights

It’s good customer service and in your best interest to have some knowledge of consumer rights under the Fair Debt Collection Practices Act, especially when you submit accounts to an outside collection agency. While you hope the account you’ve turned

Posted in Resources Tagged with: , , ,

Turn Your Invoices Into Cash

Ever wish you could magically start getting your late paying customers paying on time? Or dream of getting checks by snapping your fingers from your delinquent accounts? Unfortunately there is no magic elixir that can ensure turning your invoices into

Posted in Resources, Uncategorized Tagged with: , , ,

Negotiate or Send To Collections

Your client hasn’t paid the invoice you sent them and it’s really late, so now what? The decision to negotiate with your customer or send the account to collections will often depend on your business. Occasionally, especially when a relationship is at

Posted in Resources, Uncategorized Tagged with: , , ,