Blog Archives

EFFECTIVE COLLECTING

Often small business owners, particularly those that have built a rapport with regular customers, will err on the side of caution when it comes to collecting on overdue accounts fearing that alienating current clients is too high of a risk

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Get Organized, Get Paid

Some businesses have slow-paying customers or past due balances because they didn’t “train” their customers in the beginning. It is important that your customers know your credit policy and/or terms of payment before they become customers. Reiteration of your credit

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Sending Accounts to Collections

It’s a good idea to have a collection policy in place so that when an account should go to collections you are prepared. If there is a firm date for writing the account off (whether it be 60 days, 90

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Collection Secrets to Boost your Cash Flow

When it comes to businesses bringing in money, there are a great many ways to go about it and some are never really given the appropriate attention and thus become, lost money.  What if, someone had a way to spell

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5 IMPORTANT TIPS TO CONSIDER WHEN SELECTING A COLLECTION AGENCY

The following are tips to consider to ensure that the collection agency you hire is a good one: #1 – Paying less isn’t always a good thing.  According to Forbes, “You get what you pay for” is often overlooked when

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Dynamic Legal Recovery’s Collection Agency is Now Bonded & Licensed for Commercial Collection Services in All 50 States

Dynamic Legal Recovery (DLR), a commercial collection agency certified by the International Association of Commercial Collectors, Inc., is now bonded and licensed for commercial collections services in all 50 states.  Providing an unparalleled level of cutting-edge service internationally, this accomplishment

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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

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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

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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

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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

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