Pre-Legal Department

Would you like to immediately revitalize your company’s health and reduce the amount of accounts you turn over to third party collection agencies?

Designing and implementing your own Pre-Legal Department is a creative solution to improved cash flow.  It will radically reduce your DSO while restoring consistent cash flow to your bank account.  It is effective in getting you what you want – PAID!

Set up your Pre-Legal Department in a few simple steps:

    1. PERCEPTION IS EVERYTHING -Perception is everything; there is no reality. You will give your customer the illusion that your Pre-Legal Department is on the top floor of a skyscraper with several attorneys and numerous legal clerks when you may just be a one- person office.
    2. BE UP FRONT WITH CUSTOMERS AND THEY WILL PAY YOU – It all starts with communication by letting the customer know with a collection dun letter in the 60-90 day period that you are going to turn the account over to your Pre-Legal Department. The term “Pre-Legal” indicates to the customer that they are in serious financial trouble. A lot of people will pay prior to those 90 days from delivery date just to stay out of the Pre-Legal Department.
    3. IT IS IMPERATIVE THAT YOU DO WHAT YOU SAY YOU ARE GOING TO DO AND YOU FOLLOW THROUGH  – For example, on the 60th day after the date of invoice is due, you will communicate to your customer, in both a collection dun letter and verbally, that you are going to turn the account over to your Pre-Legal department and report them to the credit bureau. Depending on your company’s policies, this may also affect their future shipments.

In essence, you are educating your customer on how to pay you. The advantages of a Pre-Legal Pre-Legal DepartmentDepartment are demonstrative.

      • It not only gets you more money, but in case the account has to go to the attorney it is much easier to collect on the account
      • You will be ahead of your customers others vendors in talking about litigation 30 to 60 to 90 days prior to them hearing it from their other creditors

A structured and systematic sequence of events is the key to the “Pre-Legal Department” working so effectively. It will dramatically reduce the amount of accounts you assign to an outside agency.


 

For further tips on implementing a Pre-Legal Department, please read our follow-up post on Pre-Legal Department Collection Calls.

Please visit Dynamic Legal Recovery’s website or call us at 877-777-7564 for your complimentary evaluation.

Posted in Resources Tagged with: , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

*

three × 3 =