Some Good Debt Collection Methods

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Some Good Debt Collection Methods

some good debt collection methodsMuhammad Ali once said “It isn’t the mountains ahead that wear you down. It’s the pebble in your shoe.” Same thing with collections.

You don’t have to be “tough and firm” to get accounts paid. You don’t even have to be particularly “good at debt collections” to get invoices paid more quickly. But you do have to “Become Very Hard To Ignore“.  To be persistent. To let your customers know, subtly, that you’re simply not going to go away until the account’s been paid.

It’s doing lots of the “little things” and thinking outside of the box that gets your invoices paid before other creditors.

Examples
*  If a debtor emails you and says “I’ll pay this on Friday”. Reply on Thursday and say “Noted. Thank you“. (They’ll know why you’re contacting them … then.)
*  If a payment arrangement’s made and the next instalment’s due on Friday, email (or sms) them on Thursday and say “Thanks for keeping to our arrangement“.
*  If payments are due at the end of the month, email them on 25th to remind them! (see what effect THAT one tactic had at one client!)
*  If the accounts payable clerks giving you a hard time, write to her boss.
*  Use Fear Of The Unknown

By | 2017-07-13T08:51:40+00:00 September 23rd, 2013|techniques|3 Comments

About the Author:

Have you ever wondered why a client does business with you and then ignores your invoice like they had no intention of paying it in the first place or they treat you like their own personal line of credit, leaving YOU dangling, waiting months for their payment? Unfortunately this situation is all too common and can even be puzzling for the most experienced business owner. If you’ve ever had to handle outstanding accounts or you are just so over non-payers, then we can help. Real-world skills, solutions, tips & strategies to get more accounts paid on time, and, most importantly, how to maintain customer goodwill while keeping YOUR cash flow in the positive. You will find the blog posts helpful but to get real results, contact us by using any of the forms on this site, by email or by phone. I’ve been involved in the management of accounts for over 30 years, heard every excuse in the book, can spot a non-payer at 20 paces. Finance Companies in the 70s (systematic, tough), professional firms in the 80s (no systems, too gentle) and, since then, just about every other sort of business you can think of. I’ve written books on the topic, spoken all over the place about it and the blog in this website is my way of “giving back”. I hope you find it helpful.

3 Comments

  1. Christie Campagna March 22, 2014 at 12:29 am - Reply

    Thanks for this info. Keep up the neat work. I’ll be returning often… Debt Recovery Singapore

  2. kate sumner March 25, 2014 at 12:23 am - Reply

    very good article,thanks for your sharing. Debt Recovery Singapore

  3. Dexter jazz April 3, 2014 at 8:09 pm - Reply

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