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Collections Today
Your One-Stop Resource for Collections Information - Tools, Tips, Tricks of the Trade

This is a great collection of how-to articles on collections: How to hire and train a collections staff, control slow paying customers, speed payments by phone, make better collection calls, negotiate better deals, and manage collection agencies and collection litigation. And that's not all!

Checklist: 11 Warning Signs that You May Need to Change Your Collection Strategy
One of the most useful features of attorney Robert Bernsteins' book "Get P.A.I.D., A Guide to Getting Paid Faster (and What to Do if You Don't)" is its checklists. A good example is contained in . . .  keep reading
Book Review: What is Your Credit and Collection Game Plan?
GET P.A.I.D. A GUIDE TO GETTING PAID FASTER (AND WHAT TO DO IF YOU DON'T) By Robert S. Bernstein, Esq. 2007, Business Credit Publications, LLC., Pittsburg, PA 212 pages $34.95 ha . . .  keep reading
Ploys Cash-Short Customers May Be Pondering
"If creditors don't get a response when they call you, their immediate feeling is: 'Is this company out of business? Do I have a dispute here? Am I ever going to get paid?'" That's how Richard Bren . . .  keep reading
Collection Law Firms Growing Fast
Collection law firms will lead the collection industry in steady, profitable growth for the next five years, according to a study released in September by Kaulkin Ginsberg Company, an accounts receiva . . .  keep reading
The Best Ways to Track Performance of Collectors
The manager of credit & collection for The C/S Group, Matt Abbate, recently sought help from fellow ListServ Members for a new project he was charged with. He'd been asked to start monitoring the perf . . .  keep reading
How to Collect From Your Mexican Customers
More and more companies are looking to our southern neighbor for business opportunities. Mexico is our third largest trading partner (recently passed by China) and offers an excellent market for Unit . . .  keep reading
Using a Collection Agency for Outsourcing? Make Sure Account Management Is Separate From Collections
Continuing a long trend, trade creditors are increasingly seeking A/R management (aka "outsourcing") and they're turning not only to traditional outsourcers, but also to their collection agencies, whi . . .  keep reading
The Six Pillars of Successful Negotiations
The Six Pillars of Successful Negotiations Negotiation is a critical skill for credit professionals. We negotiate terms with new accounts, solicit payments from debtors, and settle deductions with customers. And that doesn't even begin to touch on the daily negotiations we engage in with our fellow employees for time and resources. In short, everything is negotiable. One: Preparation -Not surprisingly, preparation is the first pillar of a successful negotiation effort. By first defining the "scope and approach" your negotiations will follow, you lay the foundation for everything that follows. . . .  keep reading

The Super Collector
The Super Collector It was a grand life while it lasted. The U.S. Attorney for the Southern District of New York found that there were flights on private jets to the Turks and Caicos Islands, Antigua, and Miami. During those flights, according to the indictment, Victor Jung and his companions had caterers deliver Veuve Cliquot champagne, Mondavi wine, Grey Goose vodka, and shrimp cocktails. . . .  keep reading
You Take the Gavel: Customer Sells Your Goods to Pay Other Creditors: Is This Fraud? If It Is Fraud, Will Your Claim Survive the Bankruptcy?
By Scott Blakeley
THE FACTS OF THE CASE: You sell your product on unsecured credit to a sole proprietor business. The customer uses the proceeds from the sale of the product you provided to pay other creditors a . . .  keep reading
Creating an Atmosphere of Honesty
Our sources didn't indicate how Victor Jung's alleged embezzlement was discovered, but the odds are he wasn't turned in by a fellow employee. According to a recent study by the National Bureau of . . .  keep reading
Questions to Ask a Prospective Collection Agency
Questions to Ask a Prospective Collection Agency If you are seriously considering giving some business to a new collection agency, there are a number of questions that must be answered before you can make an intelligent decision. The most important questions are these: 1) How often do you remit payments on money recovered from debtors? Often collection agencies remit payment once a month. For example, collection agencies might have the following policy: Funds recovered will be remitted to the creditor by the fifteenth day of the month following collection. This is a point you might want to negotiate with the agency. Being paid once a month (on the fifteenth) means that the agency is holding your money for an average of 22.5 days. . . .  keep reading
Pros & Cons of New Reclamation Section Detailed: An Expert Outlines His Views Along With Some Practical Tips
Most who weighed in on this month's issue reported no real impact or a modest improvement. Perhaps that's because in the year since the new law passed, we've seen a relatively low level of cor . . .  keep reading
Guarantees: What to Do. What to Look for. What to Avoid
Guarantees: What to Do. What to Look for. What to Avoid Guarantees are being increasingly used by savvy credit execs throughout the country to help secure open account transactions. We recently spoke with Jim McCoskey, formerly the commercial credit manager at cell phone giant T-Mobile, which authorized the bulk sale of phones and products to independent retailers around the country for resale to their customers. He used guarantees as an integral part of the credit process. . . .  keep reading
Making Workouts Work Out: "Take 30 cents on the dollar, or we'll file for bankruptcy."
Making Workouts Work Out: "Take 30 cents on the dollar, or we'll file for bankruptcy." If that's the first notice you get that a debtor is seeking an informal reorganization (aka a workout) you are likely and entitled to be alarmed and suspicious. And, if this debtor has been a halfway decent customer, that's a shame—because reorganizations have significant advantages in these situations. They avoid stigma and heavy administrative expense involved in a formal bankruptcy, maximizing the potential return to creditors while minimizing the debtor's financial distress. . . .  keep reading
Time to Repossess?
Credit and the Law: The Problem Slavin Industrial sold Trainor an expensive piece of industrial equipment that requires frequent maintenance by trained technicians. Along with the Purchas . . .  keep reading
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