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One of the questions we are often asked in regards to past due accounts is, “If the credit card company supported a chargeback, can I still collect?” The short answer is “Yes.” For more details, keep reading. Customer service and the credit card company Remember that the debtor is also the credit card company’s [...]
It can be easy to forget that debtors are people, not animals to be hunted and trapped. There are a variety of reasons individuals and companies have past due accounts and why they don’t pay. Scared and overwhelmed Perhaps their small business is not as successful as they’d hoped it would be and they are [...]
You do your best to provide quality customer service and to produce the best products and services possible. In return, you expect to be paid the agreed upon rate within a reasonable timeframe. When that doesn’t happen, when your company has been taken advantage of, frustration and anger may nudge you to neglect your [...]
In the attempt to provide quality customer service, you want to be able to accommodate client requests. It can be tempting when a big deal comes along to be willing to extend corporate credit in order to close the deal, rationalizing that negotiation requires some give and take. That may be true, but consider a [...]
Debtors do not always live or conduct business in your neighborhood. In fact, with the ubiquitous presence of online commerce, your clients could live in a different city, a different state or a completely different country. While this provides fantastic opportunities to expand your business, it can make debt collection much more complicated. It is [...]
If you work in accounts receivable long enough, you begin to be able to sense when a company or individual is trying to avoid paying their past due bill. When you call to collect overdue funds, they repeatedly ask for documentation or answers to unrelated questions as a means of delaying their payment. If they [...]
Companies quickly grow tired of tracking down debtors to collect past due funds. For some it seems easier to give up the fight than to keep chasing the debtor. This is what debtors count on. It can be a hopeless feeling for companies that have already delivered services or goods. You may wonder if taking [...]
Once it has become necessary for a business to begin collection efforts on a debtor, there really is no turning back. The goal for the collection professional to keep in mind is that the end result is to help the company get back the money they are rightfully owed. Many debt collection agencies have proven methods [...]
As a business owner, chances are you have some expectation as to how your business accounts receivable and accounts payable will run. Your customer purchases goods or services from you, and you await payment. Only, the payment does not come. Now what? Just letting the money remain outstanding means less money in your account, less [...]
Within any business, solid customer relations are the crucial elements to success. Without solid business practices, your money will not be received in a timely fashion, your invoices will go unpaid, and your merchandise and goods will cease being delivered to you. How can you remedy these soiled business relationships? Collecting past due debts [...]
