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Mar24
Top 10 ways to Collect on Past Due accounts.

I recently taught a class about collecting on past due accounts.  The most popular part of our discussion was my Top 10 Ways to Collect on past due accounts. 

I thought since so many people were interested in the class that I would share them here.

I will try to post one a day for you and here is the first Top 10 way to Collect on a Past Due Account!

(Drumroll please.....)     got-money_drop.gif

#1.  Personal Visits.

If possible, this can be the most effective way to collect your money.  I had been trying to collect from a debtor for a while, and he would always tell me he was sending the payment and was always very nice, and he did make a few sporatic payments, but then stopped all together.  He would still tell me when I called, that he was going to mail a check on Friday, but then would not do it.

I am sure you have all been there!

One day he told me the same story and when I hung up the phone I went to his job.  I asked someone who he was and walked up to the counter where he was working. I just handed him my business card since there were other employees around and I could not reveal why I was there without violating the FDCPA.  When he read the card, his face became very red but he did pull the $17 he had in his pocket out and hand it to me. 

I never had to call or visit him for a payment again.

 

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