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May31
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I know I told you all I was attending the Book Expo of America again this year in Washington D.C. I have already written a follow up article to replace last years aticle on the Independant Publisher Newsletter website. I had the opportunity to attend the IPPY Awards in Washington D.C. on Friday night and meet Jim Barnes who is the editor there.
I also had the opportunity to meet Spider Man while walking the floor of the Book Expo! since I have been so lax in getting my PEZ picture up, I wanted to share this bit of excitement with you.
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May31
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That is the title of the article written by John N. Frank for the June 2006 issue of Collections & Credit Risk, the Commercial & Consumer Credit Authority. I had the opportunity to be interviewed by John last month for...
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May30
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Even when you are a business owner trying to collect from your customers, even on a bad check, there are legal issues that are involved with collecting your money. You need to be aware of them so you don't violate...
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Some business owners think every penny is worth it, it is after all, the principal of the matter. It also depends on you, your staff and your resources. Some other things to consider are the age of the past due...
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It is very common with businesses who don't do any planning, such as business planning, marketing planning or policy planning. Some business owners, especially new business owners are so eager to make a sale that they don't document or discuss...
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If you act serious, and are firm about being paid from the beginning, your customers will know that you mean business. If a customer knows you are serious, they are more likely to pay. If you start off with a...
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May25
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Once you decide your business needs a credit policy, you will have credit applications available for all your customers to complete. How can you make these applications work for your business? Make sure the applicants print clearly and press down,...
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May22
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I have returned from Washington D.C. and attending the Book Expo of America. I met allot of great people, and actually ran out of press kits! I have found there is a growing interest in collecting money and debt collection,...
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May21
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On May 15, I posted a topic called "What makes a Good Collector?" I had some good feedback on that post and wanted to elaborate on those items. The first item is: Identify the most common forms of credit activity...
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May19
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If you call a customer about a past due invoice and for whatever reason, they hang up on you, don't call them right back. When you are calling past due accounts, you become a collector. Debtor's will say you are...
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May18
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the question I seem to always get asked is, "When is it legal for me to call customers that owe me money?" Most people think that because this person owes them money, they can call them anytime at all! Seriously,...
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May17
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If you really think about it, a post dated check is not really a "Good check". It is "bad" until whatever date it has on it. So you in reality are accepting a "bad check" if you accept a post...
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Last month I was interviewed by John Frank, the editor at Collectioins & Credit Risk magazine for a story about complaints which will be featured in the June issue which is being printed now. I have another interview today with...
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May16
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FICO is named for Fair, Isaac, the company that created it. This number can give you an idea if someone is likely to make timely payments or not. The number is generated by computers based on the information found on a...
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A Credit Application is the piece of paper you have that binds your customer to your terms. A credit application is your source for information on your customer. A credit application can also be a contract. (Be sure it is...
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May15
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A good collector should be able to: Identify the most common forms of credit activity Name the three major credit reporting agencies and their function in credit extension List five important federal laws and their roles in governing the credit...
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Asking questions with precision and making the transition to the payment arrangement is critical when making collection calls. You are calling to collect your money, never forget this. All your questions should be clear and to the point with silence...
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When you make collection calls, you should know what you are going to say before you pick up the phone. Your best bet is to BE PREPARED! Your opening statement should be brief and to the point. You need to...
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May14
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Before you ever make your first collection call there are some things you should do. Know what you can and can't do in regards to the FDCPA. Research the account and the amount due, know what invoice or orders make...
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When you make collection calls, do you know how you sound? Try recording yourself and listen. Everyone sounds different than they think they do and by taping yourself and listening you can better see what you need to work on...
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May10
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I read about BlogBurst on a blog here at Know More Media and visited the site right away. I was confident my blog would be accepted, because I, of course, think my blog is awesome Imagine my surprise to receive...
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When you write your collection letters, remember your audience. Do not send a letter that is so long and full or large technical words that it just gets glanced at and thrown in the trash. You are not sending this...
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Fair Debt Collection Practices Act State laws listed by state Information on communications skills. Information on negotiation skills. Great site full of information on mediation skills. Organizational tools are available at these websites: www.shopgetorganized.com/ www.viking.com/ www.staples.com www.officedepot.com www.officemax.com Printed products...
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Just like mechanics, Credit Managers have a tool box of things they need to effectively do their job. Some essential tools a credit manager needs are: A signed credit application. Knowledge of the FDCPA, FCRA and any state laws in...
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May 7
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Last year was my first year to have the opportunity to attend the BEA (Book Expo of America) in New York. I researched and prepared to get the most benefit for myself and it paid off. I had 2 publishers...
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May 3
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Michelle Dunn, author, consultant and celebrity, has been selected to speak in June at the 2006 Credit Professional International Conference in Wichita Kansas . Dunn will discuss credit & collections policies and procedures at the four-day conference and networking event...
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The best way you can gather information on your customers or potential customers is with a credit application. the main reason you should get a signed credit application is to decide if you want to extend this customer credit or...
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