Using Collection Letters Effectively

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Jun28

Using Collection Letters Effectively

Know More: Creating a Credit Policy, Debt Collection Letters, Fair Debt Collection Practices Act, I have past due customers, what do I do?, What makes a Good Collector?

Most business owners use Collection Letters or Dunning notices as their main means of collecting on past due accounts.

Though this is not the most effective way to get your money, it does work. Where did you get your collection letters? Did you write them or did someone write them for you? Are they working for you?
Some ways you can tell if your letters are working for you or are just a waste of time, money and paper are:

Do you get responses when you send out a batch of letters? Are your customers calling you saying, "I received this letter from you." or is your phone silent after a mailing?

Do you receive many more payments in the next weeks mail as a result of the letters sent out?

If those things are happening, your letters are working. Great! If not, you need to re-think and re-create letters that will work for you. You can have an attorney create letters for you, you can ask another business owner to share their letters with you, or you can use the letters in any of my books which were used by me and are proven letters that get results.

I did not include any "dead weight" letters in my books, if a letter didn't work for me, I deleted it from my system. Make sure you are not sending out letters with no results or you are wasting time, money, postage and paper.

Make July your month to re-evaluate your collection letters and processes and watch your profits in August soar.

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