4.40/5 stars (105 customer reviews)


Learn how to: Avoid payment problems by assessing creditworthiness before you sell to a new customer. Use the unique lawyer-proof credit application that reveals what your company really needs to know. Find out how to collect, starting with letters, moving up to phone calls and, if all else fails, selecting the right professional collector. Double-quiz in each section assures that you master it.

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SKU: 9781884826344 Categories: ,


255 pages [139 self-teaching + 116 self-quizzes with detailed answers]

Section 1: Collections basics. Setting up a document retention system. How to set—and get—late charges. Proven phrases to get early payment on invoices. A tickler system that keeps you on top of slow payers.

Section 2: The successful collector. 5 key personal traits. How to time each phone contact and letter. Tested phone and letter phrases that speed up slow payers.

Section 3: Creating collection plans. Detailed 5-step plan with proven collection letters for each step.

Section 4:  How to use professional collectors. When and how to choose letter writing v. collection agencies v. collection attorneys. Pros and cons, and fees, of each. Monitoring the service.

Section 5: Avoiding losses with new customers. How to get credit data. When to use postdated checks. How to know when not to sell to a prospect. Special: a complete, legal Credit Application that reveals bad risk before your company sells to them.

Section 6: Avoiding losses with current customers. Nontechnical explanations of liens, mediation, workout arrangements and other techniques. When and how to use each each based on the debt and the debtor.

Section 7: Customer personal guarantees. Individual v. corporate guarantees. Special feature: a lawyer-approved personal guarantee you can use.

Section 8: How to use collateral. How to find out quickly what assets a customer or prospect owns. How to “perfect” an agreement—and collect the collateral, if needed.

Section 9: Bankrupt, or near-bankrupt, customers. Getting your money when a customer declares bankruptcy. What to do if you receive a bankruptcy notice. Getting back your merchandise.

Glossary 1. Key terms used in collections. 

Glossary 2. Key abbreviations used in collections. Very helpful for decoding notices your company may receive.

Plus: Where to find a prospect’s or nonpayer’s assets: Web site of the agency in each state where you can find a prospect’s or customer’s assets and other financial data.

Publisher: AIPB

Additional information

Book Type

Softcover Book, Online eBook

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