Description
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.Â
Glossary 2. Key abbreviations used in collections. Very helpful for decoding notices your company may receive.
Plus:Â Where to find a prospect’s or nonpayer’s assets:Â Web site of the agency in each state where you can find a prospect’s or customer’s assets and other financial data.
Publisher:Â AIPB
Lucia –
It is a step by step book to do collection.
(0) (0)
Dawn –
Very well written. I actually learned a lot than I thought I would.
(0) (0)
Wanda –
Excellent resource
(0) (0)
Elizabeth –
I mailed my review in with my test.
(0) (0)
Linh –
The instruction of this course is easy to follow.
(0) (0)
Roxanne –
Great course! Very helpful!
(0) (0)
Kelly –
Book was helpful but since I work for a municipality the rules are different.
(0) (0)
Rick –
Very relevant and useful.
(0) (0)