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
Kathryn –
Well worth the money
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Cathy –
It would help to get tests back to see what was done correctly & what was missed.
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Kenneth –
This is a good study book. It provides good insight into Credit and Collections.
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Jennifer –
A little harder to get into, but that is because no one likes collections:)
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Enrique –
The book is good. Well written, good topics. Needs to be updated with the later.
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