4.41/5 stars (106 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.

ISBN:9781884826344
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$59.00
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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 WorkBook, Online e-WorkBook

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4.41 out of 5 stars

106 reviews

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10 reviews with a 4-star rating

  1. Elizabeth

    This course was easy to read and understand. I learned a lot from it and am using it daily in my current position.

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  2. Renata

    I found the course to be very informative, and information well organized.

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  3. Darlene

    The information was very well organized and I love the test at the end of each chapter. The test and quiz help to prepare you for the final test. I do believe that working the information in the matter inwhich this course is laid out is the most effective manner.

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  4. Dona

    VERY INFORMATIVE & EASY TO UNDERSTAND

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  5. Karin

    Helpful

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  6. Dharmendra

    Excellent book and help to write the letter for collection from Customer.

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  7. Sherry

    Would have liked more examples/experiences.

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  8. Fiona

    It gave good insight into this aspect of accounting.

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  9. Jing

    It is good.

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  10. Luanne

    Very helpful and informative. Use as a reference regularly.

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