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
Leeanora –
This was helpful in that in my current employment I am often asked to act as a collection agent for customer accounts.
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Marion –
Helped with my current job duties.
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Marion –
Helped with my current job duties.
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Kelley –
I found it to be easy to understand and follow, which is very important to me, when you are doing self-paced courses.
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Cheryl –
Very informative
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Kianoush –
It was great.
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Shawna –
As with all of the AIPB courses, the B2B Credit and Collections course lays a solid foundation for successful accounting and bookkeeping.
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Susan –
Very interesting reading and very good points for someone who works in a big company and does not do collection per se.
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Beata –
Great course.
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Debra –
Each organization that offers anything on collections gives you just a little bit more and your course is no exception
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Tracy –
This book contains very helpful information and is an excellent reference.
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Aldo –
good book
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Solomon –
It is very fantastic approach to have the basic idea inorder to do the real Accounting job.
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Lina –
Very helpful
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Carol –
This course helped alot in the collections of some of our accounts receivable. I also have adapted some of it to the public as well and our write off of A/R is down alot.
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