How to Collect Accounts Receivable

Assess and improve current collection management

• Is your credit policy clear, concise, and airtight? Review it with our comprehensive checklist.

• The latest “e-tactics” from the smartest collectors: how to use and document e-mail to charge up collection efforts!

• Billing and invoicing: Find out if you’re losing valuable cash flow through ineffective billing procedures.

• Surprisingly easy steps that produce more on-time payments … and reduce the total number of past-due accounts.

• Writing letters: what tone to use; how to write a reminder, an appeal, and a warning … and the appropriate uses for each.

• The accounts receivable paper trail — documentation procedures that ensure you have hard copy proof of the entire collection process.

• Internal policy check: Point by point, ensure you’re not overlooking vital contingency plans.

• Timely and on-time: Build a collection system that keeps you up-to-date and in control.

How to walk the fine line and maintain customer relationships and company image

• No gains with shame! How to collect what you’re owed and keep your customer’s dignity intact!

• Strategies to help you get through to anyone, no matter how hard a customer tries to avoid your call!

• How to avoid losing the customers your company needs to keep … and how to evaluate which customers represent valuable relationships!

• The assertive collector: how to build more positive relationships, without falling victim to manipulation.

• When a usually good credit customer lapses … how to deftly handle special situations.

• Negative words and phrases that turn people off and hinder, rather than help, your efforts!

• How to motivate with the benefits of payment, instead of the dire consequences of non-payment.

Exactly how to handle every personality, every excuse and every situation

• The basic types of debtors: Get to know them now … you’ll encounter them over and over again!

• Stallers, Jugglers, Deadbeats, Liars: tactics and strategies that work on the toughest types.

• Finding a “missing” debtor: Learn the tricks the experts use to quickly track down anyone!

• Excuses, excuses: Use these super-effective responses for virtually any excuse you’ll hear!

• Common communication mistakes: words, phrases, and approaches that don’t work … and can even stall or set back your efforts.

• Staying calm in heated situations: how to face anger, verbal attacks or criticism from unreasonable people.

• Avoiding stress and burnout: how to stay centered in a demanding, high-stress job.

Take the lead to fashion “win-win” credit compromises

• Weighing the costs of collection against debts owed: When does a collection effort become a money-losing proposition?

• Factors that determine when to negotiate and when to stand firm.

• Workable alternatives to “payment in full” … how to establish ground rules the debtor will respect.

• Negotiating strategies guaranteed to produce more favorable collection agreements.

• Listening and questioning strategies that get attention and spur action!

• How to ensure agreements stay on track and on schedule … and what to do if debtors fail to uphold their end of the bargain.

Important steps to ensure you stay well within legal bounds

• The Fair Debt Collection Practices Act: your rights, as well as your debtors’ rights, under this important federal law.

• How standards of the Consumer Protection Act affect credit and collections.

• What constitutes debtor “harassment” … and how to steer clear of this legal risk.

• Should you resort to legal action? When it makes sense and when it’s just senseless.

• Lien rights: when you have them, and how to use them.

• Don’t just say it: specific information you should always document in writing.

• Mutual Release Agreements: their unique legal attributes and appropriate uses.

• Calling in the professionals: how to work effectively with collection agencies and attorneys.