Debt Collecting Q & A

Debt Collecting Q & A - Issue 14  - Jim – We're having real problems in collecting from a couple of our larger accounts and are therefore considering turning the job over to a collections agency. However, I'm wondering it the next step in this process should be to call in a lawyer. What do you think?

Debt Collecting Q & A - Issue 13 - I am in the collections business and I am determined to become as good at it as you are. The company I work for trains us well but one of the clients I do collections for just doesn't provide us with anything to work with. What I mean is that they don't report delinquents to credit reporting agencies, nor can we threaten to have the company discontinue service. As result the delinquent account doesn't take us seriously because they know there's nothing we can do. Do you have any suggestions for getting around this problem?

Debt Collecting Q & A - Issue 12 - An information technology firm owes me almost $40 thousand for consultant work I did for them. Now they have changed the name of their firm and had a lawyer send me a letter that claims their bank has seized their assets. I know this is not true. They are still at the same location and employ the same people. They just answer the phone with a different name when I call. I don't know what to do. I always thought they were a reputable firm.

Debt Collecting Q & A - Issue 11 - When I work up the nerve to call someone about an overdue bill I always seem to fold or lose my cool as soon as the other guy throws a reason at me for why the bill hasn't been paid. Do you have any suggestions?

Debt Collecting Q & A - Issue 10  - My most important customer has always been very good about paying invoices on time. But the accountant at that company always gives me an excuse (too busy, being processed now, etc.). We keep waiting but the checks don't arrive. I have called the boss but sometimes he is out of town and can't be reached. The accountant is the person responsible for seeing that invoices are paid so how can I get her to issue checks on time?

Debt Collecting Q & A - Issue 9 - I had a realtor client who was representing a new development. I agreed to do a logo for them in order to get the contract for marketing this new development. The realtor paid half the invoice for the marketing materials and nothing more, despite sending certified letters and threatening to withhold usage of the logo. My lawyer says I have a case but his fees would be more than the amount I'm owed. And even if I did win in small claims court, would that judgment have any teeth? Would I be able to collect? Is it even worth the hassle?

Debt Collecting Q & A - Issue 8 - My company sold $3,200 worth of merchandise to another firm some six months ago. When I attempt to pursue payment I learn that the person who placed the order has left and the company claims not to have ordered the product and refuses to pay. What do I do?

Debt Collecting Q & A - Issue 7 - I'm an administrative assistant and I do bill collections for our company. Some of the owners who owe us money act like they are real big shots; they just walk all over me so I end up getting flustered, losing my composure and often I don't get the money. I've read your book, "Past Due," and gotten a lot from it, but sometimes I just can't get through those four steps in the collection call before I lose them. What should I do?

Debt Collecting Q & A - Issue 6 - How can I be sure that I've gotten to the heart of the problem when I suspect the debtor is being insincere, or even dishonest?

Debt Collecting Q & A - Issue 5   - My question is simple. I don't like to mess around so I just hand my delinquent accounts over to an attorney who sues the client right away. I either get a judgment or they pay just before the court date. Why doesn't everyone do it this way?

Debt Collecting Q & A - Issue 4  - I've had it! It's been 90 days since I sold a product to this big corporation and I haven't seen any money. When I call them I get a "human resources" person who claims to be waiting for a check to be cut by another department. On top of that she has an attitude like I'm bothering her or something. In the meantime, I'm getting ripped off. What do you suggest? "Almost Postal"

Debt Collecting Q & A - Issue 3  - My small business has grown over the past year, but the growth has also brought more past due accounts. This is the first year I've had these problems. Am I doing something wrong?

Debt Collecting Q & A - Issue 2   - I have a client who, for the most part, is an excellent customer. However, I've run into a problem. He has refused to pay a $7,500 bill, claiming that they had to hire someone else to re-do the work we did for them. I've spent a great deal of time developing this relationship and I don't want to end it. On the other hand, I don't want to be looked on as an easy mark and get taken. What should I do?

Debt Collecting Q & A – Issue #1 - I keep running into guys who say they just don't have the money. When I hear that I start to lose my resolve. What can I do?