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Checklist: 11 Warning Signs To Change Your Collection Strategy

Collection strategies can build you better as before.Follow these warning signs that can guide you to change and improve your collection strategy effectively.

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About this course

description
lessonOverview

One of the most useful features of attorney Robert Bernsteins' book "Get P.A.I.D., A Guide to Getting Paid Faster (and What to Do if You Don't)" is its checklists.

A good example is contained in the following table (this list can be found on pages 120 and 121 of the book). Bernstein suggests, "If three or more of these questions are answered 'Yes,' regroup and try a new strategy." He then goes on to explain, "The first six danger signs hold out hope that the debtor is still in business, but avoiding his or her creditors. The second five are more serious and require more drastic steps."

 

Warning Signs that You May Need to Change Your Collection Strategy
 
Yes No Warning Sign
Is the owner or responsible party never able to come to the phone?
Are telephone messages not returned?
Are telephone messages returned promptly, but without a payment commitment or new information?
Have new orders ceased or slowed to a trickle?
Does the customer harass your staff with unfounded complaints and arguments?
Do annual credit reports show evidence of legal suits or judgments?
Has the telephone been disconnected?
Is mail being returned?
Is certified mail unclaimed?
Has the debtor moved?
Have you received a bankruptcy notice?

 

Thanks to Robert S. Bernstein, Esq.

See also the book's own website
instructor
name title image description Ins
Credit Today www.credittoday.net      
related
image tag title description link contentType
KPIs and Reporting Checklist: 16 Signs You Should Place an Account For Collection Follow these simple signs to know when to place an account for collection.Gather all possibilities & signs for account collection placement today. https://academy.highako.com/signs-you-should-place-an-account-for-collection  
Deductions Resolution Effective Collection Call Negotiation Techniques Watch this tutorial to understand the pros and cons of different collector's behaviors, negotiations styles and approaches. https://academy.highako.com/effective-collection-call-negotiation-techniques  

 

About this course

description
lessonOverview

One of the most useful features of attorney Robert Bernsteins' book "Get P.A.I.D., A Guide to Getting Paid Faster (and What to Do if You Don't)" is its checklists.

A good example is contained in the following table (this list can be found on pages 120 and 121 of the book). Bernstein suggests, "If three or more of these questions are answered 'Yes,' regroup and try a new strategy." He then goes on to explain, "The first six danger signs hold out hope that the debtor is still in business, but avoiding his or her creditors. The second five are more serious and require more drastic steps."

 

Warning Signs that You May Need to Change Your Collection Strategy
 
Yes No Warning Sign
Is the owner or responsible party never able to come to the phone?
Are telephone messages not returned?
Are telephone messages returned promptly, but without a payment commitment or new information?
Have new orders ceased or slowed to a trickle?
Does the customer harass your staff with unfounded complaints and arguments?
Do annual credit reports show evidence of legal suits or judgments?
Has the telephone been disconnected?
Is mail being returned?
Is certified mail unclaimed?
Has the debtor moved?
Have you received a bankruptcy notice?

 

Thanks to Robert S. Bernstein, Esq.

See also the book's own website
instructor
name title image description Ins
Credit Today www.credittoday.net      
related
image tag title description link contentType
KPIs and Reporting Checklist: 16 Signs You Should Place an Account For Collection Follow these simple signs to know when to place an account for collection.Gather all possibilities & signs for account collection placement today. https://academy.highako.com/signs-you-should-place-an-account-for-collection  
Deductions Resolution Effective Collection Call Negotiation Techniques Watch this tutorial to understand the pros and cons of different collector's behaviors, negotiations styles and approaches. https://academy.highako.com/effective-collection-call-negotiation-techniques