Then you need to Become the Squeaky Wheel! This Credit and Collections Guide for Everyone is loaded full of tools that will help you:

• Improve your collection techniques and procedures

• Learn how to read a credit report

• Learn how to extend credit

• Learn Federal and State credit laws

• Learn about interest and late fees

And most importantly, learn how to be in control of your accounts receivable and not let it control you. The clear benefit of this book is to help you obtain and retain good paying customers, therefore enabling you to spend more time at what you are good at and increase your cash flow. This great jam- packed book includes all the laws you need to know when collecting money.

This is a valuable Manual you will want to keep on your desk and refer back to time after time.

The longer you donÆt do anything about getting paid, the chances you will get paid are much less. This book is to help you, the business owner to keep your customers, and get paid. Having a credit and collections policy sets a positive credit tone for your business. It also lets potential customers know that you mean business!

DonÆt let your slow paying customers control you, itÆs up to you to take the wheel and drive.

Some FAQ that are covered in chapters of the book:

How common is it that there is consistently problems collecting money from customers?

Some business owners, especially new business owners are so eager for a sale that they donÆt document or discuss payment, then they donÆt want to offend the customer by asking for their money.

Is it worth it for a small business to attempt to go after the money due to them?

It depends on the amount of the bill and what information you already have on the customer. Such as contact information so you can get a hold of them or even take them to small claims court.

What legal issues are involved with collecting your money?

You will have to follow the FDCPA, Fair Debt Collection Practices Act and any laws in your state. Also you should also have a contract or signed agreement to protect yourself.

What are some of the ways a company can protect themselves or precautions they can make? Should they change the way they do business in any way?

Always get a credit application and check references if extending credit. Have a good credit policy and stick to it!

What are the steps that a company needs to take to collect money due to them?

If your calls or letters donÆt prompt payment, you can sue them in small claims court or place them for collection. 

TIP:

Be firm about being paid from the beginning. If a debtor knows you are serious, they will be more likely to pay. If they had to fill out a credit application and/or contract, it shows your serious. If you place accounts for collection sooner than later, that also shows you mean business.

Debtors will know you are serious if:

They had to fill out a Credit Application

They had to sign a contract

They receive invoices right away.

Become the Squeaky Wheel, A Credit & Collections Guide for Everyone

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