The Guide to Getting Paid Weed Out Bad Paying Customers, Collect on Past Due Balances, and Avoid Bad Debt

by Dunn, Michelle

• ISBN13: 9781118011614
• ISBN10: 1118011619
• Edition: 1st
• Format: Hardcover
• Copyright: 2011-05-03
• Publisher: Wiley

Summary

Over 100,000 businesses have slow or non-paying customers. How can business owners collect that money efficiently and quickly to keep money coming in? The simple answers are in this book.Readers will learn how to protect and grow their biggest asset by having an effective in-house credit policy that helps them to make more sales, increase their cash flow, and make a profit. Offering step-by-step actions for business owners and entrepreneurs to take in order to: weed out bad paying customers, increase their customer base with good paying customers, collect on past due balances, avoid bad debt, and increase their profit using credit management techniques. Business owners will be able to limit their business' credit risk and increase their bottom line.Getting Paid will help readers decide what is most important too them in regards to their customers, billing, payment terms, pricing, and cash flow. Thus, allowing them to implement procedures based on their preferences that will work best for them, their business, their vendors and customers. Steps include:Step 1: Understand what credit management or credit policies are; the objectives; and how it affects their business and customers.Step 2: Learn what affects a business' cash flow and how to manage itStep 3: Write your own Credit Policy (this is where most business owners run for the hills)Step 4: Improve your bottom line using credit management

Author Biography

Michelle Dunn is an internationally known expert on credit and collections. As a leading authority on debt collection to businesses everywhere, Michelle is a consultant and keynote speaker. She is founder and CEO of the American Credit and Collections Association and has worked in the industry for more than twenty years. She has been featured in Forbes, Entrepreneur, and SmartMoney, among other media outlets. Most recently, she was nominated for a Credit Excellence Award.

Table of Contents

Foreword	p. ix
Preface	p. xiii
What Is Credit Management?	p. 1
How Credit Affects Business	p. 65
Effective Payment Arrangements	p. 77
Handling Customer Deductions	p. 101
Debt Collection Calls	p. 109
Using E-Mail in Collections	p. 119
Using Social Media in Collections	p. 145
Third Party Collection Services	p. 157
Debt Collection Laws, Rules, and Regulations	p. 169
Conclusion	p. 197
About the Author	p. 201
Index	p. 203
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