Table of Contents

Chapter 1 - Collection Tactics. 1

Overview of Collection Tactics. 1

Collection Tactics. 2

Courtesy Calls. 2

Grace Period Reduction. 3

Dunning Letters. 3

Check Payment by Fax or E-mail 4

NSF Check Resubmission. 5

Pay Undisputed Line Items. 5

Confirm Payment Date. 5

In-Person Check Pickup. 6

Take Back Merchandise. 6

Hold Orders. 6

ACH Debits. 7

Split Payments. 7

Postdated Checks. 7

Interest and Penalties. 7

Promissory Note. 8

Salesperson Assistance. 8

COD Roll 9

Barter 9

Arbitration. 9

Attorney Letters. 9

Final Demand Letter 10

Issue Small Claims Court Complaint 10

The Collection Reputation. 11

Credit Repayments. 11

The Collection Call 11

Preparation. 11

Scheduling. 12

Phone Skills. 12

Escalation. 13

Documentation. 13

In-Person Visits. 13

Review Questions. 15

Chapter 2 - The Collection Agency. 16

The Collection Agency. 16

When to Use a Collection Agency. 16

When to Refer an Account to a Collection Agency. 18

Management of a Collection Agency. 18

Selection Criteria. 18

Pricing. 19

Contract Terms. 20

Speed of Referral 20

Paperwork Support 20

Effectiveness Issues. 21

Fraudulent Customers. 21

Liability Issues. 22

Feedback Issues. 22

Bonding. 22

Payment Tracking. 22

The In-House Collection Agency. 22

Review Questions. 24

Chapter 3 - Litigation and Bankruptcy Tactics. 25

The Litigation Process. 25

Litigation Advance Preparation. 26

Litigation Prescreening. 26

Litigation Timing. 27

Collection Trigger Points. 27

Attorney Selection. 28

Small Claims Court 28

Money Judgment Collection Tactics. 29

Bankruptcy Activities. 30

Asset Reclamation. 31

Sell a Creditor Claim... 31

Chapter 11 Bankruptcy. 32

The Involuntary Bankruptcy Petition. 32

Review Questions. 34

Answers to Chapter Questions. 35

Glossary. 39

Index. 41

 

Final Examination………...........................................................................................................................................43