|
Favorits •
Web Domain Directory •
ODP •
Annuaire FR •
Directorio ES •
Directory EN •
Diretório PT •
IT Katalog •
Czech Katalog •
Polski Katalog •
Maps •
Satellite Photos •
View Card
|
||
|
|
Sales Management |
|
|
| ||
 |
The Differences Between A Commercial Collections Agency & Lawyer
If your letter writing and phone calls have all failed to resolve a debt issue, it is time to call in a professional - a commercial collection agency or a lawyer specializing in commercial debt collection. The most obvious choice to collect an unpaid debt is a commercial collection agency. Agencies come in all sizes; some are local, some specialize in handling certain kinds of commercial debts and others are national in scope. The cost varies, depending on the volume of business you bring to the table and the amount of debt that is to be collected. Plan on paying 25 to 30 percent of the amount collected, with some agencies demanding a 50-50 split. Some commercial collection agencies offer a flat fee service that can help sift out some of the easier commercial debt to collect before paying a high percentage. A commercial collection agency will take many of the same actions against the debtor that you have probably taken. Third-party commercial collectors are aided by specialized phone systems, computers and software designed to automate the process and make it more effective and cost-efficient in retrieving payment on delinquent accounts. A series of letters will be generated sternly warning of the consequences of ignoring repayment. Phone calls will be made to deliver the same message. There are also lawyers who specialize in commercial debt collection. They can be more effective than a collection agency, especially if the debt needs legal action immediately. An collections attorney may charge an hourly fee or collect at least one third of the amount recovered, or both. Attorneys usually charge a minimum fee or require the debt be of a minimum amount. Payment to the attorney will be in addition to any court-related fees and charges connected with a lawsuit, if you decide to pursue a judgment in court. If you're not willing to take your customers to court over a past-due account, then there's probably no reason to hire an attorney. Most companies refer debt to a commercial collection agency first and then turn to an attorney if the agency can't do the job. The price of a collecting a debt depends on the complexity and magnitude of the commercial collection. Often a debt can be collected with a few commercial collection letters from a commercial collection agency. Whether you choose to use a commercial collection agency or a lawyer to recover the money you are owed, be sure to ask for a client list before getting started. A decision to hire should not be based totally on price or percentage -- sometimes the promise of a higher fee can help motivate the collector to bring in more cash. Get free information and advice on commercial collections.
MORE RESOURCES: |
|
|
|
RELATED ARTICLES
Business Career, Executive Coaching Article - Perfection vs. Excellence "(Howard) Hughes never learned how to convert his knowledge to practical application. Instead he sought a perfection that assured failure. Are Your Sales Meetings Boring? Many sales meetings are boring and a waste of salespeople's time, say the majority of salespeople I interview. A review of what's going on in the market is good to know, but to be effective, sales meetings need to be a lot more than that venues for quick market updates. Management From Within Inspiration and Management from Within - Part 2.The more you follow the path of exploration into the mystery of life, the more life becomes revealed to you. Not Enough Fresh Sales Leads? Marketing is the New Sales Your sales are down and leads are rare. The phone's not ringing. How to Sharpen Your Sales Message with Do-it-Yourself Focus Groups - Small Business Power Tools You've probably heard of focus groups. It's a tool that the big guys use to quickly test a new product or service or to get fast feedback from potential customers. Seven Deadly Sales Mistakes That Cost Business Owners Big Money - And What To Do About Them 1. LOOKING for a "quick fix" to close more sales - sales aren't closed, they're opened. A Coachs Handbook For Sales Managers This article may be reprinted in its entirety with express written permission from Nicki Weiss. The reprint must include the section "About the Author". Train a Winning Sales Team: Rounding Third and Heading for Home Although I never met the man, I imagine Lou Boudreau would have made one heck of a field sales trainer. In 1942 the 24-year old Cleveland Indians shortstop was promoted to player/manager of his team, and for the next eight years Boudreau did what we, as trainers, are called upon to do every day: demonstrate success, inspire success and cultivate success. Speed-up Your Sales Cycle This week's article is my response to a question by David Cohen of Bridge-Soft. "Quite a few prospects have told me that business is stagnant at the moment, but they are hopeful towards the 4th quarter. Beyond the Golden Rule There are several types and sub types of people in the world. Getting to understand the differences will help you connect with other people. Project/Program Management Best Practices for Success in ANY Industry! Where is our success? Although there have been improvements, over 60% of projects/programs failed and many were canceled in 2003 (ref:The Standish Report CHAOS)! Our goal for 2004 and beyond is to contribute to a 60% and better, project/program success rate! STOP THE MADNESS-MANAGE AND CONTROL PROJECTSWITH THE FOLLOWING:Best Practice Processes for Project/Program Success(Outline):Program/Project Management (and Business Management) (Integration)Use of Experience and Knowledge (Integration)Planning and Scheduling/WBS (Scope/Time/Cost)Communication Planning (Communication)Status & Earned Value Reporting (Communication)Performance (metrics) Reporting (Communication)Risks Identification and Management (Risks)Project Repository/DB (Communication/Lessons Learned/Knowledge Transfer)Change Management (Integration)Subcontractor/Vendor Control (Procurement)Team Building (Human Resource)Development Process (Integration/Solution/Scope)Selection of the appropriate model/technique (e.g. Retail Operations - Effective Branch Manager Support and Guidance Performance and behaviour management is by far the most difficult aspect of any manager's job and the reluctance to 'grasp the nettle' when performance or behaviour issues emerge is certainly a concern in many organisations. But at the end of the day that is what managers are paid to do and not doing so will certainly affect service, team morale, sales and ultimately the bottom line. Keeping Your Sales Team Motivated Sales managers frequently approach me for advice on how to keep salespeople motivated, especially when sales reps get into a rut - and seem to keep slipping deeper into it. Telling managers what not to do usually solves the problem. Management by Osmosis Sales managers are an interesting breed, effective sales managers are a rare breed. Managing a sales team is entirely different than managing other groups; their role requires them to have not only above average management skills, but also above average ability to manage the overall sales process. Is Your Forecast Too Sunny? How to Improve the Accuracy of Sales Forecasts As spring moves to summer, the forecast should be for warmer and sunnier weather. What is the forecast for your business? Is the outlook sunny or cloudy?Do you know what sales you can expect, whether for a team of sales people or within your own business or practice? How do you feel about putting together a forecast? How do the others in your business feel? I wonder why you have these feelings?Forecasting is vital for any business - well, accurate forecasting is vital!! This is true for professional services as well as commercial organisations. Leadership Lessons for Sales Managers Leadership, like class, is hard to define, but easy to spot.Someone once defined management as "the effective coordination of the efforts of the individuals in a group to accomplish that stated objectives of the organization. How To Use A Powerful Leadership Tool To Step Up Sales Results Good sales people can close, but few "step up" for even more sales from that close. Yet stepping up should be one of the easiest accomplishments in sales - that is if you know how to build the staircase. How Your 60-Second Elevator Script Can Transform Your Staff, Your Sales, & Your Business When attending a Chamber of Commerce breakfast networking get-together, I'm always perplexed by the lack of thought and preparation many business owners display when giving a 60-second overview of their business. These people have spent enormous amounts of time, money, and energy on their businesses. The Spirit Of Change A Highly Conscious Approach To Business Management. For more on this topic please link to Innerwealth Web SiteFor many years I have worked with people who are keen to work effectively as possible. Increase Your Sales - Accept Credit Cards Many people today simply prefer the convenience of paying by credit card. If you want their business, you must be able to accept their credit-card payments.
|