Collecting Old Debts

Well we all know how hard it can be to collect on old debts especially when customers don’t answer emails or phone calls. As time dilates debts become harder and harder to collect and almost impossible to recover. How do you leverage debtors to pay delinquent accounts and force them to bring their accounts to a close? Here are a few tricks to recover those old debts using some real time tactics below. These tools at hand will aid in your pursuit for repayment along with some useful information and links. As your delinquent accounts enter the black hole of un-collectability you can and will find these methods suitable and valuable. Question, should your services should go without compensation! You should be paid and compensated for your time so don’t get caught up in hopeless excuses from vendors and clients as they enter the slow malaise of collections. Here are some quick ways to counter your customer’s ambivalent policies on accounts payable below. You will find these measures to set a clear understanding of why they should pay on time, without intentionally dericing their business plan or accounting policies. As we all know every company has its own set of complex problems, principles, and models that do not always fit your mold. The goal here is a method to retard account delinquencies without hemorrhaging capital.

Let’s start with the most common tactic used in today’s marketplace, Collections. As common as this resource is we find it rarely used and probably one of the most remarkable and effective ways to collect bad debts to date. As the electronic landscape changes the ease of submitting debtor’s information from your desktop becomes increasingly easier and easier. We recommend old debts.com. Simply enter the debtors name and address along with a phone # and Wa’La you have successfully sent an old debt to collections. Old Debts.com has one of the simplest electronic delivery methods available. Their fee for sending 4 letters multiple phone calls and credit reporting is 43 dollars. Secondly, we have Associations and Affiliations. This is another very powerful tool to compel business owners to render payment.

Please understand this method should only be used if your efforts to collect have been ignored through the collection process. Using this method will impede your ability to work with this company again and will cause paralysis. Most associations or affiliations have a website where you can post comments on forums in regards to non-payment issues. This is not an arena to threaten, slander, or defame a business owners or its staff. Keep your comments professional direct and to the point. In addition to affiliations and associations, updating company conduct on the better business bureaus website should be done to inform future customers of payment issues. Also filing a complaint with the Attorney General can help mitigate recovery of any delinquencies. If the business or corporation has closed or filed bankruptcy then you will need to hire an attorney to recover the debt. If the debt is under five thousand dollars then filing suit in district court can be done without an attorney. You can also garnish his or hers wages in addition to getting a judgment, however you will need to consult with an attorney or pre-paid legal counsel for specifics.