A Few Words Could Make a Big Difference:
When you deal with your customers,
patients, clients, etc, if you have a contract, make sure you add it to your “collection costs” language*.
If you don’t have a contract, per se, add it to your invoice or statement.
If it’s NOT there,
you don’t have a chance.
While not always enforceable, it gives you a big psychological edge—and sometimes
it will defray your costs spent to recover your loss.
It can be as simple as: “unpaid accounts will be subject
to all collection costs.”
BCA Financial Services For some great year-'round collection tips and
information, don't forget to click on BCA's "Collection Blog"
Debtor
Information
When extending credit, (which is the same
as a loan), always request as much information as possible - on the chance that there is always the possibility
of default.
If nothing else, obtain your customer’s (or patient’s) Social Security Number …a
must.
Our skip-tracing sources: Experian Credit Bureau, etc. are the most accurate with the “Social” as it is known.
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