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Debt Collection Strategies That Work

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Alex Barthet

on 20 August 2016

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Transcript of Debt Collection Strategies That Work

Contact delinquent account holders immediately, both verbally and in writing
Get your agreement in writing, including all payment terms
Limit your exposure
by limiting credit to delinquent account holders
How to Grow A Money Tree
Expressly condition
any discount or credit on payment by a date certain
Do not delay the initiation of legal remedies and retention of legal counsel
Avoid emotional decision making during the collection process
10 Debt Collection Strategies That Work
Secure the debt with lien or bond rights, guaranties, or a UCC1
Bill regularly
Resolve disputes over the quality of goods and services quickly and document the resolution
Deal with the decision makers when negotiating extended payment terms or a settlement
Employ all 10 strategies to maximize your debt collection efforts
...and if you need a construction lawyer,

Better, not bigger
Alex Barthet
Board Certified Construction Lawyer
Alex Barthet
Full transcript