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DEBT COLLECTING Q & A
– Issue 10
By Jim Finucan
© Tiare Publications
Q) My most important customer has always been very good
about paying invoices on time. But the accountant at that
company always gives me an excuse (too busy, being processed
now, etc.). We keep waiting but the checks don't arrive. I
have called the boss but sometimes he is out of town and
can't be reached. The accountant is the person responsible
for seeing that invoices are paid so how can I get her to
issue checks on time?
A) Late payment problems always originate at the top. The
account is
only doing what she has been told to do: delay payment. You
need to
begin your collection calls right at the top – with the
president or
whoever is the head of the company. Be firm and clear: you
need
payment in full by whatever day or date and anything less is
unacceptable. If the CEO acts as though he is unaware of the
problem,
politely let him know what the situation is and that you
plan to deal
directly with him – the decision maker. Bring him into the
circle of
accountability and don't let yourself be put off or handed
over to
someone else. Then call the accountant and tell her that you
are in
direct communication with the head of the company in making
the
overdue invoice a top priority.
Communication is the key. When he says "I have lots of
work to do>"
You can say "so do I, and unfortunately that's why I'm
calling. This
bill is part of the work you need to do. It's being
neglected and I
want my money."
Make the call professional but not pleasant, so they won't
want you
to call again. People avoid uncomfortable situations yet
that's what
it takes to get through to them. Don't worry about putting
stress on
the business relationship; chances are good that it will
improve it
and their respect for you will increase.
(End)
Jim Finucan personally developed collection methods that
made him
a "top gun" bill collector. Now these powerful
techniques are
available in his book "Past Due! – A Debt Collections
Manual" More information is available at http://www.tiare.com/pastdue.htm
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