Collection Management Handbook: The Art of Getting Paid, 2nd Edition

No matter how successful a sales operation is, if customers don't pay their bills, the company is left holding the bag. Companies across the country are out billions of dollars in delinquent money. This book shows companies how to use a variety of new credit collection techniques to successfully collect their outstanding bills.

For most of today’s successful companies, the overriding corporate mission is to generate new customers and dazzle creditors with new technology. But maintaining a healthy bottom line isn’t the sole province of sales and marketing. The fact is, more than any other aspect of a business, the management of receivables–or getting existing customers to pay and avoiding bad debt write-offs–can mean the difference between profits and peril.

You don’t have to be gifted to be a great credit collector. Experience isn’t necessarily the answer, either. All you need is a desire to learn from the best...and that’s the level of expertise this exhaustively researched volume puts right at your fingertips. The Collection Management Handbook: The Art of Getting Paid, Third Edition, by consummate bill collector and bestselling author A. Michael Coleman, puts you on the fast track to becoming a debt recovery dynamo. Drawing on actual cases from the collection industry’s top achievers, this expanded edition redefines collection methodology. Focusing on multiple avenues of strategic creditor recourse, it goes beyond yesterday’s dunning notices, showing you how to extract money from the most hard-to-reach nonpaying customers.

The Third Edition features an indispensable set of new tools: easy-to-implement strategies on utilizing small-claims courts nationwide; expanded investigative resources; a look at recovery of money judgments; and much more. You’ll get up to speed on potent legal remedies, including how to initiate an impleader action, which trumps the "I can’t pay you because I haven’t been paid" excuse. There’s also an accounts receivable exam/solutions gauge, which arms you with the legal knowledge and strategic insight to go after the worst debtor offenders.

In the credit-granting arena, the book offers plenty of simple creditor-shielding methods designed to prevent a bad debt, while emphasizing that the science of receivables management hinges on numerous persuasion skills, from negotiation to intimidation.

The ultimate goal of any professional bill collector is simple: to turn credit sales into bank deposits. The trick is to multiply your debt recoveries when your livelihood depends on it. For that, you can depend on the Collection Management Handbook.