Avionics News June 2014 - 76
feature
7
Debt Collection Tips
SIGNS
it's time to use
a collection agency
W
EDITOR'S NOTE:
The following article is republished
with permission from the
C2C Resources blog,
which is located at
www.c2cresourcesblog.com.
C2C Resources provides Aircraft
Electronics Association members
with debt-collection services at a
member-discounted rate. Visit the
C2C Resources website at
www.c2cresources.com to see
how its programs can benefit your
company. For more information,
contact Sven C. Nelson, managing
partner for C2C Resources, at
866-341-6316 or email
snelson@c2cresources.com.
76
avionics news
*
june
2014
hen should you place an account with a collection agency?
It's not unusual for creditors to be uncertain about when to involve a
commercial collection agency to resolve a debt. How soon is too soon?
How late is too late? You want to be fair, but what is fair?
It's safe to say that if an account is 90 days past due (120 days past the date of the
invoice), you should consider placement with a commercial debt collection agency. This is
especially true if the customer hasn't initiated a response to your prior attempts to engage.
Take a step back and analyze the account. Pay close attention if you are experiencing
the following:
1. Your customer breaks two or more promises of payment.
2. Your customer's telephone is disconnected.
3. Your customer makes repeated requests for documentation
that he or she already has. This is a common stall tactic.
4. Your customer ignores your terms of sale. If your customer sets his own payment
rules, ignoring the terms to which he agreed, remind him of the agreement
and request immediate payment. If he refuses, turn the account over.
5. Your customer refuses to provide a specific date for payment
or to initiate a realistic payment schedule.
6. Your customer suddenly introduces a dispute late in the process of collection.
Problems with services or product should be addressed immediately. If
a customer throws this wrench late in the game, it's a stall tactic.
7. You're in danger of investing more time than the debt is worth. If the hours and
effort are adding up, stop and contact an agency.
When you spot the above danger signs, your best chance for collecting your money is
to place the account with a licensed collection agency. The sooner, the better.
The chart on the opposite page may assist you in the process. q
http://www.c2cresourcesblog.com
http://www.c2cresources.com
Avionics News June 2014
Table of Contents for the Digital Edition of Avionics News June 2014
Point of Communication
AEA Now
The View from Washington
International News and Regulatory Updates
Standby Glass
Member Profile
Moving Forward
Ongoing Evolution
ADS-B Installations are Beginning to Take Off
Member Profile
What's Working?
Business Basics
Seven Signs it's Time to Use a Collection Agency
What's New
Marketplace Classifieds
Avionics News June 2014 - Intro
Avionics News June 2014 - Cover1
Avionics News June 2014 - Cover2
Avionics News June 2014 - 1
Avionics News June 2014 - 2
Avionics News June 2014 - 3
Avionics News June 2014 - Point of Communication
Avionics News June 2014 - 5
Avionics News June 2014 - AEA Now
Avionics News June 2014 - 7
Avionics News June 2014 - 8
Avionics News June 2014 - 9
Avionics News June 2014 - 10
Avionics News June 2014 - 11
Avionics News June 2014 - 12
Avionics News June 2014 - 13
Avionics News June 2014 - The View from Washington
Avionics News June 2014 - 15
Avionics News June 2014 - International News and Regulatory Updates
Avionics News June 2014 - 17
Avionics News June 2014 - 18
Avionics News June 2014 - 19
Avionics News June 2014 - Standby Glass
Avionics News June 2014 - 21
Avionics News June 2014 - 22
Avionics News June 2014 - 23
Avionics News June 2014 - Member Profile
Avionics News June 2014 - 25
Avionics News June 2014 - 26
Avionics News June 2014 - 27
Avionics News June 2014 - Moving Forward
Avionics News June 2014 - 29
Avionics News June 2014 - 30
Avionics News June 2014 - 31
Avionics News June 2014 - 32
Avionics News June 2014 - 33
Avionics News June 2014 - 34
Avionics News June 2014 - 35
Avionics News June 2014 - 36
Avionics News June 2014 - 37
Avionics News June 2014 - 38
Avionics News June 2014 - 39
Avionics News June 2014 - 40
Avionics News June 2014 - 41
Avionics News June 2014 - 42
Avionics News June 2014 - 43
Avionics News June 2014 - 44
Avionics News June 2014 - 45
Avionics News June 2014 - 46
Avionics News June 2014 - 47
Avionics News June 2014 - 48
Avionics News June 2014 - 49
Avionics News June 2014 - Ongoing Evolution
Avionics News June 2014 - 51
Avionics News June 2014 - 52
Avionics News June 2014 - 53
Avionics News June 2014 - 54
Avionics News June 2014 - 55
Avionics News June 2014 - ADS-B Installations are Beginning to Take Off
Avionics News June 2014 - 57
Avionics News June 2014 - 58
Avionics News June 2014 - 59
Avionics News June 2014 - 60
Avionics News June 2014 - 61
Avionics News June 2014 - 62
Avionics News June 2014 - 63
Avionics News June 2014 - Member Profile
Avionics News June 2014 - 65
Avionics News June 2014 - What's Working?
Avionics News June 2014 - 67
Avionics News June 2014 - 68
Avionics News June 2014 - 69
Avionics News June 2014 - Business Basics
Avionics News June 2014 - 71
Avionics News June 2014 - 72
Avionics News June 2014 - 73
Avionics News June 2014 - 74
Avionics News June 2014 - 75
Avionics News June 2014 - Seven Signs it's Time to Use a Collection Agency
Avionics News June 2014 - 77
Avionics News June 2014 - 78
Avionics News June 2014 - 79
Avionics News June 2014 - What's New
Avionics News June 2014 - 81
Avionics News June 2014 - 82
Avionics News June 2014 - 83
Avionics News June 2014 - 84
Avionics News June 2014 - 85
Avionics News June 2014 - Marketplace Classifieds
Avionics News June 2014 - 87
Avionics News June 2014 - 88
Avionics News June 2014 - Cover3
Avionics News June 2014 - Cover4
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