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Debt Collection Carmel IN

This page provides useful content and local businesses that can help with your search for information on Debt Collection. You will find helpful, informative articles about Debt Collection, including "Collect Your Money - On Time!". You will also find local businesses that provide the products or services that you are looking for. Please scroll down to find the local resources in Carmel, IN that will answer all of your questions about Debt Collection.

Aaron Michael Cook
(317) 770-0000
9200 KEYSTONE XING STE 150
INDIANAPOLIS, IN
Specialties
Libel, Debt Collection, Family, Estate Planning, Litigation
Education
Indiana University School of Law, Indianapolis,Wabash College
State Licensing
Indiana

Ronald B. Brodey
(317) 574-0700
9247 N MERIDIAN ST STE 200
INDIANAPOLIS, IN
Specialties
Personal Injury, Wrongful Death, Debt Collection, Mediation
Education
Indiana University School of Law, Bloomington,Indiana University
State Licensing
Indiana

Paul Richard Rauch III
(317) 639-4511
10 West Market Street, Suite 700
Indianapolis, IN
Specialties
Health Care, Debt Collection, Corporate, Administrative Law, Business
Education
Indiana University School of Law, Indianapolis,Florida State University,Wabash College
State Licensing
Indiana

Lisa Marie Garrott
(260) 356-4100
533 WARREN ST
HUNTINGTON, IN
Specialties
Debt Collection, Estate Planning, Probate, Tax, Bankruptcy
Education
Valparaiso University School of Law,Purdue University
State Licensing
Indiana

Angela Foster Parker
(812) 332-4200
400 West 7th Street, Suite 104
Bloomington, IN
Specialties
Business, Employment, Litigation, Real Estate, Debt Collection
Education
Indiana University,Indiana University School of Law
State Licensing
Indiana

Russell Lewis Jones
(317) 573-8888
8888 Keystone Crossing Blvd, Suite 800
Indianapolis, IN
Specialties
Real Estate, Business, Personal Injury, Debt Collection, Litigation
Education
Indiana University School of Law, Indianapolis,Eastern Kentucky University
State Licensing
Indiana

Gregory Matthew Halcomb
(317) 773-5997
83 South 9th Street
Noblesville, IN
Specialties
Real Estate, Estate Planning, Business, Debt Collection, Litigation
Education
Indiana University School of Law, Indianapolis,Butler University
State Licensing
Indiana

AMERICAN UNITED SYSTEMS INC
(866) 251-6012
P.O BOX 4356
SOUTH BEND, IN
 
William Joseph Barkimer
(260) 425-1667
200 E MAIN ST STE 800
FORT WAYNE, IN
Specialties
Litigation, Debt Collection
Education
Indiana University School of Law, Bloomington,Ohio Northern University
State Licensing
Indiana

William Joseph Barkimer
(260) 425-0800
200 East Main Street, Suite 800
Fort Wayne, IN
Specialties
Litigation, Debt Collection
Education
Ohio Northern University,Indiana University School of Law
State Licensing
Indiana

Collect Your Money - On Time!


by Mike Burstein

Most SOHO and small business owners don't have the financial resources to wait for their customers to pay them. The inability to collect money in a timely manner is a leading reason for small business failures.

It's easy to fall into the trap of believing that if you don't offer relaxed payment options your customer will go elsewhere with their business. You may lose some business because of a strong financial policy but good customers aren't frightened off by realistic repayment terms.

Creating and enforcing a sound financial policy for your company should not be ignored - the consequences are far too severe! The service or products that you provide will limit some of your options but no business is precluded from collecting their hard earned money in a reasonable time frame.

The following list will help you as you formulate your company's financial policy:

1. Do you clearly explain payment terms to your customers before a transaction is completed?

2. Does your business lend itself to offering a cash discount vs. 30 day billing?

3. Do you accept credit cards?

4. Do you get proper ID with checks, including home and office phone numbers?

5. Do your customers sign a contract for your services?

6. Does your contract clearly state payment terms, including default remedies?

7. Does your credit application clearly state payment terms, including interest rate, late penalties and collection fees?

8. Do you order a credit report on new customers who request a line of credit?

9. Do you give customers credit without having them fill out a credit application?

All of the above items can be used to help build a sound financial policy. The cost of an attorney reviewing your contracts and credit application will be money well spent the first time you are faced with forcing a customer to pay in court.

Most business's wait too long before attempting to collect their money. Unfortunately, this just makes it harder to collect. It is not unreasonable to call your customer immediately when they miss a promised payment. Don't waste time with a customer who continually lies to you and breaks promises to pay.

Once you have determined that you cannot collect your money, engage a professional debt collection agency to handle the debt. Even if you have to pay 25% of the money to the agency, you are better off than holding onto the debt in the forlorn hope that your customer will pay you someday - it just doesn't happen!

An easy way to calculate whether the cost of a professional debt collector will be worthwhile is to use the following formula:

Examples - your customer owes you $1000

1. You hold on to a delinquent account hoping your customer will pay:

You collect $0.00

100% of 0.00 = nothing

2. You turn the debt over to a collection agency after making several calls & sending letters - the agency charges a 25% contingent fee:

The agency collects $1000.00

75% of $1000 = $750.00

Obviously, yo...

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