Custom Search
EntrepreneurismBible.com home general business articles business marketing/promotion customer service, CRM branding joint venture financial management general and inspirational stress management health links inspirational articles Internet Business website design website promotion

Debt Collection Cleveland OH

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 Cleveland, OH that will answer all of your questions about Debt Collection.

Owen E. McCafferty, CPA, Inc.
(440) 779-1099
30980 Lorain Rd
N Olmsted, OH
 
William Charles Ferry
(440) 331-1221
20325 Center Ridge Rd, Suite 708
Rocky River, OH
Specialties
Wills, Debt Collection, Business, General Practice
Education
Cleveland State University,Case Western Reserve University
State Licensing
Ohio

Taylor Michele Wesley
1350 EUCLID AVE RENAISSANCE OFFICE TWR
CLEVELAND, OH
Specialties
Business, Debt Collection, Trusts
Education
Case Western Reserve University,Dickinson College
State Licensing
Ohio

Charles Patrick Royer
(216) 696-1422
101 W PROSPECT AVE STE 1800
CLEVELAND, OH
Specialties
Litigation, Business, Construction, Debt Collection, Land Use & Zoning
Education
University of Pittsburgh School of Law,Indiana University of Pennsylvania
State Licensing
Ohio

Jeffrey Eric Dubin
1100 SUPERIOR AVE E FL 19
CLEVELAND, OH
Specialties
Debt Collection, Bankruptcy, Business, Litigation
Education
Cleveland State University - Cleveland-Marshall College of Law,State University of New York, Buffalo
State Licensing
Ohio

Robert Michael Stefancin
(216) 394-5068
1350 EUCLID AVE RENAISSANCE OFFICE TWR
CLEVELAND, OH
Specialties
Debt Collection, Trusts, Business, Investment Fraud, Arbitration
Education
Case Western Reserve University,Washington and Jefferson College
State Licensing
Ohio

Marie Colette Gibbons
1350 EUCLID AVE RENAISSANCE OFFICE TWR
CLEVELAND, OH
Specialties
Debt Collection, Corporate, Business
Education
Cleveland State University - Cleveland-Marshall College of Law,John Carroll University
State Licensing
Ohio

David Andrew Head
(216) 739-5006
323 W. Cleveland Ave., Ste. 200
Cleveland, OH
Specialties
Debt Collection
Education
Ashland University,Cleveland State University
State Licensing
Ohio

Bruce Alan Block
1100 SUPERIOR AVE E FL 19
CLEVELAND, OH
Specialties
Debt Collection, Bankruptcy, Business, Litigation
Education
American University,Case Western Reserve University
State Licensing
Ohio

Eric R. Goodman
(216) 861-7418
1301 E 9TH ST GALLERIA/TOWER AT ERIEVW
CLEVELAND, OH
Specialties
Business, Bankruptcy, Debt Collection
Education
University of Michigan Law School,Hope College
State Licensing
Ohio

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...

Click here to read the rest of this article from EntrepreneurismBible.com


Website Developed and Hosted By:
International Cyber Business Services, Inc.
Developers of holisticonline.com, 1stHolistic.com, GrandmasRemedies.com and SpecialGifts.com
Copyright © 1996-2008, ICBS, Inc. All Rights Reserved.