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Debt Collection Eugene OR

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 Eugene, OR that will answer all of your questions about Debt Collection.

Matthew R Aylworth
(541) 342-2276
4023 W 1st Ave, Po Box 22338
Eugene, OR
Specialties
Debt Collection
State Licensing
Oregon, Washington

P. Rebecca Kamitsuka
(541) 465-6330
405 E 8th Ave Ste 1100
Eugene, OR
Specialties
Bankruptcy, Debt Collection, Business, Land Use & Zoning, Litigation
State Licensing
Oregon, Washington

Tracy D Trunnell
(541) 767-0929
Po Box 627
Cottage Grove, OR
Specialties
Bankruptcy, Debt Collection
State Licensing
Oregon, Washington

Pamela E Yee
(503) 642-7641
18525 Sw Vincent St
Beaverton, OR
Specialties
Debt Collection, Business, Contracts, Land Use & Zoning
Education
Lewis & Clark Northwestern Law School,Portland State University
State Licensing
Oregon, Washington

Carolyn G Wade
(503) 934-4400
1162 Court St Ne
Salem, OR
Specialties
Bankruptcy, Debt Collection
State Licensing
Oregon, Washington

Floyd C Mattson
(541) 345-2475
Po Box 7637
Eugene, OR
Specialties
Debt Collection
State Licensing
Oregon, Washington

Daniel Nathan Gordon
(541) 342-2276
Po Box 22338
Eugene, OR
Specialties
Debt Collection
State Licensing
Washington

Charles P Starkey
(503) 243-5870
111 Sw 5th Ave Ste 2300
Portland, OR
Specialties
Debt Collection, Banking, Ethics, Real Estate
State Licensing
Oregon, Washington

John Casey Mills
(877) 220-5858
111 Sw 5th Ave Ste 3500
Portland, OR
Specialties
Bankruptcy, Debt Collection, Business, Foreclosure
Education
Northwestern University School of Law,Brown University
State Licensing
Oregon, Washington

Timothy James Zimmerman
(503) 684-4111
7000 Sw Varns St
Portland, OR
Specialties
Debt Collection, Land Use & Zoning, Litigation
State Licensing
Washington

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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