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Debt Collection Fenton MO

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 Fenton, MO that will answer all of your questions about Debt Collection.

Margaret Anne Farrell
(314) 965-1800
13610 Barrett Office Dr, Ste 203
St. Louis, MO
Specialties
Debt Collection, Social Security, Immigration, Bankruptcy
Education
Saint Louis University School of Law,Marquette University
State Licensing
Missouri

Jeffrey Ray Swaney
(314) 481-7778
Suite 205, 3460 Hampton Ave.
St. Louis, MO
Specialties
Social Security, Debt Collection, Workers Compensation, Bankruptcy, Personal Injury
Education
Saint Louis University School of Law,Saint Vincent College
State Licensing
Missouri

Mark Steven Rohr
121 W LEGION AVE
COLUMBIA, IL
Specialties
Family, Criminal Defense, State, Local And Municipal Law, Litigation, Debt Collection
Education
Blackburn College,Saint Louis University
State Licensing
Illinois

Daniel Ellis Champion
(816) 373-8278
5600 Ne Oaks Ridge Ln
Lees Summit, MO
Specialties
Debt Collection, Ethics, Litigation
Education
University of Michigan
State Licensing
Texas

Meredith Morrow Illa
(573) 769-4298
406 S. Dickerson St
Palmyra, MO
Specialties
Social Security, Debt Collection, Workers Compensation, Divorce, Real Estate
Education
University of Missouri - Kansas City School of Law,University of Missouri, Kansas City
State Licensing
Missouri

Shelley Renee Porter
(314) 628-1177
12460 Olive Boulevard Suite #118
St. Louis, MO
Specialties
Debt Collection, Landlord & Tenant
Education
St. Louis University School of Law
State Licensing
Illinois, Missouri

Andrea Crowder Khoury
121 W LEGION AVE
COLUMBIA, IL
Specialties
Family, Debt Collection, Litigation, Criminal Defense, Juvenile
Education
Saint Louis University,Washington University in St. Louis
State Licensing
Illinois

absolute foreclosure help
(314) 303-7165
422 east main
festus, MO
 
Robert James Wise
(816) 942-5925
12624 St. Andrew Drive
Kansas City, MO
Specialties
Debt Collection, Landlord & Tenant
Education
University of Missouri - Columbia School of Law
State Licensing
Missouri

Scott Alan Mcglasson
(816) 472-4333
819 Walnut, Suite 309
Kansas City, MO
Specialties
Debt Collection
Education
Washburn University
State Licensing
Texas

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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