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Debt Collection Kenosha WI

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 Kenosha, WI that will answer all of your questions about Debt Collection.

Thomas Santarelli
(262) 657-2000
1108 56th St
Kenosha, WI
Specialties
Debt Collection, Litigation, Business, Real Estate
Education
Wm Mitchell College,St. Mary's University of Minnesota
State Licensing
Minnesota, Wisconsin

P. Randall Knowles
209 W MADISON ST
WAUKEGAN, IL
Specialties
Civil Rights, Contracts, Debt Collection, Corporate, Personal Injury
Education
Elmhurst College,School Name Unknown
State Licensing
Illinois

Gary N. Foley
33 N COUNTY ST STE 302
WAUKEGAN, IL
Specialties
Bankruptcy, Debt Collection, Family, Criminal Defense, Speeding Ticket
State Licensing
Illinois

Mark Peter Broderick
415 WASHINGTON ST STE 204
WAUKEGAN, IL
Specialties
Appeals, Bankruptcy, Debt Collection, Commercial, Construction
Education
Thomas M. Cooley Law School,University of Notre Dame
State Licensing
Illinois

Kate Rush Zuidmulder
P.O. Box 23600, 300 E Walnut St
Green Bay, WI
Specialties
Debt Collection
Education
Wm Mitchell College
State Licensing
Minnesota, Wisconsin

Neil M. Weisbond
33 N COUNTY ST STE 302
WAUKEGAN, IL
Specialties
Bankruptcy, Debt Collection, Family, Criminal Defense, Speeding Ticket
State Licensing
Illinois

Kate K. Fraser
33 N COUNTY ST STE 302
WAUKEGAN, IL
Specialties
Bankruptcy, Debt Collection, Family, Criminal Defense, Speeding Ticket
State Licensing
Illinois

Michael A. Danforth
33 N COUNTY ST STE 302
WAUKEGAN, IL
Specialties
Bankruptcy, Debt Collection, Family, Criminal Defense, Speeding Ticket
State Licensing
Illinois

Karla Ann Chase
(920) 387-2400
44 N MAIN ST
MAYVILLE, WI
Specialties
Estate Planning, Education, Debt Collection, Real Estate, Tax
Education
Creighton University School of Law ,Creighton University
State Licensing
Wisconsin

Peter James Richter
(608) 257-2281
25 W Main St # 300, Po Box 2236
Madison, WI
Specialties
Employment, Debt Collection, Lawsuits & Disputes
Education
U of Wisconsin
State Licensing
Wisconsin

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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