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

Stuart Schaefer
(513) 277-0506
32 Burns Ave
Cincinnati, OH

Data Provided By:
Rachel Jill Mason
11340 MONTGOMERY RD STE 210
CINCINNATI, OH
Specialties
Commercial, Debt Collection, Bankruptcy
Education
Pennsylvania State University, Dickinson School of Law,Lehigh University
State Licensing
Ohio

Jonathan Aaron Mason
(614) 734-9450
11340 MONTGOMERY RD STE 210
CINCINNATI, OH
Specialties
Debt Collection
Education
University of Cincinnati
State Licensing
Ohio

Kyle Michael Rapier
(513) 892-3400
315 South Monument Avenue
Hamilton, OH
Specialties
Juvenile, Child Abuse, Debt Collection, Wrongful Death, Personal Injury, Criminal Defense, Debt Settlement, Domestic Violence, Foreclosure, Landlord & Tenant, Real Estate, Speeding Ticket, Wills
Education
Thomas M. Cooley Law School
State Licensing
Ohio

Andrea M Palmer
(859) 394-6200
2407 ASHLAND AVE
CINCINNATI, OH
Specialties
Commercial, Banking, Debt Collection
Education
Northern Kentucky University,Salmon P. Chase College of Law
State Licensing
Ohio

Jeremy Richard Mason
11340 MONTGOMERY RD STE 210
CINCINNATI, OH
Specialties
Debt Collection, Bankruptcy, Banking
Education
Ohio State University Moritz College of Law,Cornell University
State Licensing
Ohio

Richard Daniel Schilling
11340 MONTGOMERY RD STE 210
CINCINNATI, OH
Specialties
Debt Collection, Commercial, Banking, Bankruptcy
Education
University of Cincinnati
State Licensing
Ohio

Stephen Sloneker Marcum
300 HIGH ST STE 704
HAMILTON, OH
Specialties
Banking, Real Estate, Debt Collection, Insurance
Education
University of Dayton School of Law,Vanderbilt University
State Licensing
Ohio

John Arthur Schuh
2662 MADISON RD
CINCINNATI, OH
Specialties
Bankruptcy, Debt Collection, Commercial, Real Estate, Probate
Education
Ohio University,Salmon P. Chase College of Law, N.K.U.,St. Xavier High School
State Licensing
Ohio

Tabitha Maggard Hochscheid
(513) 533-1322
2321 KEMPER LN STE 100
CINCINNATI, OH
Specialties
Debt Collection, Fraud, Commercial, Insurance, Bankruptcy
Education
Salmon P. Chase College of Law
State Licensing
Ohio

Data Provided By:

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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