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Debt Collection Ocala FL

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 Ocala, FL that will answer all of your questions about Debt Collection.

William Allan King
(352) 867-7707
1531 SE 36TH AVE
OCALA, FL
Specialties
Commercial, Debt Collection, Construction
Education
University of Florida, Fredric G. Levin College of Law,Florida State University
State Licensing
Florida

Ronald A. Jones
(352) 347-2288
15600 Se US Highway 441 Unit A
Summerfield, FL
Specialties
Real Estate, Probate, Wills, Power Of Attorney, Debt Collection, Elder Law, General Practice
Education
Nova Southeastern University - Shepard Broad Law Center
State Licensing
Florida

Vigor Financial LLC
(954) 699-0786
1599 SW 186th Lane
Pembroke Pines, FL

Data Provided By:
Spy Keylogger
(980) 000-0000
Lane
Town, FL
 
Better Business Bureau
(305) 827-5363
14750 NW 77th Court Suite 317
Miami Lakes, FL

Data Provided By:
Kenneth A Glaspey
(352) 304-5454
310 SE 8TH ST
OCALA, FL
Specialties
Debt Collection, Personal Injury, Bankruptcy
Education
University of Florida, Fredric G. Levin College of Law,Purdue University
State Licensing
Florida

MetLife Financial
(954) 625-1612
1200 S. Pine Island Road
Plantation, FL

Data Provided By:
Juveda Group Inc
(954) 430-6077
8910 Miramar Parkway
Miramar, FL

Data Provided By:
Lewis, Birch & Ricardo, P.A.
(727) 446-3058
1401 Court Street
Clearwater, FL
 
Peoples Credit Union
(954) 704-4100
1771 N Flamingo Road
Pembroke Pines, FL

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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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