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

Anastasia Kay Hanson
(419) 241-2201
608 MADISON AVE NATIONAL BANK BLDG
TOLEDO, OH
Specialties
Employment, Commercial, Litigation, Debt Collection, Workers Compensation
Education
University of Toledo,University of Toledo,University of Toledo
State Licensing
Ohio

Laurie Jean Pangle
(419) 241-2201
608 MADISON AVE NATIONAL BANK BLDG
TOLEDO, OH
Specialties
Banking, Business, Debt Collection, Real Estate
Education
Valparaiso University School of Law,University of Toledo,University of Michigan
State Licensing
Ohio

Howard Bruce Hershman
(419) 244-8336
Suite 930 608 Madison Avenue
Toledo, OH
Specialties
Commercial, Bankruptcy, Debt Collection, Litigation, Banking
Education
Ohio State University, Columbus,University of Toledo
State Licensing
Ohio

Kenneth Charles Baker
(419) 247-1656
ONE SEAGATE, 24TH FLOOR PO BOX 10032
TOLEDO, OH
Specialties
Investment Fraud, Mergers & Acquisitions, Debt Collection, Financial Markets And Services, Lawsuits & Disputes
Education
Miami University of Ohio,Ohio State University College of Law Columbus OH
State Licensing
Ohio

Steven Mark Burke
4930 N HOLLAND SYLVANIA RD PACESETTER SQUARE
SYLVANIA, OH
Specialties
Real Estate, Foreclosure, Debt Collection, Bankruptcy, Personal Injury
Education
Thomas M. Cooley Law School,Ohio State University, Columbus
State Licensing
Michigan, Ohio

Janna Elizabeth Waltz
(419) 243-3755
405 N. Huron St., Suite 200
Toledo, OH
Specialties
Contracts, Debt Collection, Probate, General Practice
Education
University of Toledo
State Licensing
Florida, Ohio

John P. Gouttiere
(419) 244-8620
520 Madison Ave Ste 1026
Toledo, OH
Specialties
Business, Real Estate, Debt Collection, Bankruptcy, Estate Planning
Education
Bowling Green State University,Ohio Northern University
State Licensing
Michigan, Ohio

David James Coyle
1000 JACKSON ST
TOLEDO, OH
Specialties
Bankruptcy, Debt Collection, Commercial
Education
Ohio State University Moritz College of Law,Ball State University
State Licensing
Ohio

Brian Douglas Smith
(419) 885-2153
5800 Monroe Street, Bldg. C, Suite 202
Sylvania, OH
Specialties
Criminal Defense, Family, Wills, Real Estate, Debt Collection
Education
University of Toledo College of Law,Lourdes College
State Licensing
Ohio

H. Matthew Vititoe
(734) 624-2865
12 E. 4th St
Monroe, MI
Specialties
Criminal Defense, Arbitration, Divorce, Child Custody, Debt Collection
Education
Wayne State Law School,Eastern Michigan University
State Licensing
Michigan

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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