Custom Search
EntrepreneurismBible.com home general business articles business marketing/promotion customer service, CRM branding joint venture financial management general and inspirational stress management health links inspirational articles Internet Business website design website promotion

Debt Collection Warrenton VA

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 Warrenton, VA that will answer all of your questions about Debt Collection.

Elizabeth Ann Mack Callaway
(540) 349-4100
15 Garrett Street
Warrenton, VA
Specialties
Debt Collection, Contracts, Divorce, Bankruptcy, Real Estate, Lawsuits & Disputes
Education
University of Alabama - Tuscaloosa (main campus)
State Licensing
Virginia

Rachel C. Carter
(540) 825-6000
122 West Cameron St., PO BOX 1147
Culpeper, VA
Specialties
Debt Collection, Litigation
Education
University of Richmond, The T. C. Williams School of Law,Mary Washington College
State Licensing
Virginia

Rachel C. Carter
(540) 825-6000
122 West Cameron St., PO BOX 1147
Culpeper, VA
Specialties
Debt Collection, Litigation
Education
University of Richmond, The T. C. Williams School of Law,Mary Washington College
State Licensing
Virginia

Robert C. T. Reed
(703) 684-2000
510 KING ST STE 301
ALEXANDRIA, VA
Specialties
Debt Collection, Landlord & Tenant, Litigation, Real Estate, Bankruptcy
Education
Washington and Lee University School of Law,Boston College
State Licensing
Virginia

Connell Andrew Loftus
(703) 362-5783
3800 Mode Street
Fairfax, VA
Specialties
Bankruptcy, Debt Collection, Fraud
Education
George Mason University School
State Licensing
Texas

Stephen Keith Lewellyn
(540) 825-6000
122 West Cameron St, PO BOX 1147
Culpepper, VA
Specialties
Personal Injury, Business, Litigation, Corporate, Medical Malpractice, Debt Collection
Education
University of Richmond, The T. C. Williams School of Law,Virginia Commonwealth University
State Licensing
Virginia

Matthew Richard Crowley
(540) 825-6000
122 West Cameron St, PO BOX 1147
Culpepper, VA
Specialties
Litigation, Business, Real Estate, Criminal Defense, Speeding Ticket, Debt Collection
Education
American University, Washington College of Law,University of Utah
State Licensing
Virginia

Kevin Christopher Cousins
(804) 745-2144
3520-A Courthouse Road
Richmond, VA
Specialties
Debt Collection, Litigation, Real Estate
Education
University of Richmond, The T. C. Williams School of Law
State Licensing
Virginia

Leslie Eugene Allen III
(434) 846-5288
1004 Court St, PO Box 1198
Lynchburg, VA
Specialties
Criminal Defense, Personal Injury, Trusts, Estate Planning, Debt Collection
Education
University of Virginia School of Law
State Licensing
Virginia

George H. Ragland Jr.
(703) 241-5573
6878 Fleetwood Road, Suite B
McLean, VA
Specialties
Litigation, Real Estate, Personal Injury, Debt Collection, Family, Estate Planning
Education
Wake Forest University School of Law,Wake Forest University
State Licensing
Virginia

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...

Click here to read the rest of this article from EntrepreneurismBible.com


Website Developed and Hosted By:
International Cyber Business Services, Inc.
Developers of holisticonline.com, 1stHolistic.com, GrandmasRemedies.com and SpecialGifts.com
Copyright © 1996-2008, ICBS, Inc. All Rights Reserved.