For Credit & Collection Professionals On a daily basis it’s routine for each of us in this industry to go to our email inbox and find several new emails from people who claim they represent major companies abroad, asking us if we handle breach of contract or collection cases. Then they invite us to send […]
Why Must We Send A Witness?
Consider this scenario: You have already filed a lawsuit against a buyer or client to recover a debt. The lawsuit is contested – an answer by the buyer or client has been lodged with the Court. You believe your case is easily proven and yet… Your lawyer tells you he requires a witness to attend […]
Is Your Debt Collector A Professional?
What makes a professional debt collector? From the timeliness and accuracy of reporting to collection strategy, there are many elements that determine the professionalism and success of your debt collector. Do you know who is collecting your bills? Elements of a Professional Debt Collector Reporting – Over the decades, I’ve had some clients tell me […]
When Can a Contract Be Cancelled?
If you ask 10 Californian business people if they have the right to cancel a contract within 3 days of signing a contract with another businessman, I am willing to bet you 9 out of 10 will say “OF COURSE YOU CAN – DEFINITELY!” That is perhaps one of the most widely believed pieces of […]
What is a Foti Message Within FDCPA Compliance
The Fair Debt Collection Practices Act (“FDCPA”) is a federal law intended to protect consumers from unscrupulous or harassing debt collection practices. The FDCPA was enacted in 1978, before the Internet, or even cell phones. Therefore, especially with regards to technology, the FDCPA can be less than clear. This article will discuss the rather surprising […]
Should Salespeople be Involved in Collections?
This was posed to me as a topic recently and it raised my eyebrows after I had my initial knee-jerk reaction of wondering why anyone would want a non-professional involved in the collection process. However, deeper thought about it made me realize the sales force indeed has a role in ensuring delinquent accounts are paid […]
How to Choose a Debt Collection Law Firm
This is a very relevant question, which prompts a good bullet list of ideas and questions for you to use in the selection process of a debt collection law firm. Is Your Lawyer Qualified? Check your state’s Bar Association to ensure the lawyer is properly admitted to practice law in your state and to verify […]
The Best Debt Collectors Don’t Harass the Debtor
There I am at a party or in some other social setting and inevitably we get to the question, “Dave, what do you do for a living.” When I reveal I’ve spent a lifetime collecting debts – even on an international level, on come the snickers, raised eyebrows (like they just got confronted with the […]
Days Sales Outstanding
I recently mentioned the “DSO” statistic at a meeting of sales managers and was not surprised to see many blank faces staring at me in return – they had no clue what the statistic is or what impact it has on their business, even though most of them were also owners of their businesses. Most […]
A Solid Receivable Recovery Policy
by: David E. Greenberg So many times you’ve heard debt collectors and lawyers express dismay over why creditors hold onto delinquent debt without taking any action to bring in those missing dollars. That dismay comes from knowing a variety of factors. Failure to take action on a delinquent debt can cause the receivable to become […]