Improve Your Realization Rates by Stacking the Deck in Your Favor

39d9e8bRealization rate measures time billed with the percentage of fees collected. The higher the percentage of billings collected, the higher the realization rate.

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Do I take the customer’s call after referring the claim to a debt collection attorney?

IMG_00001353Your collection manager gave it their best shot — calls, letters, emails, faxes, an offer to go to debtor’s premises to pick up a check — before referring your non-paying customer out for collection. If the debtor doesn’t respond, or the responsive is not productive, your best option is to send the claim to a collection attorney.

A collection attorney’s job is to make that phone ring and bring the debtor to the table. There’s a good chance, after receiving calls and letters from an attorney, your once silent customer will reach out to you.

Then what? Do you call the customer back? Continue reading “Do I take the customer’s call after referring the claim to a debt collection attorney?”

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Commercial Debt Collection: How Do You Know If You Are Getting the Best Rate of Recovery on Your Claims?

Commercial Debt CollectionHow do you know if you are recovering all that you can on your commercial debt collection claims? The answer is unless you are collecting 100 cents on every dollar placed plus interest and return of advanced costs you probably do not know.

One way to find out if you are getting the highest rate of recovery is to ask friendly competitors in your industry about their experience. Continue reading “Commercial Debt Collection: How Do You Know If You Are Getting the Best Rate of Recovery on Your Claims?”

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Commercial Debt Collection: Top 10 Reasons It Takes So Long To Get Paid

Commercial Debt Collection

Top 10 reasons why it takes so long to get paid on commercial debt collection:

1. The debtor led you to believe you were going to get paid so you held on to the claim,

2. The claim appeared collectable, but you decided not to pursue suit, Continue reading “Commercial Debt Collection: Top 10 Reasons It Takes So Long To Get Paid”

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