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Offering your clients credit gives your business the edge it requires
to stay competitive and secure long-term business relationships. To retain
this edge one must also accept the reality that some of your collection
accounts will require outside help. Below we have listed some of the Warning
Signs of a potential loss.
When to take notice: Changes in pay history - Personnel
changes – Avoiding your calls – Partial payments without authorization – Requesting
new payment terms – Using your sales representative as a go between – Last minute
disputes – Requesting additional credit lines – Change of address
When to place an
account with Tierra Portfolio Services: Admits to cash flow problems – Refers you to
an attorney – Ignores collection calls and letters – Breaks partial payment terms
offered – NSF checks not made up – Phone answers as new business or is disconnected
– Merchandise returned without authorization
When it may be too late: Bankruptcy
notice – Formation of a creditors committee – Eviction – Out of statute of
limitations – Chapter 7 filing notice received for the business and your personal guarantor
Look at the statistics below: For every month that goes by, your money
decreases in value. The longer you wait, the more you pay the customer
(debtor) back. Keep in mind they still have the product or utilized your
service. Depending on your mark up, what month do you start losing money?
Repossession on the rise. Where do you stand? Click here. You specialize in your particular field and Tierra specializes in recovering
your money. Let Tierra design a comprehensive program for you and your
organization and lets make the hard work you do start paying off.
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