Collection Management Handbook: The Art of Getting Paid
Praise for Collection Management Handbook\ "I continue to marvel at how Collection Management Handbook: The Art of Getting Paid is still the single most valuable book in my library. Not only does this book answer every collections question possible, it is my constant source of inspiration. When I feel I need to be motivated, I only have to scan through this book. I highly recommend it, even to the most seasoned accounts receivables associates."\ Jackie Crews, MMNS A/R Manager Medical Manager...
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For most of today’s successful companies, the overriding corporate mission is to generate new customers and dazzle creditors with new technology. But maintaining a healthy bottom line isn’t the sole province of sales and marketing. The fact is, more than any other aspect of a business, the management of receivables–or getting existing customers to pay and avoiding bad debt write-offs–can mean the difference between profits and peril. You don’t have to be gifted to be a great credit collector. Experience isn’t necessarily the answer, either. All you need is a desire to learn from the best...and that’s the level of expertise this exhaustively researched volume puts right at your fingertips. The Collection Management Handbook: The Art of Getting Paid, Third Edition, by consummate bill collector and bestselling author A. Michael Coleman, puts you on the fast track to becoming a debt recovery dynamo. Drawing on actual cases from the collection industry’s top achievers, this expanded edition redefines collection methodology. Focusing on multiple avenues of strategic creditor recourse, it goes beyond yesterday’s dunning notices, showing you how to extract money from the most hard-to-reach nonpaying customers. The Third Edition features an indispensable set of new tools: easy-to-implement strategies on utilizing small-claims courts nationwide; expanded investigative resources; a look at recovery of money judgments; and much more. You’ll get up to speed on potent legal remedies, including how to initiate an impleader action, which trumps the "I can’t pay you because I haven’t been paid" excuse. There’s also an accounts receivable exam/solutions gauge, which arms you with the legal knowledge and strategic insight to go after the worst debtor offenders. In the credit-granting arena, the book offers plenty of simple creditor-shielding methods designed to prevent a bad debt, while emphasizing that the science of receivables management hinges on numerous persuasion skills, from negotiation to intimidation. The ultimate goal of any professional bill collector is simple: to turn credit sales into bank deposits. The trick is to multiply your debt recoveries when your livelihood depends on it. For that, you can depend on the Collection Management Handbook.
PrefaceAcknowledgmentsCh. 1A New Collection Science is Born1Ch. 2Oratory and Advanced Communication Skills27Ch. 3Selling Psychology Applied to Collections49Ch. 4Advanced Collection Techniques71Ch. 5Small-Balance Collection111Ch. 6Suing in Small Claims Court125Ch. 7Making Your Debtors an Offer They Can't Refuse141Ch. 8Skip Tracing and Asset Searches155Ch. 9Legal Recovery201Ch. 10Enforcement of Money Judgments and Investigatory Skills229Ch. 11Case Studies241Ch. 12Conclusion255AppAccounts Receivable Proficiency Exam261Index277
