In accounting-speak, a debt someone owes you for goods or services you provided to them is an account receivable. Accounts receivable are part of your assets. They represent the amount of money owed ... |
At this point in the process, you've set up your system for keeping track of your accounts and you know pretty much when you're going to begin making efforts to collect past due accounts. The next ... |
Lawyers and debt collectors usually get paid by taking a percentage of what they collect. The amount is usually 33 percent, although it can range from as low as 15 percent to as high as 50 percent. |
If you're going to spend any of your own time collecting past-due accounts, you should make the time count. As anyone who has ever collected debts will tell you, debt collecting can involve a ... |
Although there are general guidelines you can follow in collecting past-due accounts, you will need to modify those guidelines to fit your particular needs. Here's a look at the most important ... |
Here's a series of collection tips that may help you improve your technique: |
Here are a series of scenarios illustrating how a collection process might be organized. Your actual process should be modified to reflect the time you have available for collecting, your ... |
If you reach the point that you need to take some action on a past-due account, you can turn it over to an attorney, or you can turn it over to a collection agency. As a third alternative, you can ... |
If you're going to extend credit and to do some of your own debt collecting, you'll need to be aware of the basic guidelines for what you can and cannot do. Here's an overview of the legal rules ... |
A lot of small businesses decide not to turn over past-due accounts to a lawyer or a collection agency until they've exhausted all the means at their disposal to collect the accounts. But how do you ... |
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