Effective Collections covers specific tactics that can be used to obtain payment on overdue invoices, no matter why the customer has been delaying payment. These tactics range from friendlier techniques designed to retain relations with customers to more aggressive ones that can be used when the relationship between the parties are harmed or terminated (e.g. the use of collection agencies, small claims court, and involuntary bankruptcy). In this course, author Steven Bragg provides the accountant a complete set of tools for how to collect these overdue invoices.
Upon successful completion of this course, participants will be able to:
- Recognize the different types of collection tactics.
- Note the situations in which A-B testing can be applied to collections.
- Describe how a postdated check should be handled.
- Cite the types of fee arrangements used with collection agencies.
- Note the alternative areas of expertise that some collection agencies have developed.
- Describe the criteria that can be used to select a collection agency.
- Cite the legal techniques that can be used to gain a more rapid resolution of a lawsuit.
- Note the circumstances under which litigation should or should not be pursued.
- Recognize the situations in which a litigation solution is indicated.
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