COLLECTING PAST DUE ACCOUNTS: - The Threat of Bad Credit
By Jim Finucan


Businesses, which are members of credit bureaus, report their
delinquent debts to those bureaus. Such delinquencies stay on the
debtors credit report for seven years. That can be a financial
prison sentence. You can use this fact as a powerful tool in your
collection attempts. If the debtor is a young man who seems to have
a lax or indifferent attitude, ask him if he expects to apply for an
auto loan in the future. Hiss response will dictate the direction
you take the conversation.

"Are you concerned about your credit being affected by this bill?"

"No."

"Mr. Jones, would you agree with me that a person's credit says a
lot about who they are?"

"Not really."

"Well, that might be easy to say now but I can't count the number of
times I've had this same conversation with someone, only to have
them call me up months later complaining that it's my fault they
can't get the home or car loan because this bill is affecting their
credit rating. You're an unemployed student now, but when you're
ready to apply for a job, they could run a credit check on you and
then ask you why you don't pay your bills."

Now, while your words are having an effect, dun for the balance in
full. If things go quiet say something like:

"Paying this $918 could be the best money you ever spent, as an
investment in your own future."

This credit dun doesn't always work. Some people just don't care.
If it isn't working take another track. Try and find something else
that will hook the debtor into paying the bill. You must move and
move decisively to find the debtor's weak spot and then use that
opening to achieve your goal.

(End)
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Jim Finucan knows all about the dances, dodges and delays debtors
will try to pull. Let Jim show you how to double or even triple the
money you collect from your accounts receivable. Check out his
unique collections manual "Past Due." For more information visit:
http://www.tiare.com/pastdue.htm