Are you losing money because of the following debt collection problems and concerns?

• Lack of office procedures for handling credit and collections.
• Lack of information about the debtor to help you collect a debt.
• The inability to recover expensive attorney's fees, late charges and interest.
• Your business is hit with too many bad checks.
• You are unable to locate the debtor.
• The fear of being sued for harassing the debtor.
• You have waited too long to sue.
• Your debtors turn out to be judgment-proof.

Many businesses are losing thousands of dollars by not taking some very simple precautions. Collecting debts may be almost impossible if you do not take these steps:

• Step #1 - Prepare a policy and procedure manual.
• Step #2 - Use a credit application form.
• Step #3 - Use a credit agreement.
• Step #4 - Prevent bad checks.
• Step #5 - Learn how to skip trace.
• Step #6 - Know what collection practices are prohibited.
• Step #7 - Don't procrastinate.
• Step #8 - Pursue all responsible parties.