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4 Things Debt Collectors Know That You Don’t

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4 Things Debt Collectors Know That You Don’t

By Dean Kaplan, CEO and President, The Kaplan Group

Cash flow is more important than ever. In the middle of a pandemic, very few businesses can afford to have clients owe them money. This means many businesses that used to be more laid back about collecting from late-paying clients are getting serious. As a commercial debt collector, there are things I know about the debt collection process that may surprise you.

1.Nice gets results.

There’s a stereotype of debt collectors as angry and threatening. But most successful debt collectors know that to be effective, you have to listen to people and form a relationship. Your approach to collecting from a client is highly dependent on the reason they haven’t paid. Without listening, you don’t know if a debt isn’t paid because the client is temporarily in trouble, about to go out of business, just disorganized or has a dispute. The more you can get people to talk, the more information they’ll reveal. It’s possible that the debtor will become upset or embarrassed during the conversation. But, the collector must stay calm and reasonable.

2. Debt collection starts before you sign the contract.

Having a solid credit application and laying out terms on all your contracts can make a huge difference in your debt collection. Your credit application should include complete contact information and layout any payment terms, including interest and late fees. Interest and late fees often provide good negotiation points for collection agents. I have frequently offered to waive late fees in exchange for prompt and complete payment.


Make sure that the terms on your contracts and invoices match the terms on your credit application. A reputable collection agent will want to see complete documentation of the agreement and debt. Although I try to avoid going to court, I will not accept a case if I don’t think it can be proved in court.

3. You should avoid going to court, and threatening to do so.

Speaking of court, although many people pay on debt because they’re afraid of legal action, you want to try to avoid it whenever possible. The contingency rate (the amount you pay the collector) is higher if you have to sue and the process is prolonged. This is especially true now when courts are backed up due to the pandemic. A default judgment might get issued within six months, but trial dates are now being set 18 or more months from the filing date. By that time, the customer could be out of business. Once you win a judgment in court, the money still has to be collected, which can take years in some situations. You should never threaten to take a client to court. Once you issue that threat, you have to follow through. If you threaten to sue and then hire a collection agency instead, you’ve made their job harder. Likewise, you should not threaten people via social media. Doing so can backfire and expose you to legal action.

4. Prompt debt collection can save business relationships (and time and money).

When a client owes you money, your first step should be to cease doing work or selling products to them. Unfortunately, this means your client will need to find another vendor. If you spend months or years trying to collect from them, that just gives them more time to build a relationship with another vendor. By sending the invoice to a collection agent promptly, you shorten the amount of time before you can begin working with the client again. Hiring a collection agency on a contingency basis can also save you time and money. Your staff can be focused on their regular tasks and reputable agencies have tactics for increasing pressure to get money flowing faster.

As this new year begins, you’ll want to make sure that all of your accounts are in order. Thinking about debt collection both now and in the future can keep your cash flow steady.

The Kaplan Group, a commercial collection agency specializing in large claims and international transactions. He has 35 years of manufacturing, international business leadership and customer service experience. Today, he provides business planning, training and consultation to a variety of global companies.

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Finding The Perfect hair salon north lakes For Your Baby Shower Look

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Finding The Perfect hair salon north lakes For Your Baby Shower Look

Baby showers are joyous occasions that mark the impending arrival of a new family member, and you want to look and feel your best at this joyous celebration. Finding an experienced hair salon north lakes like BeckyB can make all the difference when selecting your look; choosing one can transform how confidently you appear for this important event. In this blog we’ll help guide you through finding a top North Lakes stylist for your baby shower celebrations.

Search For Referrals

Begin your search by gathering personal referrals of North Lakes hairdressers who have had positive experiences. Personal recommendations can be an invaluable way of quickly and reliably finding an experienced stylist.

Read Online Reviews

Reviews found online such as those provided on Google, Yelp and Facebook can provide valuable insight into local hairdressers. Pay particular attention to reviews that mention special occasion styling as these indicate their expertise in creating looks suitable for events like baby showers.

Explore Hair Salon Websites and Social Media

Explore the websites and social media profiles of North Lakes hair salons to gain an idea of their portfolios, services offered and atmosphere of each establishment. Keep an eye out for photos that fit with your vision for a baby shower theme.

Check Qualifications and Experience

It is crucial to select a professional hairstylist with experience styling for special events like baby showers. Look for stylists with appropriate certifications as well as portfolios displaying their work for clients attending such events.

Consultation and Compatibility 

Speak to potential hairdressers or salons about scheduling a consultation meeting to discuss ideas and preferences for your baby shower look. Observe whether the stylist listens attentively and offers helpful suggestions based on listening carefully to what your vision is and working together towards its achievement.

Scheduling and Availability

Make sure your chosen hairdresser or salon can accommodate the date and time of your baby shower by scheduling an appointment and making necessary arrangements.

Request a Trial Run

If you have an idea for an attractive hairstyle for the baby shower, consider scheduling a trial run beforehand to assess how it will look on you and make any necessary modifications prior to its application. This way you will know whether it suits you well enough before your event begins.

Cost and Budget

Discuss the costs associated with styling services to make sure they fit within your budget. Keep in mind that some salons offer packages including hairstyling, makeup application and other beauty treatments.

Product Knowledge and Hair Care

A skilled hairdresser should possess expert knowledge about maintaining your look with appropriate products to keep it in its prime. Speak to them about which ones they recommend using throughout your baby shower celebration to keep your look in great condition.

Ask for Referrals

When in doubt about choosing a stylist, asking the hairdresser for referrals of past clients who had similar services provided is an effective way of gathering valuable insight. Speaking with these previous customers can give invaluable information.

Trust Your Instincts

In general, when selecting a North Lakes hairdresser for your baby shower event, trust your instincts. Select someone whom you feel confident with as this will contribute to a positive experience with stunning results.

Conclusion

Your baby shower is a special milestone, and finding the ideal hairdresser in North Lakes will ensure you look and feel your best as you celebrate. By following these steps and conducting adequate research, you can select an experienced stylist who understands your vision to create stunning styles to compliment any look while increasing confidence. With their help on hand, your joyous celebration will radiate beauty and happiness all day long.

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