Collect Overdue Accounts Receivables
And maximize returns by placing your accounts early:
Benjamin Franklin once said, “Remember that credit is money.” It is a simple but often forgotten fact that the repayment of credit is a fundamental lifeline for the hundreds of thousands of U.S. businesses that rely on consumers to pay their debts.
Statistically the most important action that you can take for your past due receivables is to place them early!!!!
Account receivables are not generally considered as a “depreciating” company asset! Their impact on net profit however, is directly related to the margin of expense required to replace and collect them!
EARLY PLACEMENT = HIGHER DOLLAR VALUE
FACT: The age of your accounts determine their value. The chart below shows the United States Government Statistics set forth by the Department Of Commerce.
When an account is legitimately past due, hesitation can be deadly. Unlike a fine wine, problem accounts do not get better with age. Therefore, even if the debtor is a longstanding client with whom you have a close personal relationship, it is imperative that you take appropriate action to protect your company’s interest.
“Our goal is your goal.”
Voss & Klein is a highly structured team of professionals who want to share with you our vision of excellence in service, strength and innovations to increase your cash flow and eliminate your bad debt write-off. “It’s not how much you have in receivables, it’s how much you have in the bank!”
DEBT BUYER SUES CITI FOR ‘BAIT AND SWITCH’ WHEN SELLING PORTFOLIOS A debt buyer has filed suit against Citigroup, accusing the mega-bank of a “classic ‘bait and switch’ ” by promising to sell delinquent credit card portfolios containing accounts with certain characteristics, but instead putting accounts into the portfolios that had a much lower chance