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Saturday, November 15, 2008
Ask Your Attorney About Collecting Your Bad Debts
Click on "Attorney"
to locate an attorney in your area. |  | Ask Your Attorney About Debt CollectionWhen it comes to collection
of bad accounts, he will undoubtedly tell you, “turn them over to a reputable collection agency.”
To expect your attorney to act as a collection agency is to burden him with unprofitable work. And the ramifications
of each bad debt require time, special skills, as well as on-going training.
Furthermore...A reputable commercial
collection agency will:
...Collect your bad accounts on a contingency basis-no collection, no fee!
...Will
specialize in commercial collection work and have a proven record with references.
...Will acquire knowledge of your
business, your clients, your terms, etc., for his own effectiveness.
...Will be licensed and bonded with trust account
disbursement monthly.
Benefits:
...Return capital to the business. (Note, if your
net profit is 6%, you must find in new business, more than 16 times the bad debt loss to replace it.)
...Reduce
or relieve salaried staff for other duties. (Outsourcing the collection function costs only upon results...and permits professional
collectors for better results.)
...One clear deductible cost (our contingent fee) instead of salaries and benefits
to house collection staff.
Hurry...
Time
always works to the advantage of the debtor.
Ask
Your Attorney About Debt CollectionWhen it comes to collection
of bad accounts, he will undoubtedly tell you, “turn them over to a reputable collection agency.”
To expect your attorney to act as a collection agency is to burden him with unprofitable work. And the ramifications
of each bad debt require time, special skills, as well as on-going training.
Furthermore...A reputable commercial
collection agency will:
...Collect your bad accounts on a contingency basis-no collection, no fee!
...Will
specialize in commercial collection work and have a proven record with references.
...Will acquire knowledge of your
business, your clients, your terms, etc., for his own effectiveness.
...Will be licensed and bonded with trust account
disbursement monthly.
Benefits:
...Return capital to the business. (Note, if your
net profit is 6%, you must find in new business, more than 16 times the bad debt loss to replace it.)
...Reduce
or relieve salaried staff for other duties. (Outsourcing the collection function costs only upon results...and permits professional
collectors for better results.)
...One clear deductible cost (our contingent fee) instead of salaries and benefits
to house collection staff.
Hurry...
Time
always works to the advantage of the debtor. |
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Creditors: Obtain Information Before Transaction!
BCA Financial Services Collection Agency Clients:
Start off 2009 on the right foot: This past year at BCA Financial Services Collection Agency, we have seen literally hundreds of claims come in to our office with very little or no
“back-up” information.Remember the last time you obtained a loan at a bank? You sat there and filled out numerous
boxes of information so detailed that they can tell you the maiden name of your mother. When you extend credit at your business, it’s not unlike a
bank loan. While you may not need as much information as the above bank, you’ll need all the basics—plus:
TRADE STYLE for business credit transactions and PLACE OF EMPLOYMENT for consumer transactions.Protect your business – obtain information when giving credit.
11:31 pm est
Saturday, September 6, 2008
Collection Agency for Trade Publications
Trade Publication Collection AgencyTrade
Magazine collections are not unfamiliar to BCA Financial Services. They take legwork, diligence and “reach.” Often our clients are in one state, say New York, and their customers
(advertisers) are in another, sometimes very distant, state. A delinquent debtor in say, Utah will understand the
cumbersome nature trying to collect your money with so many miles between you.  In the worst-case scenario,
BCA Financial Services can sue in the debtor’s state, using a bonded attorney from one of the five attorney referral services to which we subscribe.
We say worst case because a debtor company may put up a challenge, however specious, and either delay the case or require
an appearance by our client. Hopefully the case will be successfully collected by our office eliminating the need
for this. Forwarding for suit has to be evaluated by our clients and BCA Financial on a case-by-case basis. The
amount, jurisdiction’s court costs and debtor’s viability will be a factor in our mutual decision. Visit
BCA's Web Site often for valuable collection information.
Tuesday, July 1, 2008
Bill The Right Person
Sending a bill to the wrong person can push payment off as much as 30 or 60 days as it gets
routed around a company. Talk directly with your client and ask who should receive your bill if the bill
is going to someone other than your day-to-day contact, call and introduce yourself before you put the bill in the mail.
If you’re sending a bill to your client’s bookkeeper or accounting department, copy your client as well
and follow with a phone call.
Sending a bill to the wrong person can push payment
off as much as 30 or 60 days as it gets routed around a company. Talk directly with your client and ask
who should receive your bill if the bill is going to someone other than your day-to-day contact, call and introduce yourself
before you put the bill in the mail. If you’re sending a bill to your client’s bookkeeper or
accounting department, copy your client as well and follow with a phone call.
Tuesday, May 27, 2008
Pennsylvania Community Associations Statute of Limitations
Pennsylvania Statute of Limitations - Assessed Fees of Planned Communities
A Statute of Limitations
is a rule mandated by the Commonwealth of Pennsylvania which defines limits to the amount of thime in which a suit can be
filed.
68 Pa C.S.A. ~5315(e) explains that the statute of limitations for actions with respect to assessed fees
collected by Planned Communities is limited to three years from the date the assessment becomes payable.
This rule
differs from some other types of contract actions to collect debts where the statute of limitations is four years
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2007.12.01 |
2007.11.01
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BCA Financial Services' Collection Agency BLOG archive.
Please note: This blog, while containing a good dose of collection agency information and the blowing of our
own horn, it is also for reviews, references, humor, historical information and occasionally an opinion. Although the last
one has not reared it's ugly head as yet-thank goodness. Have fun and
you may find something informative. By most recent date first, they are:
Tantamount to Getting Invoices Paid...
End of Summer 2007 - Collection Drought Over Soon. To Collect Money: Suit Should NOT Be Your First Choice Spring Credit Advisory - Memorial Day 2007 Evermore Gallery - Memorial Day Acquisitions What to Do if You Receive a Collection Notice Medical Collections - Keep up with the times. Newspaper Collections - Read all about it Presidents Day, February 19, 2007 Waste Disposal Collections JP's Steakhouse - American Fare with a Musical Flair Collection Agency Loses Money! Coming Soon, The Evermore Library Holiday Season 2006. Collection Agency Message Picture of the week from the Evermore Gallery Quiz of the Month Weekend Feature, The Evermore Gallery of American Art Community Association Collections - BCA's Focus on Experience - November 2006 Monty Rides Again Stock Transfer Collections - BCA's Focus on Experience - October 2006 For a Money Collection - To Sue or Not To Sue Ramapo College Softball Good Collection Question
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