Your small business accounts receivable and debt collection solutions...

Small business often faces big problems when it comes to accounts receivable and debt collections issues. Most of my articles are directed toward educating you on how to do things yourselves, and a little bit about how we can help you beyond that. 


Excuse me if this article is a bit self promoting, but what we offer to small businesses, professional service firms and freelancers is so unique and hard to find that if I don't toot our horn once in a while too many hard working businesses will lose money to difficult clients.



Here are some of the common problems you're facing, followed by the solutions (that's where we come in).  


If you're having one of these problems, match it up to its solution in the list below:


1.)  Accounting functions aren't your specialty.  Especially when it comes to asking for money.



2.)  You cannot afford experienced staff to do the tasks.  You don't have the square footage, payroll space, and don't want the cost and risk involved with bad hires.



3.)  Debt Collection agencies won't help you because you don't have hundreds of accounts to place, or your balances aren't sufficient.



4.)  You don't want to deal with the extra time and hassle of dealing with a debt collector company where you have to talk to a salesperson and don't know who is actually collecting your accounts and dealing with your customers.



5.)  You think that having a "collection agency" call your customers will hurt your relationships or reputation.



6.)  You're writing off costly losses at the end of each year and losing hard earned profit that you could be using to grow or simply sustain your business.



7.)   Your dealing with anger and stress over large balances that a client or clients owe you but you just don't know where to turn.



8.)  You think that getting a lawyer to litigate, or going to small claims court, will help your chances of recovery.






The solutions and how we can help you in an easy and cost effective way;



1.)  We know the best practices for accounting and back office procedures.  Having been in between hundreds of companies in dozens of industries, we've seen it all and know what works best for your specific type and size of business.   We are also well versed in accounts receivable and collections.  


We know how to speed up receivables and get you a cash infusion from your more delinquent and difficult customers.  We'll maximize every available dollar that's humanly possible to get into your bank account as soon as possible!



2.)  When Cambridge Receivable Solutions is your trusted accounts receivable and collection department, we represent you with expert level experience.  The person representing your business is professional, intelligent, and works with only your overall best interests in mind.  Our debt collection services are No Recovery = No Fee.  That means FREE if you don't get paid.  No more money out of your pocket.  


We'll get ourselves paid out of the recoveries at a rate that makes sense to your bottom line.  Our other services such as collection letter services and consulting offer easy to notice return on investment.  Either way the knowledge we pass along while working your accounts will pay dividends for as long as you do business.  



3.)  We accept single placement accounts because we care about small business. While we specialize in large balance claims we do accepts some minimum balances of $800.00 and there are some cases we won't accept, but we'll do everything possible to make sure you get the best information and solutions.  We want to help as many good businesses as possible get paid!  We take that seriously.



4.)  When you deal with us you are dealing with a small professional service provider. That's right we are a small business too.  We aren't a giant call center.  We are customized to help your business.  You'll deal directly with your personal cash flow consultant who will advise you on all aspects of your business AND be the one who deals with your customers!  This is the only way for small and professional businesses to go when it comes to debt collections.



5.)  The term debt collector or collection agencies comes with negative connotations thanks to the scores of low experience collection personnel employed by large corporations and predatory lenders.  Don't let that cost you money. I have created a professional option for small businesses to maximize their profits, keep their reputations and relationships in tact; all while making sure you're not going to go out of business due to losing hard earned money that you should have already.  


You can trust us to represent you strictly professionally and within the law.  We don't add to your headaches, we remove them!



6.)  The money that you "don't have time to deal with" or write off every year because you "don't think they'll ever pay" is the same type of truckloads of cash that we recover for your competitors.  This is such a misunderstood area of business.  It's no wonder that it puts so many new or small businesses OUT of business.  Let us put the money you deserve right where it should be, in your account.  All while you continue doing what YOU specialize in and getting more paying customers.



7.)  Too many small businesses have accounts receivable and debt collection issue skeletons in their closet.  Many times the business owner feels they did something wrong.  The past due client has a way of manipulating and stalling businesses into just never following up.  We know the way they operate.  We know how to get you what you rightfully earned, and show you how to strengthen your processes so you minimize coming across these difficult types as much as possible.  


The stress, anger and confusion can be bad for your health and your business. Offload this small percentage to us.  Dealing with them is our specialty.  That's how we add real value to your business.  It's not glamorous but someone has to do it.  We take pride in getting the good guys paid, the right way!



8.)  We are successful in recovering past due debts more often than winning a judgment in court is.  Not to mention it's costly, time consuming, very risky, and also is not even a viable option 98% of the time.  Let us orchestrate a pre-legal attempt.  If that doesn't work, and we think there is money to be had.  We'll let you know your next best option.  That shows good faith on your part!



So long story short, get to know our services.  No one has ever had less for having us as their secret cash flow weapon.


I'd love to have a no pressure, casual conversation about recovering your past due balances, strengthening your contracts, and making sure you have the fastest possible access to your earned income in the future.  




Author's contact information:

Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
Direct: 636-238-3843
or 
Toll Free: 1-888-908-3905  x 101
jlindsey@c-rsolutions.com
info@c-rsolutions.com

www.c-rsolutions.com 















 
 

A perfect collection agency for small business? Yes please!

When it comes to accounts receivable problems and collection issues no one feels the pain like small businesses do.  While SBA.gov defines small businesses as those having less than $21.5 million dollars in annual receipts many of the small businesses that contact us for collection services are single person businesses that are simply striving to provide a single family's income. In fact approximately 70% of small businesses are owned and operated by a single person.  

These operations count on positive cash flow simply to survive.  They aren't backed by millions of dollars.  Only a third of them even use (or have access to) business credit.  Every dollar counts and you don't have the time, expertise, or resources to handle time consuming collections yourself. Don't get mad, frustrated, or let your business fall apart while you chase after non-payers.  You can win at this game.


"Only 50% of businesses survive the first 5 years and in 2009 a small business went bankrupt every 8 minutes."  
-Business insider



If your a small business and you want to stay in business or you are a freelancer and you don't want to prep your resume and return to a 9-5 you had better pay close attention to protecting yourself from losses.


Too often small businesses...

1.) don't do enough before the sale/engagement to qualify customers.


2.) don't have a contract stating the terms, or use a poorly worded agreement that lacks crucial clauses to protect themselves effectively.

3.) don't invoice properly and don't follow up quickly or often enough when invoices go cold.

4.) lack quality contact information and are unable to locate the debtor.

5.) write off losses simply because someone doesn't pay as they are supposed to.


6.)  waste time or company resources by chasing payments ineffectively.


7.)  feel as though somehow they themselves have done something wrong.


8.)  accept excuse after excuse until the owing party finally ceases communication.


9.)  waste time and money in small claims court only to realize they still won't get paid.


10.)  fail to get help from a professional early on in order to maximize debt recovery and focus their time on new/paying customers!



When your small business lacks the time and expertise to stay on top of your account receivable management and collections you need help.  Cambridge Receivable Solutions specializes in helping businesses like yours be able to minimize your losses in a cost effective way.  We share our extensive experience, tools, professionalism, and persistence with your business so you can maximize your profit risk free.


Here is a DETAILED MENU of the services we provide for all small business, professional services, and creative freelancer clients.  

Don't hesitate to e-mail or give me a good old fashioned phone call to discuss your past due invoices.  I have an open door policy and love talking to people about my area of expertise which is getting the good guys paid!!  I'll do what I can for you regardless of it you need us this time or not.

Have a look at our services page for more info.



Contact the Author:

Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
New Clients: 636-487-0986
or 
Toll Free: 1-888-908-3905 
jlindsey@c-rsolutions.com
info@c-rsolutions.com

www.c-rsolutions.com 


If you liked this article, help me share it with others who could benefit from it.  Share it on Twitter, click the like on facebook icon below, or....
 
Join my personal network by connecting with me on Linkedin

Follow CRS on twitter:  https://twitter.com/getpaidfaster

Follow CRS on Linkedin:   http://www.linkedin.com/company/cambridge-receivable-solutions-llc












 
 

             This article relates to freelancers, small to medium size businesses, and professional service firms. 

Today I want to talk about the main myth with regards to debt collection agency contingency (no fee if no recovery) rates, along with what we are doing to ensure value to our clients.
 

    The myth:  "Collection agencies typically charge 30-50% fee on recoveries"
        

                                                 Who perpetuates this myth, and why?

-Collection Attorneys.  Collection attorneys help in spreading this myth in order to warm you up for their costly fee structure.  Legal action will take up more of your time and resources than the more logical third party collection intervention.  A solid pre-legal, collection attempt will, more often than not, increase your return.  If the effort is unsuccessful, you pay nothing, and legal action is always available as a last ditch effort.  In fact, having attempted an amicable pre-legal solution will strengthen your case if it must go there.  Tapping into decades of experience, we'll be the first to point you in that direction if that's what it will take. 

-The uninformed.  This is to include authors and bloggers who are simply regurgitating dated untruths they got from other unreliable sources, in the name of content, which has watered down the little known reality of debt collections.  The spreading of this misinformation is hurting your bottom line.  The crucial and necessary profit maximization, through specialized A/R management and collections, is a highly misunderstood and underutilized business function for businesses of all sizes and industries.

                                                        The Truth

To say this myth is an incorrect, dated, and an overly broad assumption, would be an understatement.  The fact is your cost will largely be a direct reflection of how you have handled the invoices to date.  If your waiting until your invoices are over a year old, then you may be in the neighborhood of 30%, for good reason.  Already have judgements? Then they will be in the 40% range.  Again, for good reason.  80% of judgements go unpaid and can require extensive expenses to attempt to recover.  The majority of placements that need a collection intervention won't fall in those high fee categories.  A proper collection strategy through a firm like ours will never leave you with less than you would have without us. 

The main factors at play with our rates are in your hands.  Most   agencies base their rates on the amount of time and resources they will   require to be cost effective for BOTH parties, obviously.  The amount  of  time it will take us to turn your coal into diamonds is what decides   your rates. Average age, average  balance, and volume of accounts are  the key factors that will decide  your fee structure.  Help us help you by getting us involved early and  often.

                                                                              Facts
-Having a specialist involved to ensure your cash flow management is structured appropriately throughout the entire cycle is a crucial first step. 

-Knowing when, and why, to allow professional help to proactively address problem invoices as they pop up, will always ensure you have more than you would without their assistance.


-DRUM ROLL~~~~~ Rates for top notch collection assistance are primarily BELOW 30%, in many cases as low as 10%.  If your agency can't show you why their rates make sense to your bottom line, call us, we can!  If we can't, then we'll make some suggestions and point you in the right direction.  If our relationship won't MAKE you money, we don't want to waste either of our time.  Taking on clients for whom we won't be an asset would be completely counter productive for us.


                       How do we specifically ensure value for our clients? 

-We are a highly experienced and specialized partner for the industries we serve.

-Our unique set up was built and customized to ensure you more time and money to invest in the business you're in. 

-A full service, consultative approach, ensures that you capitalize on our knowledge and experience at every stage of the process.

-Our more cost effective rate structure, and low overhead, ensures our clients top quality service and results. 

-While there are some bad collection agencies out there,  Cambridge Receivable Solutions is the answer to changing economic times.  We are providing innovation to the typical archaic recovery model.

   
                                                       Click   >HERE<   for more information
             
Get to know us better by having a quick look at our home, about, and services pages.  Please contact us with questions or for a free, confidential consultation on how we can help you.....at rates that you can be excited about.


Contact the Author:

Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
Direct: 636-238-3843
Toll Free: 1-888-908-3905 Ext.101
jlindsey@c-rsolutions.com

www.c-rsolutions.com 




If you liked this article, help me share it with others who could benefit from it.  Share it on Twitter, click the like on facebook icon below, or....

 
Join my personal network by connecting with me on Linkedin;
http://www.linkedin.com/pub/jason-lindsey/44/567/165/

Follow CRS on twitter:  https://twitter.com/getpaidfaster

Follow CRS on Linkedin:   http://www.linkedin.com/company/cambridge-receivable-solutions-llc




 
 
Collections
Time is money...why wait?
Maximizing your profits, and access to earned income, should be a top priority all year. Don't forget the obvious; getting paid is how you stay in business. Time is money, and we are here to get you more of both. 

Top reasons to address your past due accounts now, as opposed to year end:
(In no particular order)

1.) Waiting until the fourth quarter, or (cringe) December, sends a message that you don't expect timely payment. 

2.)  Your clients financial standing may deteriorate over time. 

3.)  You have less leverage over the clients the longer you wait, especially if services are completed.

4.)  Clients will forget how well you worked for them, or how important the product or service you provided was. 

5.)  You don't want to have to "make deals" to get the money in before year end.  By doing so they may expect lower rates next time.

6.)  Other creditors likely started earlier and are already in line for payment, get the jump on all available funds as soon as possible.  Don't get moved to the back of the line!

7.)  Statistics show that troublesome invoices become less collectable with every passing month.  See the Collectibility chart below, keep in mind it will vary by industry, economic conditions, etc. but it gives you an idea (visually) how time IS money.

8.)  You should be thanking your clients at year end, not pushing for payment and making compromises.

I could go on for days, but you get the point. Contact us today to capitolize on top-tier assistance and experience, at below average rates.  Our small firm, consultative approach, affords you terrific client service and results.  Let us know if you have any questions in regards to your active receivables, or more severely past due collection accounts.  We look forward to speaking to you about your needs, call anytime or use our quick consultation form for your convenience. 

Thanks for your time!

Contact the Author:

Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
Direct: 636-238-3843
Toll Free: 1-888-908-3905 Ext.101
jlindsey@c-rsolutions.com

www.c-rsolutions.com 



If you liked this article, help me share it with others who could benefit from it.  Share it on Twitter, click the like on facebook icon below, or....
 
Join my personal network by connecting with me on Linkedin;
http://www.linkedin.com/pub/jason-lindsey/44/567/165/

Follow CRS on twitter:  https://twitter.com/getpaidfaster

Follow CRS on Linkedin: http://www.linkedin.com/company/cambridge-receivable-solutions-llc

 
 
Cambridge Receivable Solutions Pre-Collect Letter Service

Cambridge Receivable Solutions knows how to help organizations increase cash flow by leaps and bounds in a wide variety of industries.  Today I want to talk about our Pre-Collection letter service which is available for purchase HERE.

I designed the pre-collect letter based on seeing the need for such a function within our diverse client base.   Rather than stick to a particular menu of services, we are always looking to identify common business cash flow problems and create cost effective solutions to fix them. 

Our pre-collect letter is just another tool in a wide array of cash flow maximization solutions that we offer.  On accounts that have become past due approaching 90 days, you obviously begin to wonder if you will ever get paid.  This is a point where you may have heard every possible excuse for non payment, and had several broken promises to pay.  Even if you have had no contact since invoicing, this is when you should take some proactive steps.  Be honest with yourself, did you want to wait 90+ days to get paid?  Do you want non payment to your business to be someone elses cash advance?

What you need to know is IF this account needs to go to collections.  Normally you can't do that without actually "placing it for collections" and paying a percentage of the recovery to an agency. This means you don't get the third party involvement effect without paying contingency on all collections.  While that's a no-brainer for "most accounts" over 90-120 days there are some exceptions; such as smaller balances, single accounts, or if it's a rare occasion that you get a past due invoice at all.

Here is how our pre-collect letter works. It's fast, it's simple, and it's cost effective.


1.) You have an account (or accounts) that are approximately 60-90 + days past due. You aren't sure that you want to place it in collections, but you also don't want to wait too long.  Your in house efforts are not getting results.

                         ***This is when you need a CRS pre-collect letter***

2.)  We have a quick conversation with you to gather the necessary information about the past due invoice/s in question. 

3.)  We mail them a letter on our letterhead explaining that the account has reached X days past due.  As a courtesy we are giving them X (you decide)  days to pay the balance, OR we (CRS) will be activating it for collections.   We instruct them to pay by your desired method, or payment address. 



The one time cost of this letter is $50.00    Purchase and submit HERE
 

If the "third party involvement effect" works you will receive your money by the deadline. This will surely get the attention of anyone with the means and intentions of paying you for your goods and services. Our letters cost 65% or more less than an attorney would charge to write a letter, we take less of your time, it's far less intrusive, and it's more effective because we specialize in getting these accounts paid. We can also be there to further assist you if it doesn't pay since you won't be going to court on these size invoices.

If the payment does not come in in time, you choose what to do with it from there. Smart money would tell you that they ignored you, they ignored the courtesy of a pre-collect notice, and you are now on "their time". At this time we would recommend that you activate the account for our collection service. This is done on a no fee if no recovery basis. We then attempt to expedite your getting paid. Once we have earned $100 or more in fee, we will credit you back the cost of the pre-collect letter.

If you have listened carefully to our previous blogs, you will also have a signed "Terms of Service" allowing the addition of interest, collection costs and legal fees which we will calculate and pursue.

This letter is offered on balances of $3,000.00 and under.  If your balance is higher please contact us immediately to discuss the proper steps to recover larger amounts.  Now dust off those old invoices and let's turn them back into cash!!! 

Purchase and submit your letter/s HERE today. 


Call our Client Services Department:  636-487-0986


-OR-

Toll Free 1-888-908-3905          Ext. 102



Thanks for your time!





Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
Direct: 636-238-3843
Toll Free: 1-888-908-3905 Ext.101
jlindsey@c-rsolutions.com

www.c-rsolutions.com

 
 
A Commercial Debt Collection Agency is a company that performs collection functions from business to business.  Regardless of how tight your in house procedures are, you will have troublesome invoices at some point.  When they reach a certain point, it's not cost effective for you to spend any more time on them.  This is when you need a professional, experienced partner, to ensure the highest possible rate of recovery.  Not only do we provide that, but also allow you to enjoy a little headache relief while freeing up valuable time for you to get back to what you do best.

For example, a client comes to us after an invoice has been past due for  X days and all of their efforts to get paid have gone unanswered, or without results.  We then represent them by gathering all the documentation, correspondence, and facts of the situation, then contacting that Company to  get the matter rectified.  Many times a third party intervention is all it takes to get a troublesome invoice turned back into cash.  We are professionals with all the tools, experience, and knowledge it takes to resolve these sensitive situations.

Cambridge Receivable Solutions, LLC was created with all the best of the debt collection industry in mind.  We left out, or improved upon all the rest.  We don't imitate, we innovate.  If you're tired of watching your receivables and losses grow, give us a call.   We specialize in large balance, complicated matters for a variety of industries.  We won't take you on as one of our select clients, unless we are confident we can help. 

Best of all there is NO COST for you, UNLESS there is a recovery! 
Don't wait until year end to address mounting losses.  Be the hero for your companies bottom line, and parter with us today!

Thank you!

J.Lindsey
President
Cambridge Receivable Solutions, LLC
info@c-rsolutions.com
Questions? Call 636-487-0986

 
 
 
 
Any business or Professional Service Firm that is owed money stands to gain by trusting CRS with their accounts.  You have extended products or services, and in many cases built a relationship in the process. Now that the money isn't coming in you aren't sure what your options are or what you should do.  Let our professionalism and experience go to work for you. 

Accounts placed with us are only worked by a veteran in the field of credit and collections with top level negotiation skills in the industries in which we specialize.   Our business is built on results for our select client base, we give your organization a more professional and thorough option than traditional collection agencies. Our process, resources, and approach (before, during, and after) are what sets us apart. 

You can trust your personal CRS consultant to guide you through your best options and put numbers back on the books where they belong.  It's no secret that, in this economy, this is a service businesses are in dire need of.  On cases like these we earn no fee unless there is payment. You have nothing to lose, and good funds to gain! 

Reach our Client Services Department at 636-487-0986 for a confidential consultation, or e-mail us through the
CONTACT page for more information and to request a rate sheet. 

**We also offer a Pre-Collect Letter Service for a small one time fee.