The following suggestions will maximize your time and money with regards to the collection of stalled assets. Legal action and Attornies will almost always waste too much of your time and money without producing results to justify it (especially for small to mid sized companies). 

Instead, simply do the following.

 1.) Have a well thought out "Terms of Service" contract, and make sure it's
signed, dated, and discussed.  This is key and will strengthen your position,
and amount you can recover, if the time should come where it's necessary.

2.) Follow up closely with invoices, and phone calls.  Document each one, and
keep an organized file showing you did your part.

3.) Once it goes cold, meaning there is no response or payment, send a
warning letter with a deadline. Inform them you will be turning the account over
for collections and will impose all applicable interest and fees per the "Terms
of Service".

4.) If there is no reply by the deadline, immediately turn the account over
to a trusted partner who is a professional in the Collection industry. Now you
can move on to finding and nurturing new business, while a professional takes
every necessary step to ensure that you will get as much as possible, as soon as

By following the above steps you will ensure that as few invoices as possible will ever need to go to collections. When and if they do, you will be prepared. This will result in the least possible stress, loss of time, and money on your part. Real, professional Collection services, like the ones we offer, will always be an asset, and never a liablility. There is no fee unless we collect, and what we bring to the table in getting these situations resolved easily pays for itself.

If you are afraid that turning past due accounts over to collections will cause you problems or generate complaints, don't be.  While that may be true with your run of the mill "no experience necessary" collection agencies, we are here to remove that stigma and allow you to recover what you are owed without tarnishing your reputation.  We do not employ anyone without ten plus years of TOP level experience.  It makes a huge difference! 

If you are just starting to have problems and need help establishing a strategy, a "Terms of Service" agreement that strengthens your position, and a timeline for action, you may contact us for our Consulting Services.

Good luck everyone. Please contact us if you have troublesome invoices you would like to discuss. 


Cambridge Receivable Solutions



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