FG Philosophy & News, Money

The Follow-Up: How to Make Every Collection Call You Make More Effective

One simple rule will make your collection calls infinitely more effectual: follow up every single time. The great thing about phone calls is the immediacy of the conversation. You can come to an agreement much faster with a back-and-forth that…

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FG Philosophy & News, Money

The 2nd Attempt: What to Do When Your First Collection Call Fails

Despite your best efforts, your first collection call did not result in a successful payment. Perhaps you weren’t specific enough with the deadline or didn’t achieve all of your conversation goals before you hung up. Maybe you did everything right,…

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FG Philosophy & News, Money

Sending a Severe Letter to an Unresponsive Customer

When you have attempted to contact a delinquent customer for a while and gotten poor excuses – or no response at all – it’s time to turn to a severe letter demanding that your client take action. The best way…

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FG Philosophy & News, Money

How to Craft the Perfect Initial Past Due Reminder Letter

Sometimes important obligations slip through the cracks. It happens to all of us: a forgotten phone call we promised to return, a utility bill payment that gets sent a few days late, an overlooked anniversary. Similar mistakes are bound to…

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FG Philosophy & News, Money

4 Steps to Create a “Firm” Letter for Your Late-Paying Customers

As a business owner, there will come a time when you need to be harsh with a client about a late payment. The best plan of action is to have a template all ready for yourself that you can use…

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FG Philosophy & News, Money

How to Use Sterner Language in Your Collection Letters

Asking for money can be uncomfortable, so having a plan for how you communicate at each stage of the collections process can alleviate stress. You should have a dunning letter template on-hand that you use when a client still hasn’t…

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