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| Collection Assistant |
When to Place an Account for Collections
The treatment of a past due customer may vary depending on past history or relationships. There is no steadfast rule as to when to turn an account over for collections.
Clyde Collections, your UMC collection assistant says, if any variation of the following circumstances exists between you and your customer,
give 'em to Clyde!
- The account is 90 days or more past due.
- Your customer will not take or return your calls.
- The debtor company is unwilling to refer you to a decision maker.
- The decision maker is unwilling to make a commitment to pay.
- Your customer has broken two or more commitments to pay the past due balance.
- A payment plan is discussed but your customer refuses to sign a Promissory Note.
- The debtor company is in violation of its bank loan covenants.
- The bank has frozen your customer's accounts.
- Your customer's phone is disconnected.
- Your customer's mail has been returned with no forwarding address.
- Your customer has recently sold the business and no arrangements have been made with the new owner.
- The new owner refuses responsibility of the previous owner's debt.
- You find out your customer is being sued by other trade creditors.
- You find out your customer is being turned over for collections by other trade creditors.
- Other trade creditors are changing their terms to COD.
- Your customer bounces checks.
- Federal or state tax liens have been placed on your customer's business.
- Your customer mentions the possibility of filing bankruptcy.
- There is no longer any progress on a payment plan.
- There are missed payments on a payment plan.
- Your customer has not responded to your last demand letter.
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