Spring Broke?  Yep.  Here we go … college students everywhere are gearing up to hit the beach and for plenty of small businesses, that means one thing – slow payments.  Let’s face it, most people live paycheck to paycheck.  

That’s not a condemnation of people, that is simply the truth.  Think about it like this:  every person has a budget.

 They will make “X” number of dollars this week, thus they can spend “Y” on bills and miscellaneous.  Vacations and holidays introduce a variable into that equation and most people simply don’t plan for the expense – especially college kids that are working part time in low-paying jobs (and they won’t make any money the week they are at the beach!)

So what do you do?  Well, for the last couple of months, we’ve been talking about making sure that your credit policies are not only in place but also up-to-date.  

Have you done that?  Sure, we love it when you call us, but the best way to get collections is to avoid collections.  To do that, you should clearly set expectations with the customer and make it easy for them to pay you.   Put yourself in their shoes – if I asked you to drive all over town to give me money, would that work out for you?  

Make it easy for them to pay.  Yes, we’ve mentioned it time and again, but it still holds true.  We are receiving positive comments on the ideas, so hopefully our message is clear.  It comes down to this – most customers want to pay.  How can you help them to pay?  We’ve discussed making it easy, but let’s also look at the premise that sometimes “stuff” just happens (Like, for example, Spring Break!)

How about the idea of flexibility in payment?  Many types of software available today have the ability to handle this and when you are able to offer this both as an incentive (“you’ve paid six months on time, take this month off”) or emergency benefit (“I understand that your septic system had to be fixed, take this month off”).  Beware, though, this is the realm of verbal conversations and notes on legal pads.  Unless you have clear documentation, such as in your A/R software, you will have a hard time proving or disproving the circumstances.

Another option that really speeds up payments comes by sending truly accurate invoices.  If these were sent via email, then pointing out how close the customer is to paying off the debt completely may actually cause the client to pay the total owed rather than simply a balance due.  Just remember, everyone doesn’t have email, or they prefer traditional billing methods, so it’s important to meet your clients needs, while at the same time implementing policies and practices that increase the likelihood of payment.

We are rapidly approaching the point in the spring where many of our customers will be having to pay taxes and that could lead to some shortcomings in your A/R department.  Again, simplifying your policies and making it easier for the customer to pay can make a lot of headaches go away – and take only a minor bit of work on the part of you and your company.  For the heavy lifting, of course, you need to get a pro like Credit Service Company – we’ll be happy to help

What our clients are saying:

Great Company and Great People

"Great company and great people!! Thank you for your efficiency and courtesy!" - James K."

Always Very Professional

"Have been working with this company for years.  Always VERY professional.  Keep up the great work!"

"Proficient at handling large volumes of past-due accounts."

"During my 30+ year tenure as a Business Office Manager for a flagship hospital, a very solid and profitable business relationship was maintained with Credit Service Company. "

Friendly and Helpful

""We have been using Credit Service Company for many years and are very happy with their service…so friendly and helpful!" -Leslie S.  "

Always Satisfied

""I have been using Credit Service for my collection needs for over 20 years and have always been well satisfied with their service." - Steve Mcallister, owner, Royal Janitorial "

Great Service

""Great Service!" -Janice L.  "

Good Experience

""Our company has had very good luck using Credit Service Co. to collect on past due bills. We have had an all-around good experience." - Ellen S.  "

Provide Excellent Customer Service

"I am pleased to recommend the services of Credit Service Company.  Our emergency medical clinic has used Credit Service Company for the past 9 years.  During this time, they have always provided excellent customer service to our customers and given us no cause for complaint.  We have found them to be sincere, professional, and efficient in the collection of accounts. ~Emergency Medical Clinic Business Office Manager"

Excellent Results

"We have been using Credit Service Company since July of 2011.  During this time, I have been nothing but pleased with the service we receive. "

Very Helpful in Advising

"I wholeheartedly recommend Credit Service Company.  They have been instrumental in collecting fees owed that otherwise would have been lost to me.   "

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