Getting a money judgment against someone is only part of collecting what's due to you. If the judgment is acknowledged by the judgment debtor and paid, you're golden. However, if not, the money judgment must be enforced. If it's not enforced, it's just a useless piece of paper.

 

Over the years many of my clients have asked if Final Notices are required prior to account placement with a collection agency. The answer is no - you are not required to send a Final Notice prior to placing your claim with a collection agency. However some of my clients have found that this step brings them positive results, as the threat of sending the claim to a collection agency can inspire the debtor/customer to finally contact them with payment arrangements. So are they effective?

Recently I was going through my e-mails from ACA International, a trade association for credit and collection professionals. I came across a recommendation for a book written by Brian Tracy called "Goals!" I did what I normally do; I immediately went to Half.com to search for the book to see what it was going for. I'm not one to pay full price for books. I found the book at Half.com for $4.00 or $5.00 so I ordered it. I figured I had nothing to lose except for a few dollars. I had been looking for something to help me organize my work day and to help manage the growth of my collection agency more efficiently. I was not expecting the additional gifts I received by reading "Goals!" Not only did this book help me to organize my work day but it helped me organize my thoughts and my life.

 

 

Our goal for this newsletter is to provide our clients and others with informative collection tips to keep their accounts receivables manageable.

 

Each month, beginning in June, we will spotlight a client so that you can learn about the kind of businesses that use our services.

 

In addition, future newsletters will have contributing authors who will share information about various business topics that may be of interest to you.

 

Enjoy, and please feel free to email me with any suggestions. In addition, please feel free to forward this newsletter to anyone who may find it useful.

 

 

Thank you!

 

Jan Conte, President

Your Collection Solution. LLC

 

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