Selling products or services on debt is almost inevitable for any business that wants to survive in today’s competitive market. A business whether big or small will sell on debt not only to retain but also attract more customers. Thus there is a great need to hire a good commercial debt collection agent who will ensure that debtors pay on time and at reduced debt collecting costs. The first step should be to go through the past history of the agency. Common questions like the credibility and effectiveness of the agency should be answered at this stage. Such information can be obtained from the agency’s credible past customers or from rating and registering firms in the area. After getting a list of the best agencies then compare them depending on your preferred check list. This can be based on how fast each agency can give a service, the overall cost charges or the convenience of their payments techniques. Different agencies will charge different amounts as commission and thus a prudent business would go for the cheapest. Businesses should also consider the levels of assurance given by the debt collecting agency. Insurance is a very important principle in any business transaction because it ensures that in case of an adverse occurrence, the business will not suffer a total loss. Some assurance measures that are usually enforced are retention of some of the payments due to the agency until he recovers the whole amount and on time. A clause on penalties for late recovery should be inclusive.
Monthly Archives: July 2009
Direct Marketing Tips for the Small Business
You may be under the impression that Direct Marketing has gone the way of the dinosaur. While web and online marketing strategies are in the spotlight, direct marketing has its well established place. Small business direct marketing is invaluable if you proceed carefully. Effective copy, ad space and lead generating letters can still be a valuable tool to a small business owner. It is not impossible, and either you should have the talent that it takes to get a direct marketing campaign off the ground or hire someone to get it into your clients hands. By selling your client what they want before they know that they want it, you are one step ahead of the marketing game. A direct marketing campaign that makes this goal the focus will be your most successful.
Common Services Provided by A Commercial Collection Agency
Businesses that provide a specific product or service will often find themselves dealing with a handful of customers that cannot or will not pay their bill. In this case, the services of a commercial collection agency are needed. These services help to recover a portion or all of the money owed to the company.
There are many ways to recover money from customers with a debt collection agency. Choosing the right service will first depend on what type of debt the company is looking to collect. If it is for bad debts and past due accounts, a business will want to choose a business collection agency that provides services to assist the recovery of this money in the quickest amount of time. A commercial collection agency that handles dental or medical payment recovery issues are sensitive to needs of the business as well as the patient. This helps patients feel comfortable coming back for medical care even when they are slow to pay.
Commercial collection agencies also provide additional services for a lower recovery cost and a higher rate of payment. These services include direct deposit accounts for recovered money, bad check guarantees, and lower fee for using a combination of their services.
But some of these standard services may not work for all businesses. When this is the case, many commercial collection agencies will customize a recovery package for the business that helps to get the most money from delinquent accounts in the shortest amount of time. Customized services can also leave the business in charge of these accounts and only allow the collection agency access to information needed for the collection.
Commercial collection agencies can offer many services for small and large businesses that the business may not want to handle on their own. Many of these services are fast and effective for recovering money to add to the company’s bottom line.
Looking for a few good small business marketing ideas that work?
When looking for good small business marketing ideas you have to look closely because there is a bunch of non-effective advice on the Internet.
Here are some effective and affordable marketing ideas that will help you win sales during tight economic times.
A Look At The History of Product Liability Insurance
Prior to the year 1900, American businesses did not need to worry about having product liability insurance in place in case a consumer sued over a faulty or unsafe product. The theory of product liability and the need to have a business covered by an insurance plan that catered to product liability insurance comes from the industrial revolution.
Before machinery started producing quantities of consumer goods for sale, starting in the early 1900’s, consumers were expected to use their own judgment on if a product was well made or not. Quality craftsmen existed during this period of time, and they took pride in making individual products for sale.
As automobiles became popular after World War One, and factory production started including a labor force interested in running machines, the notion of product liability insurance started to become a thought that would still take years to develop. During the 1920’s and 1030’s early factory machinery did produce flawed items now and then.
Between the early 1900’s and the beginning of the 1940’s, consumers were buying products based upon a long-time theory of intelligence. It was assumed that consumers could tell when a product might be hazardous to buy, own, or operate, and that it was up to each individual consumer to use common sense while shopping.
World War Two changed how factory productions worked, and added the female population into the workforce. Factory machinery was streamlined, and more consumer goods entered into the marketplace. With the widespread use of electricity in new items becoming the norm, there was lots of product liability insurance type of claims entering into the court systems as consumers came in contact with faulty electrical products.
By the 1960’s our current expanded situation in product liability insurance issues was set into stone. Court laws had changed to allow consumer’s access to the manufacturers and distributors of items being sold that were unsafe. While consumers still shopped with the attitude that it was up to them to judge a products safety, the laws were letting some product liability lawsuit plaintiffs receive large amounts of money for claims.
Today, product liability insurance is needed by all businesses that make or offer products to consumers. The consumer is no longer required to use any judgment at all while using a product for the purpose that it was intended for. If the products instructions do not make it clear that an electrical appliance should not be used in a bathtub this is a potential product liability insurance claim problem.
Product liability insurance covers manufacturers, retail suppliers, and store owners if a product somehow fails to meet the public’s standards. Each product sold, including those from an antique store, must have all hazards announced to the consumer or there is a possibility that your store will be making a product liability insurance claim.
It is very advisable today, with the product liability situation the way that it is, that all stores, retail supply sources, and manufacturers have some product liability insurance on hand and available in case a problem comes up. The courts are known to give consumers suffering damages very large settlements at times.
Great Ideas For Hiring A Commercial Collection Agency
Running a business is about customer service and building client relationships. But, sometimes the money can get in the way and hamper years of good relations and rapport with your clients. For the most part, nonpayment for service is not intentional, but every bit as destructive to your balance sheet at the end of the month. Hiring a commercial collection agency should be done with careful research on their collection techniques. It took you years to build your clientele, and one late payment should not be your severance point with your customers.
1. Look for a commercial collection agency that has a professional appearance. If the firm works in conjunction with a law office, this will lend credibility and urgency to the payment request letters. Without seeming in a rush for the courthouse, a simple law firm letter heading gives your payment request envelope priority in your client’s stack of bills.
2. Look for a competitive commission structure. Too many collection agencies are greedy for top dollar. The money that they may collect is dead money to begin with. There has been no hope from your office to redeem payment, so the collection agency should take a smaller cut and waive any late fees for your client. Late charges and fees are hypothetical additions and need not be added to your struggling client’s bill.
3. Look for a collection agency that uses diplomacy and tact. Hiring a company to threaten or frighten your customer is a sure fire way to never see that client again. You worked hard to earn their business, and a simple late dental bill does not warrant their release. Collection agencies can be polite when they want to be and when they represent your business, they are in a sense representing you.
Becoming a Licensed Realtor in Texas: Step by Step
US citizens or legally admitted aliens, at least 18 years old and legal Texas residents, may apply for a real estate salesperson license from the Texas Real Estate Commission (TREC). The process begins with fingerprinting through a TREC-approved vendor. Completion of the remaining steps in the proper order will insure you reach your goal in the shortest time possible.
The TREC requires satisfactory completion of 210 classroom hours from a core real estate license education provider. Acceptable providers include colleges and universities with accredited real estate programs and Texas real estate schools such as Continuing Education for Licensing, Inc. (celi-edu.com). There are 3 required core courses: Principles of Real Estate (60 hours), Law of Agency (30 hours) and Law of Contracts (30 hours). An additional 90 hours is required, 30 of which must be an additional core real estate course, and 60 of which can be core or other TREC-approved courses.
Transcripts or certificates proving successful course completion must be submitted with a Request for Evaluation of Education Documents form and a$30 processing fee. This must be done PRIOR to submitting your license application. Upon receipt of your successful evaluation (allow 10 days), you may formally apply for your license.
The application for your Inactive Salesperson License can be completed online. A non-refundable fee of $107 ($97 for the application and $10 for the Recovery Trust Account) are payable online or by check or money order. The TREC notifies you when your application has been successfully processed. You may then schedule your exam.
The Candidate Information Brochure (CIB) provides you instructions on scheduling and preparing to take your real estate license exam. You have up to 6 months from the time your application is filed, to schedule and successfully complete the exam. Exams are conducted by PSI.
A background check may be performed. Your application is also an authorization for the TREC to conduct such an investigation at its discretion. Another verification is done is to determine if a prospective licensee is in default on student loans guaranteed by The Texas Guaranteed Student Loan Corporation (TG™). If you are in default, your application may be rejected.
Once you complete this process and successfully pass your real estate exam, you will receive a license which can then be sponsored by a TREC licensed broker. Once your license is sponsored you are ready to begin your career as a real estate salesperson.
Surety Bonds & The Guarantee To Pay
Are you looking for a way to obtain a service or services without laying out sizable amounts of money? Financial surety bonds might just be the way to go. Companies worldwide are seeking ways to decrease their initial monetary requirements. One alternative to laying out large amounts of money is a Surety Bond.
What Is A Surety Bond?
A Surety Bond is an agreement, between a minimum of three parties. The Surety, the Obligee and the Principal. The Principal is the individual or company seeking to obtain a service. The Obligee is the individual or company sought to provide a service The Surety is the company, generally a bank, guaranteeing payment to the obligee.
Who Needs a Surety Bond?
Anyone performing work based on a contractual agreement should consider requiring a surety Bond. The surety is guaranteeing that payment will be made regardless. If the obligee defaults, the surety steps in and pays the required amount to satisfy the contract.
What Are The Types Of Surety Bonds?
There are thousands of surety bonds available too numerous to name them all. However, just a few are the Performance Bond, Bail Bonds, Contract Performance Bonds, Deposit Surety Bonds. The Bail Bond is one of the most common forms of Surety Bond A Bail Bond is used to obtain the release of an individual from jail. When a Bail Bond is issued, the surety guarantees the inmate will appear for their court date. To obtain this guarantee, the surety is paid a portion of the original bail stipulated by the judge. When the amount required is paid to the surety, the release of the inmate is obtained. If the inmate fails to appear at their designated date of appearance in court, the full bail then becomes due. The surety then has the right to obtain the total bail required from the obligee.
When using a Bail Bond to procure the release of an inmate, an individual will guarantee the bail by sometimes placing valuable property up for grabs in lieu of the actual dollar amount required.
Who should Obtain a Surety Bond?
Individuals starting their own business without the necessary capital should consider a surety bond. The owner generally will need various types of permits to begin operating. The owners is required to follow all guidelines, rules and regulations established by the permit. If the owner does not abide by the required regulations included in the license or permit, the obligee usually the state or county government will seek compensation from the owner through the Surety Bond.
Another situation is when an individual is the executor of an individuals estate. In this case, a Probate Bond is required. The executor of the estate is required to obtain a probate bond when handling the estate as established in the deceased individuals will.
Next as an example is a Public Official Bond. Individuals seeking public office must obtain a Public Official Bond. The Public official Bond the attempt to guarantee the individual seeking office will, after being elected to office, act as state, county or local government requires.