Credit & Collections Kit For Dummies »

Steven A. Harms is a partner in Muller, Muller, Richmond, Harms & Myers, a 48-year-old law fi rm engaged exclusively in the collection business, with offi ces throughout Michigan and a network of attorney offi ces throughout the world for handling collection matters. Steve’s offi ce is located at 33233 Woodward Ave., Birmingham, MI 48009. He can be reached by phone at 248-645-2440 and by e-mail at steve@mullerfirm.com.

Steve is a frequent lecturer and the author of collection books, articles, and materials. He’s active with the International Association of Commercial Collectors and the Commercial Law League of America. He’s also an adjunct professor at Walsh College and has been listed in Who's Who in American Law since 1985. He was named one of Michigan's "Super Lawyers" in 2007–2008 by the publishers of the journal Law & Politics.

Aaron Larson is an attorney practicing law in Ann Arbor, Michigan. After graduating from the University of Michigan Law School, Aaron started practice as a quintessential small town lawyer, providing legal services to individuals and small business clients. He subsequently worked for the Institute of Continuing Legal Education in Ann Arbor, where he developed professional education programs for lawyers in areas such as business law and collections. His current legal practice focuses on civil appeals. Aaron operates the ExpertLaw Web site (www.expertlaw.com), providing free legal information and assistance to consumers as well as resources for legal professionals.

Your hands-on guide to efficient, effective collection methods

Need to implement credit and collections policies that work? This authoritative, easy-to-follow guide gives you the strategies you need to convert your accounts into cash. From extending credit to proactively managing customers' payments to transitioning to collections, you'll get the tools to ensure your methods are both effective and legal.

• Establish good credit and billing practices — develop sound policies, carefully extend credit, keep good customers happy, and spot trouble early on

• Transition from billing to collections — increase pressure through written communications and phone calls when your customer turns into your debtor

• Step up collection efforts — locate hard-to-find debtors and their assets, bring in outside professionals, and deal with insufficient funds checks

• Take a hard line with your debtor — get the tools and information you need to move forward with litigation, with or without an attorney

• Know your legal rights — see how to avoid being sued by your debtor and find specifics on state and local laws

Open the book and find:

• Practical advice from seasoned credit professionals

• Plain-English explanations of legal jargon

• Your rights and duties in collections

• A quick contract law reference

• Ways to overcome disputes (both real and phony)

• Strategies for avoiding common credit and collection problems

• Hints for writing a new credit application

• Tips for improving your cash flow

• Helpful online resources

Learn to:

• Build a better rapport with customers and improve cash flow

• Collect from late or slow-paying customers

• Work efficiently with scripts, templates, and spreadsheets on the CD

Bonus CD Includes

• More than 60 customizable forms, letters, and spreadsheets in Word and Excel formats to help your business run smoothly

• See the CD appendix for details and complete system requirements.

Introduction.

Part I: Nice Guys Can Finish First: Making Good Use of Credit and Billing Practices.

Chapter 1: Getting to Know Credit and Collections.

Chapter 2: Credit 101: Defi ning and Applying Credit Concepts.

Chapter 3: Extending Credit Carefully While Controlling Your Risk.

Chapter 4: Establishing Good Billing Practices to Avoid Collection Headaches.

Chapter 5: Spotting and Reacting to Changes in Customer Habits.

Chapter 6: Stayin’ on the Right Side of the Law: Knowing Your Rights and Duties.

Part II: When Being Nice Isn't Working: Transitioning from Billing to Collections.

Chapter 7: When Your Late-Paying Customer Turns into Your Debtor.

Chapter 8: The Ins and Outs of Collection Phone Calls.

Chapter 9: Overcoming Disputes, Real or Phony.

Chapter 10: Closing the Deal: Wrap It Up in Writing.

Part III: When Things Get Ugly: Stepping Up Your Collection Efforts.

Chapter 11: Increasing Intensity to Achieve Collection.

Chapter 12: Locating a Hard-to-Find Debtor.

Chapter 13: Bringing in Outside Collections Professionals.

Chapter 14: Dealing with Bad Checks and Other Rough Spots.

Part IV: Taking a Hard Line: Suing Your Debtor.

Chapter 15: Determining Your Litigation Strategy.

Chapter 16: Understanding How Lawsuits Work.

Chapter 17: Selecting the Court.

Chapter 18: Surviving the Trial.

Chapter 19: Collecting a Judgment.

Part V: The Part of Tens.

Chapter 20: Ten Common Pitfalls in Credit and Collections.

Chapter 21: Ten Tips for Maintaining Cash Flow.

Appendix: About the CD.

Index.