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10 Steps to Better Collections - RCA Collection Services

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10 Steps to Better Collections - RCA Collection Services

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  1. 10STEPSTOBETTER COLLECTIONS STEP 01 A NA C C O U N TP R O P E R L Y O P E N E DI SA NA C C O U N T H A L F - C O L L E C T E D . Weencourageourclientstostep- uptheirrecordkeepingandkeep yourclientrecordsuptodate. STEP 02 E X P E C TC L I E N TP A Y M E N T S A TT H ET I M EO FS E R V I C E . Asurewaytoreducecollectionsis toextendaslittlecreditas possible. Seemslikeano-brainer, butcreatingnewpaymentpolicies willhelpyourbottomline. STEP 03 H A V EAC O L L E C T I O N P L A NA N DS T I C KT OI T . Ifyoudonotalreadyuseone, be suretohaveyourprospective customerfilloutandsignacredit applicationand/oracontractprior STEP 04 toservice. R E V I E WY O U RC O N T R A C T . Makesuretoincludelanguagein yourcontractthatallowsfor interest, attorneyfeesandcourt costsincaseoffuturelegal actions. STEP 05 I FI T ’ SN O TP O S T E DI TM A Y N O TB EL E G A LT OC H A R G E . Makesurethatyouarevisibly postingyourabilitytochargefor interestorlatechargesandthat thereisachargeforreturned dreamstime_m_25145504checks.

  2. LET RCACOLLECTIONS WORRYABOUT COLLECTINGYOUR MONEY STEP 06 K N O WY O U RL I M I T A T I O N S ( C A L I F O R N I AS T A T U T EO F L I M I T A T I O N ST H A TI S ) Ifyouhaveasignedwritten contract, thestatuteisFOUR years. Thisstatueappliestothe timeperiodlegalactionmaybe takenagainsttheaccount. Itgets updatedwitheachpaymentthat STEP 07 U S I N GAC R E D I T R E P O R T I N GA G E N C Y E X T E N D SY O U R C O L L E C T I O NP R O S P E C T S . youreceive Oncecreditreported, anaccount staysonadebtorsCreditReport forSEVENyearsfromthedateof service. Whenthedebtor’scredit statusbecomesimportantto them, theyareoftenveryanxious topaytheirolddebt. STEP 08 C O N S I D E RM O V I N G C E R T A I NA C C O U N T ST O J U D G M E N T . SmallClaimssoundslikemore workthanitisandonceyouhave aJudgmentyounowhaveTEN yearstocollect. Thecourtsallow numerousmethodstoenforcea judgment, includingtheabilityto attachpropertyandlevybanks. STEP 09 D O N ’ TG I V EU P ! Ifyouhaveaccountsthatarein yourdrawerun-worked, think aboutthenextstep. Ifyouhave gonetothetroubleofgettinga judgmentonanaccount, donot justletitgatherdust. Remember thatyouhavetenyearstocollect. STEP 10 S E TY O U R S E L FU PT O S U C C E E D . Wehearmanyaprospectiveclient say,” Youwillnevercollectfrom thisperson, theyarealoser“ or “my debtorwillneverhavearealajob” toavoidthishopelessfeeling, pleasereread “Thingsto Remember #1.” Wecan’tsay enoughtimes, “Setyourselfupto succeed”.

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