Bill Collector In A Box Advises Entrepreneurs How To Get Paid

Chasing down a debtor who is long overdue in settling a past-due invoice is a time-consuming and frustrating aspect of running a small or medium-size business. But what many business owners may not realize is that the procedures they put in place before they even conduct a credit transaction can make it easier to settle a past-due account down the road.

"By obtaining the proper information upfront--before any credit terms are agreed to--business owners can avoid unnecessary effort and expense later, especially if the customer is unwilling to pay or is trying to avoid attempts to be contacted," says Ryon Gambill, a collections professional and CEO of Marauder Corp., the company that designed Bill Collector In A Box to help entrepreneurs and business owners collect past-due invoices. 

To reduce the need for collections measures, Gambill advises entrepreneurs and business owners to implement the following policies into their invoicing and billing procedures:

- Collect personal and business references, including name and telephone number and the reference's relationship to the customer.
- Do not accept post-office boxes or private mail boxes as ship-to or billing addresses; be certain that you have the actual street address of the business.
- Obtain home, cell and work telephone numbers from your customer.
- If it is a business account, ask if they use purchase orders. If they do, record the purchase order number on every invoice.
- If you are extending credit to a business, get a personal guarantee from the owner.
- When dealing with someone who is not an owner of the business, make certain that the person is authorized to conduct business on behalf of the company.
- Ask for and verify bank and credit references before the first sale. If possible, and with the proper authorization, run a credit report. This will indicate how they have previously handled their financial obligations.

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