Keep Your Clients, Collect Your Receivables: Collection Tools & Techniques for Lawyers and Law Firms

Front Cover
Wordclay, 2008 - Collecting of accounts - 151 pages
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Contents

COLLECTIONS AND THE LEGAL INDUSTRY
1
Fair Debt Collection Practices Act FDCPA
2
Prohibited Practices
4
Communications with Consumers
7
MiniMiranda Warnings
8
Debt Validation Notice
9
Verification of the Debt
10
Continuing Collection Activities
11
Five Secrets of Successful Recovery
75
SELLING AND RESELLING CREDIT
77
Crating Desire
78
COLLECTION PROCEDURE GENERAL DISCUSSION
79
General Plan of Collections
80
Questions of Procedure
81
The Stage of Selling and Resale
82
The Stage of Notification
83

COLLECTION OF PROFESSIONAL ACCOUNTS
13
The Need of Resale
15
Resale Methods
16
When To Hire A ThirdParty Collector
17
STUDY OF DEBTORS
19
Lessons Learned from Our Children and Pets
20
Good Pay
21
Bad Pay
23
Execution Proof
24
THE PSYCHOLOGY OF COLLECTIONS
25
Establishing Impressions of Service
26
The Tone of the Appeal Diplomacy
30
Requisites of a Good Collection Letter
31
The Value of Habit
33
Obtaining Payment or Explanation
34
Maintaining Respect
35
Obligation and Advantage
36
Granting Extensions
38
Getting Back On Your Feet
39
Resale The Appeal to SelfInterest
40
Meet Us HalfWay
43
Unwillingness to Take Severe Action
45
The Desire to Avoid Annoyance
46
The Appeal to Fear
48
Phrases that Suggest Urgency
49
Increasing Severity
50
The Appeal to Curiosity
51
The Desire for Success
52
Meeting Strenuous Conditions
54
THE PRINCIPLE OF RESALE
55
Reawakening a State of Mind
56
The Value of Resale
57
The Money is Due and Must be Paid
58
USING THE PRINCIPLE OF RESALE
61
Inspirational News Items
62
Collect While the Mental Image is Fresh
63
Does Resale Abandon the Creditors Rights?
64
Motivating Factors
65
Are Resale Policies a Needless Expense?
66
ACCOUNTS RECEIVABLE MANAGEMENT THE QUICK CLEANUP
69
Getting on a Sound Basis The Solution
70
Compromises
71
Preventing a Relapse
73
Increasing Cash Flow and Reducing Turnover Time
74
The Stage of Discussion
84
The Stage of Urgency
85
COLLECTION LETTERS GENERAL CONSIDERATIONS
87
Write your Own Letters
88
Study of Examples
89
What to Say and How to Say It
90
Essential Procautions
91
Does a Delinquent Deserve Courtesy?
92
Diplomatic Language
93
Specific Language
94
What Action is Wanted?
95
Long Sentences Short Sentences and Questions
96
An Abrupt Beginning
97
COLLECTION LETTERS REMINDER
99
Disappointment at No Response
100
A Friendly Letter that Brought a Reply
101
Additional Reminded Letters
102
Some Crisp Collection Letters
104
Guarantee your clients satisfaction
106
COLLECTION LETTERS DISCUSSION
109
Handling An Extension
110
Making An Proposal
113
A Plain Statement
114
A Last Appeal
115
Following Up Part Payments
116
Analogy to Business tools
118
An Appeal to Fairness
119
Friendly Earnest Discussion
120
A Suggestive Letter
121
An Unusual Letter
123
COLLECTION LETTERS URGENCY
129
Stronger Reminders
132
Petty Accounts
134
The Managing Partners Letter
136
COLLECTION LETTERS FINALITY
139
A Case of Unusual Importance
140
For Extreme Cases
141
The Note of Finality
142
Warning of Legal Action
143
Other Threats of Suit
144
CONCLUSION
147
BIBLIOGRAPHY
149
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