Proactive steps to collect the outstanding debts through Alexander, Miller & Associates include signing of formal agreement between you and the debtor. Before that you need to prepare all the documents related to the listing of outstanding receivables. Aging accounts are considered to be the biggest trouble makers in calculating the balances. Make sure you have sorted out all the unpaid and partially paid invoices to the debtor company. You have to organize them in ascending order of financial year, starting with the oldest invoice. Then you could ask your auditor to evaluate them and prepare the final list of receivables.
Alexander, Miller & Associates –Demand Letter
Sending the demand letter through Alexander, Miller & Associates is the first step you need to take towards hassle free collection. The experts at the agency have the experience of conforming to the norms specified in the Fair Debt Collection Practices (FDCP) while formulating the letter. So, it is better to let them perform the task than trying to do it on your own. This will save you from all the legal complications which might arise during negotiations and settlements.
- Avoid Threats: – The federal law forbids you from issuing any threats or warnings to the debtors if they fail to repay the debts according to your schedule. The collectors at Alexander, Miller & Associates are aware of this rule and the other related regulations. Hence they mention only the probable benefits for the debtors if they are able to repay the outstanding balances.
- Suggest Schedule: – You might ask the experts at Alexander, Miller & Associates to suggest a repayment schedule to your debtors. Make sure your schedule is flexible enough to allow extensions of dates. This will put your debtors at ease and they might respond proactively to the demand letter.
- Be Assertive: – The tone of your demand letter needs to be polite but assertive. Provide all the required evidences in the form of invoices, books of accounts, outstanding reports etc. get your debtors to acknowledge them through replay mails. This will give you an advantage during the process of debt collection. The auditors and financial experts at Alexander, Miller & Associates have the expertise in following the legal procedures for easing out your task. So, you can certainly depend on their services.
Alexander, Miller & Associates – Follow Up
Regular follow up with the debtors is one of the key factors which can influence their willingness to repay the debts. But the follow up methods have to avoid all the negative parameters specified in eh section 806 of the FDCP, which are highly familiar to the Alexander, Miller & Associates. They can convince your debtors to enter into negotiations which are mutually beneficial. They ensure regular repayments in installments from the debtors without having to attach any of their property. This approach will also keep intact your good relations with your debtors. After all you are in business and certainly need to retain all your customers, including the long time debtors. Alexander, Miller & Associates can help you balance your business and help you collect your outstanding balances too.