This series of articles come from a fantastic publication put out by the IACC  (International Association of Credit Collectors).   It is well grounded and fundamental advise that should be ready by any professional involved in credit collections.


Speed is really the key to collecting past due commercial accounts since commercial accounts depreciate more rapidly than consumer accounts.

In planning and carrying out a billing system, a credit grantor should recognize that time is the safest refuge of any debtor. The more time they are given, the less likely they are to pay.   Hence, sales documents should be explicit about payment terms, return privileges, interest charges on overdue accounts, guarantee and service costs.

Varied Collection Programs Used

Collection programs should be organized around the company’s existing facilities. A series of letters used together with an account aging spreadsheet or data printout will help to track slow-paying accounts.  All systems should have an organized and mechanical follow-up of accounts at regular intervals, for instance, 10, 30 and 60 days past due.

It is essential to establish regular billing and collection procedures. Follow up on every account to the point where contact—or lack of contact—with the customer indicates some alternative action should be taken.

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