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

The collection of debts is a challenge for most businesses even when the economy is booming. However, during times of economic downturn and recession, business entities will face a higher volume of slow-pay and no-pay problems with clients. Although geared towards the legal industry, this book contains valuable collection tools and techniques applicable to every business enterprise, including an overview of the Federal Fair Debt Collections Practices Act, psychology of debt collections, developing an effective recovery strategy for optimum success while operating in a compliant and ethical manner, and providing collection letters through all phases of the collection process that get the desired results. This book is an absorbing and fascinating study of debt collections, involving a broad spectrum of disciplines including business organization, psychology and marketing.