Many businesses fail to see the tell tale signs of a customer that is either unhappy with the product or service provided or customers that are heading towards delinquency. There are many signs that a customer is either going to pay extremely late or not pay at all. A few of the signs include:
Customers that have historically either paid late for products or services, have a history of being delinquent in their obligations or have credit history that shows they have historically managed their finances poorly are all clear indications of the credit risk a business could take on.
Customers that have not paid a business for their products or services and continue to make promises to pay are another credit risk for a business. Unmet financial obligations are a clear sign a customer is unwilling to pay a business on time or at all.
Returned or bounced checks and credit card payments declined are also a clear sign that a customer is either not going to pay or drag out future payments.
Customer cannot be tracked down: If the customer’s phone has been disconnected and/or mail to the client has been returned to the business owed money, it may be evident that the customer has moved, or is in even more financial difficulty.
“There are many signs a business can spot when it comes to late and non-paying customers,” states Jeff DiMatteo, a partner at American Profit Recovery. “As the age of an account is critical in the ability to resolve the matter, it is always good business sense to recognize the issue as soon as possible and obtain third party help before the bill becomes uncollectable.”
More on the subject of how to spot late and non-paying customers including an educational video that outlines how to resolve such issues can be found here; http://www.americanprofit.net/
About American Profit Recovery:
American Profit Recovery (APR) is a collection agency with offices in Massachusetts, Michigan and North Carolina. Founded in 2004, APR specializes in the collection of third-party debt in industries such as medical/dental, banking, trades, lawn care and other professional services. With early intervention and a strong focus on ethics and diplomacy with consumers, APR works hard to preserve the relationship between client and consumer with an ultimate goal of keeping the business relationship intact. The firm serves approximately 3,500 clients nationwide. American Profit Recovery and their team have earned many awards including Best Places to Work in Collections, The ACA International Foundation Fellow Award and Banker and Tradesman’s Gold Readership Award. 800-711-0023 http://www.americanprofit.net/