Sim
ply put, you must have a written credit policy that management buys into, that salesmen understand, that the credit department supports.
Some customers and contracts are not worth pursuing. They are black holes where the profit margin is razor thin and the contract terms are too difficult to meet.
Consider that the real purpose of any corporate employee is to create profits for the shareholders. Harsh but true.
This should be your bible and must exist in writing. Levy – von Beck has assisted many clients in the development of a written, meaningful credit policy, of gathering support at the corporate level for buying into the policy, and of helping sales staff get behind the program.
Levy – von Beck has the same collection goals as our clients. Getting to principal isn’t enough. Reducing collection expenses by recovery of interest and fees helps to validate our services and to validate your choice of using our firm. Our bi-annual reports show clients the net cost of recovery (Fees charges minus interest and fees recovered).
Remember that all credit managers are, at some point, consumers of legal services. Think outside the box and let us help determine if you are really getting good value and returning maximum profits to the shareholders.
Our law practice also focuses on Construction Defects & Insurance Claims, Preliminary Notices & Lien Claim Services, Credit & Collection Services, Real Estate Disputes and Condominium and Homeowner Association issues. If you need legal advise, call us today!
