Haven’t You Waited Long Enough to Get Paid?
Author: Jim Finucan

Business-to-business debt collecting is a different ball game
compared to collecting from an individual debtor. Once
a business debtor has owed you for quite awhile it’s perfectly
OK to take the gloves off and go all in an effort to get the
Money. After all, things have reached the point where you
wouldn’t do business with that outfit again anyway so you
have nothing more to lose! But first, be clear about what your
objective is: getting the balance owed to you paid in full.
Don’t be willing to accept anything short of that. .

It’s OK to threaten legal action (if carried out, this would
create a public record showing that this firm is stealing
from you). Essentially you are going to be calling this
person a thief to try and make him see himself as you see
him and thus make him change his mind about paying you.
You simply cannot be timid about it, nor can you approach
the campaign half-heartedly. The debtor already has you
figured as a pushover. He already has a catalog of excuses
set-aside just for you, so it’s up to you to convince him
otherwise. You have to have a mindset ready to sweep excuses
aside and convince him you mean business.

First, be sure you’ve reached the right person. Don’t mess
around with underlings or gatekeepers - they don’t cut the
checks. You want the owner or the guy who authorized the
purchase and is now telling someone else to ignore your
invoices. Seek him out. Call him as often as you need to,
even at home in the evenings if necessary. Let him know
in words or tone of voice that you are angry, and don’t be
overly concerned with business etiquette; it doesn’t apply
here. In fact, the federal Fair Debt Collection Practices Act
does not cover commercial transactions so you are pretty
much free to try anything, although common sense suggests
you avoid doing anything that would reflect badly on you
or your firm.

Here are some examples you might want to use:

You received the product, now I want my money,
and you’re going to pay it whether you want to or not

I have personal knowledge (if you do) of the assets
you hold. Now how are we going to settle this?

Are you a man of your word?

What kind of operation are you running there?

Are you ripping off other people as well?

Would you say your conduct here is honorable?
(With this one, be ready for the debtor to try some self-
justification. This will reveal how he justifies his conduct.
When you spot the excuse, point it out to him)

It’s imperative that you stamp out any objection or stall
tactics he may try until you have him on the ropes. Then
you can try to reason with him; just don’t waver in your
insistence on full and complete payment.

About the Author

Jim Finucan has over a dozen years as a top gun debt collector.
His debt collection manual Past Due! can show you how to
double your debt collections. More info is at
http://www.tiare.com/pastdue.htm

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