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olddebts.com

Discussion in 'Business Operations' started by firefightergw, May 25, 2006.

  1. firefightergw

    firefightergw LawnSite Gold Member
    from Texas
    Posts: 3,340

    I just turned one of my accounts into olddebts.com. What package do you guys and gals normally use? I used the Instant Collection Package and will report to credit agencies if don't receive payment in two weeks. What system do ya'll use on olddebts.com?
     
  2. GlennZ

    GlennZ LawnSite Member
    Posts: 56

    Not sure the name of the package but they send like 5 letters and I do report it to the credit agency. I have had some luck with this but I need to get the bad debts to them more quickly. I tried it with a bunch of old ones.
     
  3. topsites

    topsites LawnSite Fanatic
    Posts: 21,654

    I send a reminder myself to the customer after 30 days of completion, with an add-on note that says 'prompt payment prevents late fee'
    60 days after completion, I add 45 dollars to the bill and again send it to the customer, this time the note says: 'complete and prompt payment prevents credit record damage'
    75 days or so into it, I purchase the Instant Collect package for 6.95 and pay the +3 and report it to the credit bureaus right then and there.
    If I get paid in full any time in the future, I delete the credit record thing from within od's control panel.
    If I get paid without the late fee, I mark the account paid from within the cp but do not delete it, which means it stays on their record as a 'paid' collection issue.

    That's just how I do it nowadays, about to get my 2nd one to go this route.
    Come to think of it, 10 percent / month interest as well, wonder if I can do this via olddebts
     

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