Caribbean Assets Recovery Services Ltd.

A division of: Jamaica Collections & Recovery Services Ltd.

1. PREPARE: Review the paperwork on the debtor before making the call. Know the history of the account, credit record and the promises kept/broken. Have all records in front of you, ready for reference.
2. ATTITUDE: Adopt a straight, professional business-like attitude. You have a contract, you delivered the goods, money is owed, and you have a right to expect payment. Never let it become personal. Don't yell or raise your voice; and NEVER swear. Don't threaten; legal action is your recourse.
3. CONTACT: Make sure you're talking to the right person. Don't let the individual brush you off with "You'll have to talk to the bookkeeper." Identify the person who will pay the bill. If you can't get through after several calls, tell the secretary that you know your calls are being screened. Indicate the purpose of your call and if necessary give deadlines.
4. CONTROL: Control the conversation. Keep it focused on the debt and on the repayment schedule. Don't let the customer sidetrack you with personal history, excuses, etc. Remember, the object of your call is to collect money, or get a commitment, not to become buddies with the customer or win arguments.
5. FLEXIBLE: Be ready to adjust to the situation. Think about the kind of customer you're dealing with and adapt to meet the circumstances. Be prepared to accept a reasonable payment schedule, and a willingness to deal with the customer's circumstances.
6. NOTES: Keep detailed, accurate notes of every contact with the customer. Probe for further information on the customer. Notes of these contacts will help you in subsequent phone calls, and may be invaluable in litigation. Good notes will also help in further credit decisions.
7. PRODUCTIVE: Keep contact brief and to the point. This is a business call, not a social one. View your efforts on a ratio of time expended to results achieved. Long conversations probably mean the customer is stalling you, or trapping you in the buddy syndrome.
8. PRECISE: Never leave a contact open ended, such as "We'll talk next week," or "I'll send what I can." Every contact should result in a commitment to payment, of a specific amount, by a specific date, even the cheque number the customer is using to pay the pledge.
9. TIME: The longer an account is held, the less that will be recovered. If payment or a payout is not arranged within 90 days, place the claim with a collection agency or start legal proceedings.
10. PLACEMENT: Use a professional agency such as Jamaica Collection & Recovery Services Ltd. This will insure that you're dealing with ethical professionals who are fully able to guarantee your remittance.

1. Ensure that you have signed a contract. This may seem obvious, but many small-business owners still rely on verbal agreements when taking on work, that’s a big mistake. Ensure that you have something in writing.
2. Ensure that you have signed a contract. This may seem obvious, but many small-business owners still rely on verbal agreements when taking on work, that’s a big mistake. Ensure that you have something in writing.
3. Send out Invoice on time. Send the invoice out immediately after the goods are sent or the service is completed. Don't forget that many businesses simply don't pay invoices until they receive a statement. Do not delay sending invoices out. If you don’t do this you can’t expect to be paid on time.
4. Shorten your billing cycles. While most vendors take 30- to 60-plus days to pay up, there's no reason why you can't add a line into your invoice that reads "Payment due within 14 or 21 days," including the specific date. That way, you have reason to call your contact at the client's office sooner rather than later to check on a payment.
5. Rethink your invoices. Are your invoices too generic, too safe? While all invoices should include the client contact's name, the order number and the date the bill is due, don't stop there. Add a 5- or 10-percent penalty for late payments. Always list the project that you worked on-some clients simply need their memory jogged.
6. Get money upfront. Asking for an advance may seem "inappropriate" at first to some clients, but you're operating in a different world than your client. Positioning the request as a good faith gesture is a strong strategy. Chances are, you'll get it if you ask.
7. Call for payment as invoice becomes due —If the agreed-upon date passes, call your client and diplomatically point out that the due date for payment has come and gone. Set-up a collection timetable and stick to it. Print out your A/R listing each week and make calls for due invoice. Call if a promised cheque fails to arrive, chase it down again straight away.
8. Have the right attitude — Don’t be embarrassed about discussing money. Remember, if you’ve kept your part of the deal you have the right to be paid. Be polite but firm.
9. Inform your debtors — if you have habitual late payers, contact them and explain to them that you would like them to improve their payment to you. Try to foster good working relationships with your customers and suppliers so that it’s easier to resolve payment problems when they arise
10. Hire a debt Collector - Use a professional agency such as Jamaica Collection & Recovery Services Ltd to collect your debts as soon as they past 90 Days.