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Should I send Guido? (hb)

heatboy
heatboy Member Posts: 1,468
in THE MAIN WALL
How do you guys go about collecting past due receivables? This is an issue, I believe, we all have to deal with no matter what our businesses are. I get sick and tired of seeing hatchet jobs done on us by and in the media that show how corrupt and unethical we seem to be. We rip off the general public by over-charging for our services, or so the media would have everyone believe. I would love to see, although it will never happen, a story on how contractors get ripped off by builders and homeowners. Most of the contractors I know would love to go through their business lives on just a handshake, but we have to have agreements full of fine print just to protect ourselves in the eventuality of someone trying to get out of paying what’s due us.

Warm Regards,

hb

"Expert in Silent Warmth"™

888-UB-COMFY

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Comments

  • Jackchips
    Jackchips Member Posts: 344
    Good question

    that I have no answers for. I went the last 10 years before closing the business without a bad debt.

    This topic may make a good item for the round table. Bad debts: how they happen, how to avoid, how to collect and how to negotiate a settlement.
  • Gregg Jackson
    Gregg Jackson Member Posts: 55
    Here in Rhode Island............

    you send Guido and Rico is probably waiting for him - but it does work :)

    Gregg
  • Jerry Boulanger
    Jerry Boulanger Member Posts: 31
    Tell the deadbeat...

    that if you don't get paid, you'll phone all of his other creditors and tell them that you did.
  • tim from Reed Wright
    tim from Reed Wright Member Posts: 113
    past dues

    I am one of those people that wait way to long to get ahold of past dues. When I finally look at my AR, I call the 90 day+ collumn and tell them that we have a problem. This gets most of them to divy up. The ones who do not respond, I make a second call and tell them that it's 5 days before going to Guido. If no response, I may send it to collection or maybe not. Not the best way, but in general I get most of them to pay.
  • Rick Kelly
    Rick Kelly Member Posts: 40
    payback

    Have the gypcrete company make the next oil delivery. Case closed, so to speak.
This discussion has been closed.

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