How can I Assign an Account for Collection with my Lien Program?
How Can I Assign An Job For Collection With My Lien Program®?
In an ideal world all of your construction jobs should be made completely collectable by timely use of your Lien Program®. Unfortunately, the world is not an ideal place, and even timely filing of your Notices to Owner and private or public lien claims will not result in your getting paid. At that point we strongly urge you to consider using a collection agency or attorney to recover your lost account. Don’t just let your accounts sit and do nothing! Every day past 90 days overdue results in a precipitous drop in collectability
Your Lien Program® can print out a collection assignment for your collection agent simply by finding the job in question, pressing the ‘Print’ button, choose ‘Collection Assignment’, and print your assignment. You can setup up a default collection agent on page 4 of your Lien Program® Defaults.
Frank W. Moore, CEO, founder of FWM Software and chief programmer, spent over 15 years in the collection field as a credit manager and as a collector and sales person for several large collection firms. He strongly urges you to consider a collection agency or attorney for your collection agent. While there are many avenues to consider for collecting badly delinquent debts (over 90 days), including small claims court and your own corporate counsel, time and time again it has been shown that collection agencies and attorney’s specializing in the construction field far outperform other methods, particularly if part of your collection action is to be a perfection of your lien claim. Use somebody who knows the ropes and who depends on results to get their fees.
While FWM Software is not a collection agent itself, we have lists of a number of companies that do provide these services. Several can be found in the Perfecting Lien Claims section of the Lien Information section of the Lien Program® Help File. More recently, we have companies that are providing collection services with 100% recovery to clients in some circumstances, and we will be listing these companies here in the near future. For more information presently on these services, contact Frank at FWM Software, (530) 622-1344-.
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