Ultimate Credit and Collections Handbook [Paperback]

Michelle Dunn (Author)

Book Description

Publication Date: August 28, 2006

Entrepreneur’s experts show you how to boost your bottom line with credit and collections

Proper credit and collections policies are essential for a small business. They allow a business to make more money--even without making more sales--by more efficiently collecting from customers. Ultimate Credit and Collection Handbook teaches you how to create or improve a credit department, maintain a credit policy, and avoid bad debt. It includes up-to-date information on relevant state and federal laws.

Editorial Reviews

From the Back Cover

Get every penny you deserve

Do you have trouble getting your customers to pay you in full, on time? Are you plagued by bad accounts? Do you wish you could weed out bad customers in advance? Are you having trouble paying your vendors because your customers haven't paid you?

Ultimate Credit and Collections Handbook will help you solve these problems.

Learn how to:
• Make more money-without making a single extra sale-by collecting from your current customers more effectively
• Weed out bad accounts and offer credit only to qualified customers-resulting in more paid sales
• Increase your cash flow with a streamlined, organized credit department
• Navigate the confusing federal and state laws that govern debt collection
• Write collection letters that get results

Start implementing the effective strategies in this guide, and watch your bottom line grow.

About the Author

McGraw-Hill authors represent the leading experts in their fields and are dedicated to improving the lives, careers, and interests of readers worldwide

Product Details

• Paperback: 400 pages
• Publisher: Entrepreneur Press; 1 edition (August 28, 2006)
• Language: English
• ISBN-10: 1599180251
• ISBN-13: 978-1599180250
• Product Dimensions: 8.8 x 7.5 x 0.6 inches
• Shipping Weight: 12.8 ounces
• Average Customer Review: 4.6 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Best Sellers Rank: #290,295 in Books (See Top 100 in Books)
  • #25 in Books > Business & Investing > Small Business & Entrepreneurship > Raising Capital

More About the Author

In 1998, when Michelle was getting a divorce and had 2 small children, she started a collection agency from home leaving her full time job as a credit manager 6 months later. Her agency did very well and grew over the next 8 years until Michelle sold it to write full time. Michelle knew what business owners needed and had already written a couple of books that were selling well. "But it was still a huge leap", she says, "I was a single mom with two sons." I started putting together my ideas, set up a office in my home, and used the income from book sales to fund publishing more books.

That same year Michelle self published 4 books and e-books before landing her first book contract with Entrepreneur Press to write The Ultimate Credit and Collections Handbook, the check IS in the mail. She then self published a couple more business books before getting a book deal with John Wiley & Sons Publishing, for her first hardcover book, The Guide to Getting Paid, weed out bad paying customers, collect on past due balances, and avoid bad debt.

Today Michelle Dunn continues to write columns and books and presents webinars sharing how business owners can limit credit risk in this economy as well as learn how they can prevent some bad debt, and collect from past due customers. To learn more, visit www.MichelleDunn.com and www.Credit-and-Collections.com

An internationally-known expert on the topic of credit and collections Michelle Dunn is a leading authority on collecting money to businesses everywhere.

Michelle is often quoted in the Wall Street Journal and has been featured in Forbes.com, Smart Money Magazine, on CNN, MSNBC, Home Business Magazine, Entrepreneur magazine, Professional Collector, Credit & Collections Risk, the NH Business Review, and in many books and publications worldwide. Michelle has been a featured guest on (NPR) National Public Radio, the Jim Bohannon show and many other radio programs as well as being a repeat guest on television shows such as The Book Authority and Process for Profit.

Customer Reviews

Most Helpful Customer Reviews

2 of 2 people found the following review helpful:

5.0 out of 5 stars The ULTIMATE Credit and Collections Resource, May 24, 2010

By 

RADodwell (Raleigh, NC United States) - See all my reviews

This review is from: Ultimate Credit and Collections Handbook (Paperback)

The Ultimate Credit and Collections Handbook is an extensive resource that any small business owner should own. It covers a full range of business services including extending credit, managing risk, and ensuring prompt customer payment for your company's product or service. The ideas in the book are set forth in a clear and matter-of-fact manner by author Michelle Dunn, who obviously has many years experience in managing debt and collections for many different businesses.

The subjects cover the full spectrum of credit for a business including having a good credit policy, checking customer's credit reports, invoicing, offering payment discounts for paying quickly, and late charges for those who don't. It explains the proper methods to collect past due debt, and potential legal aspects of collection.

The extensive nature of the book goes beyond credit policy and simple debt collection to cover items including the name and phone #'s of the three major credit bureaus, ID theft, phishing, web links to a vast array of resources, and even a CD of forms a small business owner can use to ensure proper credit collections. A copy of the "Federal Fair Debt Collection Practices Act" is also included.

There is no doubt that this book will become an essential resource for any business owner.

1 of 1 people found the following review helpful:

5.0 out of 5 stars Ultimate Credit and Collections Handbook, June 28, 2010

By 

Angela Mangino - See all my reviews
(REAL NAME)   

This review is from: Ultimate Credit and Collections Handbook (Paperback)

Michelle Dunn has done her homework to provide small business owners with a guide to everything they need to know about credit and collections, with all the tools to implement it into their business goal. No matter the type of business, whether sales, service, or independent freelancer, this guide will help achieve business goals and help increase cash on hand for every type of business.

Learn about debt, credit, invoicing, credit policy, and collecting owed money. See how it affects small business owners and how to manage business finances. Put a credit policy into place to reduce the incidence of bad debt and unpaid bills.

Use the listed website resources to find out even more about application to individual circumstances. Have at hand samples of the forms needed, with the added bonus of customizable forms on the included CD-ROM.

In simple, easy to comprehend language, Dunn takes the mystery and intimidation factor out of handling this much needed, but often overlooked or handled incorrectly, aspect of business. The Ultimate Credit and Collections Handbook should be in every business owner's library.


Angie Mangino, former book reviewer at Inscriptions Magazine, currently works as a freelance writer and reviewer. [...]

10 of 15 people found the following review helpful:

5.0 out of 5 stars Working Pretty Good So Far, March 2, 2007

By 

John Matlock "Gunny" (Winnemucca, NV) - See all my reviews
(REAL NAME)   

This review is from: Ultimate Credit and Collections Handbook (Paperback)

Most businesses typically give credit to their regular customers it increases sales, makes it more convenient for everyone involved, and is generally speaking good busines sense. But then there is the percentage who don't pay their bill. What do you do then?

In my case the amount owed to me was too small to interest a collection agency, but big enough that it would have a significant impact on my own income. I then got a copy of this book. The author claims to have a bunch of years of expeience in credit and debt collection. And the book reads like she knows what she is talking about.

Perhaps the most important thing is that there are a bunch of legal rules that limit what you can do. After that she gives you some ideas about what to say either on the phone or in a letter -- which are also on a CD included with the book.

I haven't gotten everything collected yet, and I can't say that I enjoy the process. But I've made pretty good progress and it's something that has to be done.