The Art of Collecting with Suggestions, Forms of Reports, Letters (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914. Excerpt: ... APPENDIX Collections And Credits From The Credit Man's Standpoint Collections And How To Handle Them (Article I) By John L. Bergman, of Pass & Seymore, Inc., Solvay, N. Y. The collection of accounts is the test of credits. A credit manager's judgment is vindicated, in extending a doubtful credit, provided he can collect the account; and a good collector can do this if he has properly established the extent of the risk taken in extending credit. A good collector is a combination of nearly all the requirements which make the live business man. He must be resourceful in methods, diplomatic, courteous, and withal capable of drastic, kind, severe, generous, relentless or amiable moods, in fact, of every temperament that fits the particular requirements of the task in hand, when he undertakes to separate his debtors from their money. A method that works well with one debtor may fall flat with another. A method that builds business through courtesy and kindness with one man may, with another, result in loss of money. Therefore permit me to say with emphasis, "Know your debtor." The entire material of this appendix Is taken by permission tram tk- Bulletin of tbe National Association of Credit Men. To know the debtor, the credit man should have before him, so that he may see it at a glance when he writes his customer requesting payment of his account, all there is to know relative to the latter's financial responsibility and integrity; also a history of the business conducted by him, and of his rise and fall from a business viewpoint. This may be acomplished by the use of cards, size five by eight inches being most convenient (see accompanying form). Use one side of the card for complete credit information and the other for collection record. These cards shou...