Stop Acting in Panic Mode

Every day someone on a news channel will talk about how “things have bottomed out” and “we are starting to come out of the recession / depression” with regards to our economy.  I don’t know what the Government sees but I do know that everyone I speak to is bleeding from their pores!  When fear comes in, common sense goes out the window.  I myself live in a county that continues to suffer housing devaluation. This causes people to put their homes on the market for greatly reduced prices.  Between that and foreclosures creating a housing glut, two things happen. First, people sacrifice everything to get out of the downward spiral.  Then, the county passes an edict without a residential vote that covers schools staying open and an active police force.  Hence, our property tax could increase by as much as 10%!  Mind you, that is not based on the the reduced market value but on the inflated county assessed value.  In business, the panic sets in because of the scarcity of profitable business from new and / or existing customers and this is when you start to do less than intelligent things to survive.  You will get deluged by your sales force with less than qualified sales as they are just as desperate as you are. Your credit people will relax their standards too because they are being pushed by an equally stressed sale manager.  By making these poorly qualified sales, your product and profit will be flushed down the toilet! The only way to win is to work smart before you work hard.

Guess Anyone Can Be Fooled These Days!

 This article is from the Juyl 1, 2010 issue of the Florida Bar News.  Mark Killian is the Managing Editor.

Attorneys are still falling for Internet scams

By Mark D. Killian

If you receive an unsolicited e-mail from someone in England or China or just about any foreign nation asking you to do collections work or facilitate the transfer of funds in a divorce or any other offer of good fees for what on the surface appears to be easy work, in all likelihood it’s a SCAM! That can’t be emphasized enough. Judith Equels, director of The Florida Bar’s The Florida Bar’s Law Office Management Assistance Service, said she recently received a call from someone at a bank in Inverness saying a lawyer was scammed. “The lawyer deposited a $691,000 cashier’s check sent from a Japanese company,” Equels said the banker told her. “Two days later, the lawyer wired out several hundred thousand. Shortly thereafter, the bank was notified that the cashier’s check was fraudulent.” Equels said the bank intends to collect from the attorney and wanted to know if they had to report the lawyer to the Bar. “I told them, ‘Yes,’” said Equels, noting the banker would not re-veal his name or the name of the lawyer. Clem Johnson, an auditor for the Bar’s lawyer regulation office in Tampa, said he’s no longer surprised when he hears of lawyers getting duped by fraudsters who troll the Internet for victims by sending out mass e-mails promising big paydays. “Believe it or not, there are attorneys in the state who are gullible enough to still fall for these things,” said Johnson, noting he has dealt recently with three attorneys who have been victimized by Internet thieves. In one instance, Johnson said the lawyer received a couple of checks from scam artists posing as a South African company that sells heavy equipment in the United States. The “South Africans” told the lawyer they needed his services to channel the funds to the company and that the lawyer could keep 10 percent of any transactions. Johnson said the lawyer did what the supposed client requested and sent $400,000 to the Bank of Yokohama in Japan. “Fortunately for him, the South Africans — or whoever they were — got things a little bit screwed up at the Bank of Yokohama and when the money came in, Yokohama said, ‘Huh? We don’t know anything about South Africans’ and they sent [the money] back to the Florida attorney,” Johnson said. Had the Bank of Yokohama not returned the funds, the lawyer would have been on the hook for the cash, he said. Lili Quintiliani, an assistant Bar ethics counsel, said another twist involves a scam real estate closing for an out-of-country buyer. “What is different about this is that a Realtor is scammed first then refers the sale to an attorney,” said Quintiliani. In this case, the scammers used the name of a real London physician, Dr. Peter Butler, a fictitious company, “Global Financial Management” and a supposed employee of the company, “Karen James.” If the scam goes far enough, the lawyer will receive a counterfeit bank or cashier’s check. There are ways for lawyers to protect themselves. Quintiliani said the first way is not to respond to unsolicited e-mails or do a Google search on the name of the e-mail sender, or key phrases from the e-mail, since scammers usually send out thousands of e-mails using the same assumed name. Quintiliani said there are now Internet sites set up to track such scams aimed at lawyers, and the search will likely link up to such a site if the scam e-mail is listed there. She noted one fraud scheme appropriated the name of a well-known Japanese sumo wrestler (without his knowledge). Lawyers, if they have the know-how, can also search the origin of the e-mail’s I.P. (Internet protocol) address. Some e-mails supposedly sent from Japan or China actually originated in Nigeria or other countries, Quintiliani said. Another is to check sites that are now dedicated to tracking those scams or providing some examples of scam.

• www.scamoftheday.com

• www.lawyerscam.blogspot.com

 • www.scamwarners.com.

• www.ripoffreport.com.

A Conversation with the Dog

Did you ever notice that having a conversation with your dog can be so much more full filling than any conversation you could possibly have with the client that owes you money?  All the dog is doing with you is bonding.  Sure the client wants to bond but eventually you realize that the client has ulterior motives.  This is when the client figures that you and they have bonded enough and he doesn’t need to pay you!

 

As for the dog, a good dinner, a biscuit, a warm bed and attention are all he or she requires requires.  The dog is always there when you call and even if the dog (like the debtor) doesn’t respond to your request, he or she will ultimately bring you much more joy than the debtor…even when the debtor pays!  I mean, how many doggie debtors do you actually know? 

 

To paraphrase the great George Carlin….dogs think that you are “it” because you feed them!  Cats think they are “it” because you feed them.  But cats are a different story in that they are like debtors always trying to convince you that they don’t need you.  In the meantime, let us talk to the debtor while you talk to the dog.  As a whole, it will be much more rewarding.  Call us @  800-868-9298

The government is practicing genocide.

    

The government is practicing genocide on this nation’s people, and those that try the hardest and last the longest, are forced to suffer the most.  While those involved in the profiteering that brought us all to our knees still sit on their thrones, as they are not punished or even chastised. They are the disciples of the dollar, having been only interested in short term promise with no concern for long term dollars.  They have farmed out the future of our innovations to child labor countries, so that pennies can be paid, instead of an honest days pay for an honest days work.  

They have stood by while a housing value glut was created by the sales of inflated value home loans until the lightening bolt of reality sizzled the bubble.  Who was it that bailed out the banks and auto industry?  How is it that these barons of bankruptcy make money, no matter which way the market goes, yet our property tax goes up even though our housing values go down?  If you have a small business and you want money from a bank, you had better pray, because even though your non-refundable dollars bailed them out, they are not giving you a dime.  

Hey, what about the oil spill?  It seems that everyone is pointing fingers at who is responsible but we all know the truth and again who is ultimately most damaged by the spread of oil in our invaluable oceans?  You guessed it,  all of us!  

It always seems that we as a people are getting the short end of the stick even though we didn’t do anything wrong.  We follow like sheep and we get sheared every year anyway by a government that practices politics by taking care of those who already have plenty and those of us who work for a living and are struggling just to make ends meet,  are shoved to the side of the road like snow cleared by the big political snow plow.  

Yeah,  you are right, I am just a collector.   I work hard for my clients and I work hard for a living but don’t confuse relentless with ignorance.  We are all fighting for survival.   I just enhance my client’s odds.

Robbing Peter….

 

Robbing Peter to pay Paul is a concept that has been around since before the discovery of fire. It comes in many forms. Hey!  We have all done it at one time or another!   You know….do I pay the power bill this week or  the credit card company.  No brainer here…you pay the power bill!  The credit card folks can wait a little longer for their’s because right now it is more important to keep your lights on.  Yes, you will pay on the card, just not this week!  So, we are not really “robbing” Peter…just putting him off for a bit. 

 

It is one thing to rob Peter to pay Paul but when  someone robs  Peter and Paul to pay  themselves, then they become the bad guy!   They are now a debtor.   These folks make  their living by taking advantage of the credit that others offer.   The debtor sells off the product sent  by  you,  the first supplier, keeps  all the money and then move on to the next sucker.  Not only  are they  robbing  from Peter and Paul, but  from everybody and their brother as well.

  

Nevermind that the you or your collection people dare to call  and ask when  they  plan on paying your invoices!   The debtor  either coils  up and pleads  broke or lashes out and insinuates  that the client is in the wrong. (Lousy product, lousy service…etc .)  Of course, this only comes to light after the first collection call is made.  The collection agent and the clients are not the bad guys here.   The debtor is the gutless mercenary  who makes their living by stealing everyone else’s!   They,  the debtor, really have no excuses!  If  they  were in the liquor business one missed invoice  would have them black balled but since  the debtor  is  in another type of business  they  will keep on trying to get away with everything thing  they can.   Debtors, are nothing more than a heartless bullies!

 

Now this is where we come in.  At International  Recovery Services we have heard it all from “I never received and invoice” all the way to “my dog ate it”!  While our client may have listened to and even believed all of  the debtors  excuses, we don’t and we won’t!  We can’t be bullied, though many have tried.  We don’t take “no” for an answer either.  “No” is not in our vocabulary.  We will not back down until you get paid! It is as simple as that!

 

While we’re at it, why don’t you give us a call at (800) 868-9298 so you’ll know that we are for real!

The Bean Counter

 

You make and market a product.  You sell the product for a profit, but then, all of a sudden you start seeing less profit!  Why?  Because your not getting paid by your customers…the distributors, vendors… whomever…they are just not paying you.  Instead of seeking professional help for this debt dilemma, you turn it over to your company “bean counter”, the finance guy in your office.  What does he do?  Nothing but advise you on how to save money.  You know, dim the lights to save on the electric bill to which you say “no” to because it will keep customers away and you won’t be able to sell your product.  Now how does your  company bean counter equate any of this with collecting your outstanding invoices?  He doesn’t!  He can’t!  He’s there to advise you with regards to cost effectiveness not debt collection effectiveness!  You would be dead wrong to think otherwise!

 Now you panic!  You try to make deals. Doesn’t work!  You send more invoices. Nope!  Make phone calls and believe every empty promise and pathetic excuse that the customer can throw at you. Now comes the really fun part!  Instead of finding and listening to the voice of reason that could be tucked away somewhere in your mind, you simply panic and it becomes too late to apply a final decision, even if it was a good one to begin with!  Finally, everything is so impossibly screwed up that even you can’t screw it up anymore much less un-screw it!

 Now you think, “well maybe I should use a collection agency but I don’t want to give a percentage of the money away…hmmm…should I risk it?”  Hey! You receiving any money now?  Uh….NO!    

We take risks everyday…crossing the street, bungee jumping, eating at the roach coach…but risk isn’t the issue here, having faith is.  Run to it, don’t run from it!

You don’t know how a debtor thinks. A very large percentage of your skill set in getting the product to market and is based on the fact that if the product sells through, you will be looking for profitable re-orders and that is where you stop thinking!  Only a very small percentage of your skills set, if any, are allocated to deal with a debtor.  Why make your liabilites larger than they have to be.   At International Recovery Services we know how the debtor thinks!  Why?  Because debtors make up 100% of our business. That is all we do!  So instead of wasting time arguing with your bean counter about the lights, call us! 

International Recovery Services

800-868-9298 

Collection Technology is for the Birds!

There are so many collection agencies out there these days it’s hard to know where to start when it comes to choosing one. 

 

You know only two things: 

 

1) Your client and / or clients owe you a lot of money. 

2) You need help getting paid.

 

So, you start shopping for a good commercial collection agency and that can get a little scary!  Many agencies and their sales people with attempt to dazzle you with their up to the minute collection technology. They will show you the programs where you can view your accounts online via their website to track the activity on your account.  Amaze you with  predictive / auto dialer software and on and on! 

 

Now viewing your accounts and collection activity can be a good thing but why should you, the client have to take the time to even check it?  Part of their fee  includes account reporting from the agency, whether on a weekly, bi-weekly or monthly basis.  I mean…you are paying them, right?

 

Then there is the auto dialer…the predictive dialer…the most annoying piece of technology that man has ever developed!  Now, if the verbage delivered by these things could rival that of the Declaration of Independnce, the Gettyburg Address or I Have a Dream speeches then, to tell the truth, collection agencies would no longer be in business!  Collection Attorneys, maybe!

 

These insipid devices are insulting not only to you, the client, but to the debtor company as well.  Trust me…if these type of calls actually make it to a real person and not a voice mail, they are definitly going to get hung up on.  If these calls reach a voice mail, only part of the message is recorded because the pre-recorded message starts way before the beep!  We’ve have all had them call our business and personal phones hawking everything from credit cards to dial a prayer.  If your not buying from one of these calls do you think your debtor is going to?  It is probably the dumbmest way to acquire money that I know of!   

 

At International Recovery Services our motto is “We are not them” and with good reason!  We communicate directly with not only the debtor but with you, the client without any gimmicks.  We collect the old fashion way…we pick up a phone and call!

 

So, make a call yourself.  Contact us at:  (954) 963-9298 or (800) 868-9298  or visit our website at www.abad-debt.com .  We will get you your money!

 

 

The First Annual Collection Oscar Awards

The Oscars for the Hollywood set are over.  Now, it’s your turn to help us choose some of   best Creditor Stories for 2009!

This contest is open to all Commercial Creditors only, no agencies or attorneys.  Simply post a story in one or all of the categories and we will put it up there for all our readers to vote one.  Winners will be announced on Wednesday, March 31, 2010.  All winners will receive a $25 gift certificate.

 There must be at least ten creditors per category, so submit your stories and let’s have some fun! 

Categories: 

Best Excuse by a Commercial Debtor

Best Sad Story by a Commercial Debtor

Best “How Stupid Do You Think I am Funny Story” by a Commercial Debtor

Most Continuous Ongoing Stall Tactic Story

Most Bounced Checks by Single Commercial Debtor

Most Money Owed in an Obvious Scam by a Commercial Debtor

Most Repeat Invoices Sent by a Creditor to a Single Debtor

Best Debtor “On Hold” Music or Commercial (like when they leave you on the phone?)

Best Threat Made by a Commercial Debtor   (The “It’s All YOUR Fault” Award)

Hello – Physic Hotline

“HELLO – PHYSIC HOTLINE”

“Please hold….” 

If this is how the phone is being answered when you call a client to inquire about your past due receivables, then you need to realize that you have other and better alternatives. 

Cultivate a degree of paranoia.  Keep in mind that if they are really out to get you or rather, not pay you, it is not being paranoid, It is just good common sense!  You can hope for the best, but you damn well better prepare for the worst! 

As the economy continues to stink no matter how the government tries to spin the story, all things being equal, if you continue doing business as you have, your risk factor increases by very frightening numbers.  The signs are there.  Read them. 

Not only do you have to stop counting chickens before they hatch, you have to be sure of the eggs getting to the incubator, that means front end protection.  If you have not been severely slammed yet, it is nothing but luck, and it is a safe bet your turn will come. 

Start looking at sales like a cop stop.  No matter why you are stopped – license, registration and proof of insurance, that is their big three.  

Your big three should provide you with a livable comfort zone.  

1.  Credit Application:  I say “credit app” and everyone goes “yep, got that one covered”.  You would be surprised how many credit applications get rammed through by heavy handed sales managers prior to verification.  So, just what is it that gets verified?  The correct corporation name and address, if the corporation is in good standing, and more available information free from the corporate division of most Secretary of State Offices.  Insist on more information.  Credit rating and references anyone? 

2.  Personal Guaranty:  Do you have a Personal Guaranty (PG)?  Was there verification of a driver’s license and social security number?  Does your PG have a stand alone section to be signed by an individual?  If their signature includes their position or title, then they signed as an officer not as an individual. 

3.  Proof of Delivery: What about Proofs of Delivery and the fact that post dated checks are not checks but merely promissory notes.  Have you deposited your bad checks the second time?  Does your client agreement have a clause pertaining to bad checks?  To maintain any profitability at times such as these, you must stay on top of your receivables, not the client’s excuses!  

Finally, do your terms include an interest rate in line with banks and credit cards?  Can you afford to without this legitimate source of revenue?  Your kindness and generosity for allowing over extensions of dollars or days will more likely result in a bankruptcy of one sort or another instead of payment. 

Call us!  Let us lead you through the maze of excuses that stand between you and your money.  You don’t need a physic, you need International Recovery Services!!!

Donkey in the Well

One day a farmer’s donkey fell down into a Well… The animal cried piteously for hours as The farmer tried to figure out what to do. Finally, he decided the animal was old, and the Well needed to be covered up anyway; It just wasn’t worth it to retrieve the donkey. He invited all his neighbors to come over and Help him. They all grabbed a shovel and began To shovel dirt into the well. At first, the Donkey realized what was happening and cried Horribly. Then, to everyone’s amazement he Quieted down. A few shovel loads later, the farmer finally Looked down the well. He was astonished at what He saw. With each shovel of dirt that hit his Back, the donkey was doing something amazing. He would shake it off and take a step up. As the farmer’s neighbors continued to shovel Dirt on top of the animal, he would shake it Off and take a step up. Pretty soon, everyone was amazed as the donkey Stepped up over the edge of the well and Happily trotted off!

Life is going to shovel dirt on you, all kinds Of dirt. The trick to getting out of the well Is to shake it off and take a step up. Each of Our troubles is a stepping stone. We can get out Of the deepest wells just by not stopping. Never giving up! Shake it off and take a step up. Remember the five simple rules to be happy:

Free your heart from hatred – Forgive. Free your mind from worries – Most never happen.

Live simply and appreciate what you have.

Give more. Expect less NOW …….

Enough of that crap. The donkey later came back, And bit the farmer who had tried to bury him. The gash from the bite got infected and The farmer eventually died in agony from septic shock.

MORAL FROM TODAY’S LESSON: When you do something wrong, and try to cover your ass, it always comes back to bite you!

Now ask yourself, if you apply this same scenario to debt collection, who would be the farmer, who would be the townspeople and who would be the donkey?