Image from page 49 of "How to collect money by mail; how to write effective collection letters--testing copy--planning a series--retail, instalment and dealer accounts--credit system--collection schemes and legal steps--how creditors cooperate to cure "sl
Title: How to collect money by mail; how to write effective collection letters--testing copy--planning a series--retail, instalment and dealer accounts--credit system--collection schemes and legal steps--how creditors cooperate to cure "slow pays" and bad accounts. 157 money getting plans adopted by 43 correspondents
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maxi- INSTALIMENT ACCOUNTS 45 mum percentage of trouble-making debtors. In a sense,your instalment buyers take their cue from you. If youare too harsh, they are ready to surrender the merchan-dise aad give up trying to pay. If you are slow or un-systematic, they fall into line behind you. If you ac-quire the reputation of letting skips get away, thiswill become a big source of loss to your house. Prompt-ness, fairness, inevitable certainty in tracing men andenforcing payment, make instalment accounts line upand keep step. Know Your Man CREDIT men should draw an imag-inary circle about each customer.The circle may be only a mile in cir-cumference or it may be several hun-dred miles, but it represents the sphereof the customers activities. Every-thing in that circle having any bearingon the customers business should berecorded on the credit mans cards orin his brain. No limited range of in-formation will suflSce, for it is only byknowing all about a man that you canjudge him accurately.
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CHAPTER VI Blocking out a Letter Camp)aign BRINGING in the money without making enemies orlosing trade—the aim in every collection problem—depends upon the tactful persistence with which youkeep to your debtors trail. Results hinge on the useof a letter series adjustable to the conditions surround-ing every individual debtor. By adopting a system of clock-work precision to lurein the dollars due, you rid yourself of many minordetails. Work out two points: (1) a close organizationof the collection department, and (2) a comprehensiveletter series for delinquents. Within the department, the system hinges upon aclean-cut policy towards outstanding accounts, and anautomatic system of follow-up which will keep the debtuppermost in the delinquent? mind. Fix upon the matter of terms for customers; then,whatever your choice may be, carry your terms promi-nently on sales slips, bill heads, invoices and statements.In fact, all of the credit departments notes and papersshould show the sales t
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