OUR COLLECTION PHILOSOPHY
When an account is referred to Williams & Williams, Inc.
we demand immediate payment of the entire outstanding balance. Typically, most
of the clients we represent grant credit terms of net 30. When we become involved, maximum
consideration has already been given in that our client has become an
involuntary banker by virtue of the customer taking between two and ten times
the normal amount of time to pay an overdue balance. The customer becomes a debtor and a bad risk. A company’s
financial problems cannot be corrected overnight. Debtors in financial difficulty tend to worry about day-to-day
survival and cannot make the necessary major changes that will result in
Our philosophy can be summarized as follows:
initially demand all of the money due.
must be justified by financial disclosure.
debtor we pursue must agree to give the client we represent preferential
the scope and pressure as broad and as intense as possible.
the situation, determine collectability, and avoid the futile exercise
of “throwing good money after
detailed reporting (no checklists) enabling detailed accountability for
our clients’ credit personnel to pass along progress reports to upper
agree to a settlement without a client’s consent.
to prevail upon the commercial collection attorneys to file suit on the
basis of court costs alone.
best aggressive attorneys possible.
support services free of charge.
along advisories outlining the latest techniques and trends in credit and
emphasize that the most crucial factor affecting collectability is THE
PASSAGE OF TIME.
our clients that an effective agency will generate bogus debtor
the “Red Flags” of financial difficulty and when uncovered, react quickly.
credit personnel whenever possible.
and maintain a decisive advantage with intimate knowledge of the Uniform
Commercial Code – the governing body of legislation for all open account
- Use of
pressure points specific to our clients’ industry.