One of major causes of overdue receivables is that business has not defined to its consumer customers and staff when accounts are to be paid. If consumer customers are not educated that accounts are to be paid on time, then chances are they'll pay late or sometimes not at all. Make sure that your company's terms of payment are clearly stated in writing to each consumer customer.

2] Invoice Promptly and Send Statements Regularly

If you don't have a systematic invoicing and billing system, get one. Many times consumer hasn't paid simply because they haven't been billed or reminded to pay in a timely manner. This situation usually occurs in smaller or newer businesses where they're short on staff to invoice and bill.

3] Use "Address Service Requested"

One of most difficult collection problems is tracking down a consumer customer who has "skipped". All businesses should be aware of a special service offered by Post Office. Any statement or correspondence sent out from a business or professional office should have words "Address Service Requested" printed or stamped on envelope, just below your return address in top left corner. If a statement or invoice is sent to a customer who has moved without informing you of their new address, and words "Address Service Requested" appear on envelope, Post Office will research this information and return envelope to you on a yellow sticker that gives new address or other updated information. If customer has placed a "forwarding order" with Post Office, Post Office is required to forward envelope to customer and give you a form #3547 with new address and charge you approx. 50 cents. This will keep your address files up to date.

4] Contact Overdue Accounts More Frequently

No law says you can contact a consumer customer only once a month. The old adage "The squeaky wheel gets grease" has a great deal of merit when it comes to collecting delinquent accounts. It's an excellent idea to contact late payers every 10-14 days. Doing so will enable you to diplomatically remind consumer customer of your terms of payment.

5] Use Your Aging Sheet, Not Your Feelings

Many businesses (or well-meaning people on their staff) have let an account age beyond point of ever being collected because he or she "felt" customer would pay eventually. While there are a few isolated cases of unusual situations, truth is that if you aren't being paid, someone else is. So stick to your systematic plan of follow up. You'll soon know who intends to really pay and who doesn't. You can then take appropriate action once you know where you stand.

6] Make Sure Your Staff is Properly Trained

And he also told us that global poverty will become history when we stop creating it.

How do we create global poverty? We target poor people, poor nations for credit laundering.

We use people, who are poorest in world and entice them into accepting aid in form of credit. These poor people must then get even poorer, by attempted to turn credit into money for greater glory of bankers.

There is an infinite supply of credit, because credit is manufactured out of thin air.

The trick is to say that credit is backed by huge assets. Assets which give security to recipient of aid, by telling them that money exists somewhere, is some form or another, with which they cannot be trusted, in case they default on loan. But they are led to believe that credit gives them access to real money.

It is not mentioned that even richest countries in world are hopelessly in debt and that there is no real money left to lend to anyone.

But "Credit is Okay, don't worry".

The instant that credit is accepted as a loan, international law declares that borrower now owes money and must pay bankers interest, until loan is redeemed with real money. Of course that can never happen, borrower would have to borrow even more money to redeem his debts.

But poor poverty stricken people, who have accepted credit as a loan of money, must pay interest or face even worse conditions. They are forced to grow food and produce cheap goods, both for sale in an overcrowded global market and starve in process.

This trick of getting poor people, to launder credit to create money for bankers is not seen for what it is by anyone. Not even by Nelson Mandela. Nevertheless Mandela knew that poverty is actively created and suggested wiping out all debts and giving poor a clean slate.