Current Newsletter
Collection & Credit Insights
March 2005
Using Better Judgement
Over the past year our entire legal process has been getting an overhaul. Our focus was to improve ?quality and to refine our standards qualifying a debtor for possible litigation. We began the re-engineering in the interest of improving the quality of accounts that we litigate on your behalf and making that litigation much more effective. What this means to you is making better use of judgments; these are typically not the challenging part of suing a debtor. The challenge is in the collection of judgments. We must confirm that there is reasonable evidence that your debtor has a legitimate asset to levy or property to execute?? that?’s the hard part.
Along with procedural changes in our internal pre-legal and legal follow-through? we have sharpened up on the tools utilized by our attorneys who represent you. One such example is to monitor our own laws in this state regarding the legislative environment? such as the recent revision to judgment lien procedures. June 10, 2004? H.B. 5381 was signed taking immediate effect. The following is the legislative analysis from the Michigan Legislature compiled laws of 2004:
This bill amends the Revised Judicature Act to add a new chapter specifying procedures for filing a judgment lien. Judgment lien would mean a burden in favor of a creditor against a debtors interest in real property. A judgment lien would be in addition to and separate from any other remedy or interest created by law or contract. (A judgment lien is, generally speaking, a lien on the property of a debtor resulting from the decree of a court resulting from a lawsuit.)
Now placing a lien on property isn’t going to happen on every case we have. Cost and judgment balance among other factors to determine the best action for recovery when the consumer refuses to give up the payment. But you should recognize that when you sign the suit authorization form for the attorney to move forward on the collection of your claim through litigation property liens are a possible legal tactic. Other actions for example, may include creditors exams, bench warrants, property execution, bank garnishment, and tax garnishment. Certainly if your organization or facility has any objection to these proven legal standards you should contact your sales representative here at the Bureau and advise her.
Overhauling workflow and perfecting the collection processes is an ongoing activity. We are using better judgment on who to litigate and it's proving its worth. We take on your accounts receivable with the intent to collect. After all, we don’t get paid until you do.
Tom Oldani—General Manager
Office Location
Ann Arbor Credit Bureau
(734) 665-6173
(800) 710-4821
Upcoming Events
Credit Professionals of Ann Arbor
March 8, 2005
Collections Seminar
March 16, 2005
Welcome to Our New Clients
- Great Lakes Towing
- Great Lakes Specialized Carriers
- Curves-Harbor Towne & Melvindale
- Eric Amberg
- Leroy Piehutkoski
- Greenwood's Lawn Spraying
- Tech Logistics
- Suzette's Masters of Dance
- Fenton Phys. Therapy
- Fenton Fitness
Whereever you go and whatever you do,
May the luck of the Irish be there with you!!!
High Payment of the Month! High payment honors of the month go to Louise. She collected $1295 for a local towing company.
Nice job Louise and congratulations!!! Credit Professionals of AA Meeting
Credit Professionals of Ann Arbor will meet at Weber’s Inn, Tuesday, March 8, 2005 from 7:30am to 9:00am. The featured speaker will be John Drennan, from Prepaid Legal Services. The topic of discussion will be identity theft and how to avoid becoming a victim. Meeting fee is $10.00. Please contact Rebecca Burk at 734-994-6928 for reservations.
Collection Skills Seminar
No one likes to go and sit in a seminar for half a day where the speaker has a monotone voice and it is all you can do to keep your eyelids open. Well no fear of that at our Collection Skills seminar! Our General Manager, Tom Oldani, is our speaker and he keeps your attention from beginning to end. He makes learning not only interesting but fun. We are presenting our next seminar on Wed., March 16, 2005 from 8:30am - 12:30pm. Seats are going fast, so hurry up and call 800-710-4821 to reserve your spot today! SKIPTRACING, BACKGROUND SCREENING, EVICTION RECORDS & MORE
The Public Record Bulletin (PRB) has been published by our agency for several years. In fact, after a little research we believe it started in 1928. And we think it is the oldest publication in Washtenaw County publishing under the same original name. It has been published with information from seven counties throughout Michigan and the number of readers throughout the years is unfathomable.
So it is with some sadness that we must inform you of the discontinuance of a long time tradition. However, we cannot let go of such a fine tradition without offering something new and improved.
Our PRB will be published through the month of January 2005. After that, and in the near future, we will roll out a new product line that we know will be more technologically advanced and have more flexibility. Our new product line will continue to offer Michigan criminal background searches, but will add new products such as nationwide criminal searches, background screening, and eviction history just to name a few.
As always we are researching our customer’s product demand and negotiating competitive pricing so that when we roll out our new product line, it will be the best available for our customers. As always customer service, our service to you, is our top priority.
Thank you to all who have been reading the Public Record Bulletin throughout the years and we look forward to a continued business relationship offering new, improved, tailored products that fit you and your company’s needs for the twenty-first century.
Linda Toro
Administrative Manager People don’t care how much you know, until they know how much you . . .collect |
