Once again the CONSUMER debt settlement industry has drawn the attention of regulators.
Thankfully, this rule does not apply to our Commercial Debt Settlemment industry. You may click on the below link to view an Associated Press article by Candice Choi for the full story...
New rule cracks down on debt settlement industry
Friday, July 30, 2010
Tuesday, July 13, 2010
Keeping Records
Once you become a professional commercial debt resolution negotiator, you will quickly realize the importance of keeping thorough records.
Start by creating a file for each client as they retain your service. I like to record the primary contact information for my client on the inside cover of the file folder for quick reference. Keep copies of all contracts and other documents for each individual case in this file (multiple cases for one company are common).
You will also want to make notes of each and every conversation relating to a debt settlement. Date, time, name and summary of the conversation can be essential if there is ever a disagreement or failed memory by a party to the case. Always keep a clean legal pad handy for notes.
Additionally, as you work more and more cases, you may find you are dealing with the same commercial creditor and / or the same creditor agent. Keeping track of the past (or best) settlement terms will give you an edge for later negotiations.
Having the ability to review records of your past cases or even just recent communications with clients or agents will allow you to operate efficiently and professionally in a fast paced environment.
Scott F. Soape
Start by creating a file for each client as they retain your service. I like to record the primary contact information for my client on the inside cover of the file folder for quick reference. Keep copies of all contracts and other documents for each individual case in this file (multiple cases for one company are common).
You will also want to make notes of each and every conversation relating to a debt settlement. Date, time, name and summary of the conversation can be essential if there is ever a disagreement or failed memory by a party to the case. Always keep a clean legal pad handy for notes.
Additionally, as you work more and more cases, you may find you are dealing with the same commercial creditor and / or the same creditor agent. Keeping track of the past (or best) settlement terms will give you an edge for later negotiations.
Having the ability to review records of your past cases or even just recent communications with clients or agents will allow you to operate efficiently and professionally in a fast paced environment.
Scott F. Soape
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