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collections a new approach

Posted By Frank Thibodeau, Wednesday, August 8, 2018

 A New Very Effective Collections Strategy:

Speak Softly and Carry a Big Stick.

Everyone in leasing does their best to maintain relationships with customers even when they are habitually slow pay.  That said, the reality is that there is still a substantial default rate which means profits are flowing off the bottom-line and overhead added in chasing collections.

The methods are the same; pestering phone calls, demand letters and threatening legal action; none of which have any teeth to get immediate action, i.e. payment.

That scenario can be changed by adding a Big Stick to your collection process.

Imagine the change in the collections conversation after you click your mouse and shut down the leased equipment using a remote controlled device accessed only by you, the leasing company.

Like every utility or wireless provider in the world, you will be paid as a priority from that day forward.

This new tool is specifically allowed by the UCC which states that equipment may be disabled in place.

Draconian?... absolutely, and called for when the “relationship” needs a little help in making those lease obligations the priority they should be.

It’s called Blok Box, created by Lease Security Systems inc. of Lebanon NH.

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