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XxJamesAxX
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After being burned majorly twice in the last few months with big accounts running up a balance and not paying we are making the switch to credit cards only for all new accounts and any account that doesn't have a solid track record of paying there bill on time with us.
We are gonna require the card to be on file and each case to be charged at time of shipment. If they don't like that they can send it somewhere else I'm absolutely tired of dealing with past due balances.
I've read John Wilson's post on this many times and it's time for us to listen.
The reason for our switch and my rant is to bring awareness and hopefully others will make the switch before getting burned as we have.
1st burning. Account had actually been with us for several years and was always a late payer. Constantly requiring phone calls to get money. Well long story short he finally quit communicating with us and it turns out he is filing bankruptcy and retiring. Quit paying several different labs and suppliers in his last few months and Pocketing the money then filing bankruptcy on the debt. $8500 burning for us.
2nd burning - we get a call from a new account in Florida. They have 6 offices and are upfront they do lots of work. First month they collectively send $8700 worth of work. After a couple weeks into month 2 when we start trying to collect the money for month 1 they quit sending work and quit communicating with us. We are still trying to work on this collection but haven't got a penny of our almost 10 grand they owe us.
It's hard enough trying to be successful in this field without these kind or setbacks guys. We've been very lucky over our almost 10 years of being open but these two burning hurt very bad. This is money that could of been reinvested in our business and employees in many ways.
Something for everyone to think about.
Sent from my iPhone using Tapatalk
We are gonna require the card to be on file and each case to be charged at time of shipment. If they don't like that they can send it somewhere else I'm absolutely tired of dealing with past due balances.
I've read John Wilson's post on this many times and it's time for us to listen.
The reason for our switch and my rant is to bring awareness and hopefully others will make the switch before getting burned as we have.
1st burning. Account had actually been with us for several years and was always a late payer. Constantly requiring phone calls to get money. Well long story short he finally quit communicating with us and it turns out he is filing bankruptcy and retiring. Quit paying several different labs and suppliers in his last few months and Pocketing the money then filing bankruptcy on the debt. $8500 burning for us.
2nd burning - we get a call from a new account in Florida. They have 6 offices and are upfront they do lots of work. First month they collectively send $8700 worth of work. After a couple weeks into month 2 when we start trying to collect the money for month 1 they quit sending work and quit communicating with us. We are still trying to work on this collection but haven't got a penny of our almost 10 grand they owe us.
It's hard enough trying to be successful in this field without these kind or setbacks guys. We've been very lucky over our almost 10 years of being open but these two burning hurt very bad. This is money that could of been reinvested in our business and employees in many ways.
Something for everyone to think about.
Sent from my iPhone using Tapatalk