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Teamwork

admin — Wed, 25 Aug 2010 20:43:20 +0000

Teamwork is the ability to work together toward a common vision. The ability to direct individual accomplishments toward organizational objectives. It is the fuel that allows common people to attain uncommon results.

Andrew Carnegie

Cure for your Cashflow Headache

admin — Tue, 17 Aug 2010 20:59:32 +0000

Cashflow headaches keeping you up at night? Enjoy a helping hand from Checknet to relieve your pain.

Get your free Exclusive report!

(Exclusive Report)

Top Cities for Business & Careers

admin — Tue, 11 May 2010 16:53:33 +0000

In the May issue of Utah CEO I found something rather interesting. It says, “The annual list, compiled in conjunction with Moody’s Economy.com, ranked cities on a number of criteria…including job growth…”

The Majority of the cities lie in the Western states. Utah’s ranking showed:

Provo #2
Ogden #11
Salt Lake City #20

Utah has grown so extensively it is great to see our cities in the top 20.

Thought Of The Day

admin — Thu, 29 Apr 2010 15:19:01 +0000

“It is difficult to say what is impossible, for the dream of yesterday is the hope of today and the reality of tomorrow.”

Robert H. Goddard

Define Success?

admin — Wed, 14 Apr 2010 18:01:13 +0000

I was reading the “Collector” magazine and ran across an ad about success. Tony LaMagna states, “…success as prosperity and fame.”

Some of our employees define success as:

“Setting a goal and reaching it. An impressive growth and achievement.” -Molly Flynn

Dan Levie defines success in the home as “happy people, comfortable living.”

“My definition of success is belief in oneself. Knowing that you have all the tools to succeed in what you are attempting and smiling at the end knowing that you tried and failed or tried and succeeded.” – Krista Monahan

We have an opportunity to go wherever we want, do whatever we may; achieve anything we can put our mind to. This all lies in the matter of how will you do this? Success is in your hands.

To Settle or Not to Settle. That is the Question.

admin — Thu, 04 Mar 2010 23:43:10 +0000

A nationally syndicated radio host dedicated to financial security is famous for calling bill collectors scum. He often counsels listeners to offer creditors and collection agencies 25 to 50 cents on the dollar and if they refuse hang up and continue to do that until they agree. The advice is predicated on the idea that the agency and original creditor can afford to waive 50 to 75% of their receivables and still remain in business. The advice is predicated on the idea that the financial hardship of the consumer is transferable to the business. The advice is predicated on the notion that the consumer has the ability to receive goods and services at 100% of the value and because of no fault of the business, pay less than if they had paid in full the day the service was received.

There is a common belief in our society that bill collectors are happy with something as opposed to nothing. This belief amongst consumers creates difficult expectations when they actually end up in collections. This expectation also creates a difficult situation for the original creditor. The belief of the consumer can be transferred to the collection agency and is often translated to the original consumer and there is a pressure to settle an account. Then a entire set of new questions arises, should I settle at all, how much do I settle the account for, or ultimately can I as a business owner afford to receive less than expected.

These questions are best answered by someone with the experience to know when it’s necessary and for how much. In many situations a settlement is a knee jerk reaction to someone in financial difficulty, and trying to recover. In an economy where real unemployment is over 15%, many jump at the idea of settling an account for the individual who is suffering economic hardship. In some situations settling may be the best option but there are many other options that should be addressed first.

• Payments over time
• Temporary reduction in payments
• Renegotiation of interest rates

Yet there are some consumers who have an income and have simply deprioritized the bill in question and are offering a settlement in an effort to save some money. An experienced Collection Professional is the best judge of the situation and can negotiate the best possible outcome. In short, must you as a business owner settle your accounts in order to maintain high recovery rates? Not necessarily, working with seasoned professionals will be the only way to know for sure.

The changing landscape of collections

admin — Wed, 24 Feb 2010 16:24:36 +0000

If you are reading this and thinking that the cell phone in your pocket is the most cutting edge method you have of communicating with the outside world, then you are likely not under the age of 30. Thousands of books and articles have been written on the way communications have changed in the last 10 years, but now, even the speed of change is increasing. It has recently been reported that 40% of customers in the United States do not have a land line phone. However the cell phone is not the revolution, the cell phone was the revolution at the end of the 20th century. A decade into the 21st century the cell phone has become absolutely common. The meteoric rise of text messaging in the last ten years has been yet another shift in communications. However, with the advent of social networking style communication we need to brace ourselves for yet another shift. With the recent introduction of the I-Pad and the more common Net Books we are set for even more changes.

30 year olds are not only communicating differently, they seem to be at an ever increasing risk of becoming delinquent in paying their bills. For example, it has recently been reported by insideARM.com that 30% of 19 to 30 year olds are not covered by health insurance. It seems that for the most part they are not able to afford coverage and coupled with increased difficulty in receiving credit they are likely to end up past due.

How then does a collection agency communicate with an individual with no landline phone, who is extremely transitory, and with real unemployment in this country near 17%? The struggle is obvious and requires a shift in skip tracing procedures, focusing on varying contact strategies, and introducing new technology.

Skip tracing becomes ever more difficult and requires an agency to constantly search for new partners with innovative products. Checknet has recently introduced a product that not only returns relevant data, but also waits for new information and automatically forwards it on. The product allows an agency to constantly search for new information on individuals who are constantly on the move. Getting a number to contact an individual is only half the battle, the other half is monitoring when we attempt to contact an individual and constantly vary that time to ensure contractibility. Finally, this shift requires an agency to explore new technology and yet maintain our adherence to state and federal law. Checknet is constantly striving to remain on the cutting edge of communication tools. Especially as the legal landscape levels out; Checknet will be introducing new and better ways to reach debtors.

Like everything collections is always changing. Remaining at the forefront of cultural changes will allow Checknet to continue to capitalize on those changes and continually serve our customers.

A local family of 12 suffers from an automobile accident. Here is our chance to help.

admin — Thu, 04 Feb 2010 23:36:32 +0000

On September 20, 2009 the Faust family suffered a tragic automobile accident and lost their father Damon. Barbara was critically injured and for 3 weeks she fought for her. She has since returned home and requires continual medical care. The family has no health insurance and Damon had no life insurance. This family of twelve is in great financial need as a result of the accident and loss of Damon and the sole income he provided.

Please join us for an evening filled with activities designed to raise money for the family. No donation is to small.

*Silent Auction & Live Auction
*Raffles & Bak Sale
*informal Dinner & Entertainment
*Activities for Children & Adults

If you are unable to attend you can make a donation to the “Damon Faust Fund” at any Zions Bank.

Your attendance and financial help will make a positive difference in the life of the Faust family.

February 18, 2010
Utah Valley University Events Center
Dinner & Silent Auction 6-7pm
Auction & Entertainment 7pm on

Our hearts go out to all those in Haiti

admin — Thu, 21 Jan 2010 17:01:23 +0000

“Search for the seed of good in every adversity. Master that principle and you will own a precious shield that will guard you well through all the darkest valleys you must traverse. Stars may be seen from the bottom of a deep well, when they cannot be discerned from the mountaintop. So will you learn things in adversity that you would never have discovered without trouble. There is always a seed of good. Find it and prosper.”

Og Mandino

3 Steps to Ending Cash Flow Headaches!

admin — Tue, 12 Jan 2010 22:37:45 +0000

Check out our new 3 step report created to end your cash flow headaches. It gives suggested steps in setting up a comprehensive payment system.
Click on “Report” from the main bar on the home page.