Customers' Check Records
Before you head for the bank with your checks, head for the copier.
Collecting on past-due accounts can be a nightmare, but you canincrease your chances of getting what's owed you if youphotocopy checks before you deposit them, says Ron Z. Opher, acollection attorney in Philadelphia.
"Many accounts that end up in collection have some pastpayment history," Opher says. "If we have the bank nameand account information, we can dramatically increase recovery[once a judgement has been issued]."
Do you need to copy every check you receive? No, says Opher, justdo it often enough to maintain current information on eachcustomer. "At the outset, you don't know who will pay orwho won't in the long run, so it's always a good idea torecord the bank information at first payment, then review it uponsubsequent payments for any changes."
