Do you want to know how to have zero delinquencies and no bad debts? It’s simple. Don’t sell your product or service on credit. Require cash in advance.
For example, David tells about one time his mother called to say she wasn’t feeling well. She asked him to take her to the doctor’s office. The doctor examined her and requested she come back the following week. Upon leaving the examining room, his mother went directly to the receptionist to settle her account and make her follow-up appointment. The receptionist told her that it was the policy of the doctor’s office to require payment in full at the time of service, but since she was coming back the following week, she could pay for both visits then. Continue reading