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Taboo: collections

20 years 3 months ago #80817 by melloweer
Replied by melloweer on topic RE: Taboo: collections
When we did our brochure sale out of 400 kids participating we only had maybe 20 kids not turn in money. Before we send anything home we make clear when the money is do. If the check bounces we let them know they also have to pay a fee. And we forwarn them if they do not pay the amt of money when due we make 2 phones calls and 1 certified letter (now if its 10 bucks or under we don't bother)if those do not produce action then they are turned into a collection agency. We can't do this with all fundraisers but with our brochure sale being our largest fundraiser we make sure the company we use has a collection agency to handle non payments.
20 years 3 months ago #80816 by nonsequitur
I am curious about how often people have problems getting all their money. Someone in our school just did a candy bar sale. She told me in private how much money was still outstanding, but no one else will acknowledge it. Instead they talk about how many cases were sent out. I wonder how much the missing money has eaten into her group's profits.
Having some knowledge of credit collections, I would not be surprized to hear 10-25% of actual profits is lost in every fundraiser to missing money and bounced checks. What is the actual average experience?
Feel free to rant. [img]smile.gif[/img]
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