Posted by Jon Richards on December 15, 2000 at 22:47:57:
We collect on 75 notes each month, using John Moren’s NoteSmith program, which is terrific. But if you are not around to deposit the check and your spouse, family or a friend are not trustworthy, here are a few ideas:
- Get a credit card number and deduct from their CC. The cost is about 3% per month.
- Give them a bonus to send you post dated checks for one year. Perhaps a dollar off each month.
- Can’t you have them deposit the checks directly by sending them deposit slips and prepaid postage?
- You can get permission to deduct the amount from their checking account each month. Just ask for a cancelled check and permission to deduct.
- Get hooked up with Wells-Fargo or a related bank that allows your payor to do a direct deposit.
The technology is so advanced now, I can imagine it to be a large problem. I would be interested in hearing other ideas.
Jon Richards, NoteWorthy Newsletter