AboutMichelle Dunn Expertise As one of the Top 5 Women in Collections, one of the Top 50 Collection Professionals of 2007, and winner of the 2007 Business Excellence award, I can answer any questions about debt, debt collection, improving business credit, creating a credit policy, enforcing a credit policy and collecting on past due accounts. I can also answer questions in regards to starting a debt collection agency since I have been a bill collector for over 21 years, started and ran my own collection agency for 8 years, and maintain my 11 year old American Credit & Collections Association for members of the credit & debt collection industry. I am also the author of the popular and award winning book "Starting a Collection Agency, how to make money collecting money" now on it's 3rd edition. This book has won a the Writers Digest self published award as well as the 2007 New York Book Festival Award.
I am a repeat contributor to the Wall Street Journal, and have been featured on NPR as well as many other national radio and television programs. I have also been featured in national publications such as the Wall Street Journal, Forbes, Smart Money, MSNBC and much more. I have 12 published books to my name and am an accomplished speaker and consultant. I currently write 9 columns for newspapers, magazines and online portals worldwide.
Experience I have over 21 years experience in debt collection, I started and ran my own collection agency for 8 years and I am the Executive Director of my American Credit & Collections Association that I founded in 1998. www.credit-and-collections.com
Organizations The American Credit & Collections Association LLC, I was also a member of the American Collectors Association and Plymouth Chamber of Commerce for 9 years. I am a member of many writing groups as well as my local Women Inspiring Women chapter. I am a member of Know More Media as an expert for their blog on business credit.
Publications Business NH Magazine, Smart Money Magazine, MSNBC, CNN, Forbes.com, The Wall Street Journal, Home Business Magazine, Entrepreneur Magazine and website, many books, newspapers and television programs as well.
Education/Credentials I have written 12 books in my collecting money series and one for Entrepreneur Press called the Ultimate Credit and Collections Handbook.
Awards and Honors My book Starting a Collection Agency, how to make money collecting money won an award from Writers Digest and the 2007 New York Book Festival in the "How to" category. I have won 2 awards from Dun & Bradstreet and Governor Jean Shaheen. I was nominated as one of the Top 5 Women in Collections in 2007 as well as having been selected as one of Collection Advisor's Top 50 Collection Professionals for 2007.
Question i did sign personal guarantee's for many co. i have since been struggling. i signed about 6 years ago, washington state, all my guarantees state for a credit limit of lets say 4000 dollars. i now owe around 50000 . they are putting a judgement on me and stopping me from working. i have been trying to pay them. can i make a point and any headway with the fact that i signed for 4000 and they shouldn't have given me more. pay them 4000 and call it good. i am not trying to get out of my debt but if i don't come up with something i'll have to file bankruptcy.
please help?
Answer Mike,
You can call the companies and tell them your situation, offer them a settlement payment of the $4,000.00 and let them know that if they do not accept that you may have to file bankruptcy.
There is nothing you can do in regards to going over your credit limit, most companies allow you to go over and then collect an over the limit fee as well as a past due fee or interest charge if you go over. This is how they make most of their money.
If you feel you cannot pay these accounts off and you are really struggling, you may want to consult with a non-profit credit counseling service or an attorney. Good luck!
