We are taught profit follows risk. We take risks in order to maximize our profits. But in the world of debt collection does profit really follow risk? Take for example a very good friend who is in the furniture business. He’s been selling to the same overseas client for over
A New York Debt Collection case is really a breach of contract case. You and your customer agreed to work together in some capacity and now, you are unpaid. Whether the agreement is in writing or not. You need to make sure that you have the basics of a valid
Consulting clients about how best to insure prompt payment includes incorporating work flow, process, procedures, and controls. Invariably the road always leads back to our #1 tip, bill properly and on time. Mea culpa, not having follow my own advice, this New York Debt Collection attorney can speak from experience describing
close-up difference invoices and bills, document and paperwork Used to demand payment from your customer for goods sold and delivered or services provided, an invoice is the most important document needed to be paid. As a bill for service, an invoice needs to be correct. Incorrect information on the invoice
What happens to old debt? Can you still try to collect it? This question highlights one of the major differences between collecting consumer and commercial debt and one that is on the mind of creditors and NYC Debt Collection Attorneys. Old Consumer Debt Any attempt to collect debt from NYC consumers
Dealing with slow or non-paying customers or clients? Anticipate that you might need to pursue NY debt collection litigation efforts and keep records. What should you keep? All electronic and physical documents relating to the business relationship should be kept in anticipation of debt collection litigation. “Records” include the credit file,
Understanding possible excuses and defenses to delay or avoid payment will work to your advantage. Anticipate and keep the possible “reasons” a client could use not to pay in the forefront of your mind while performing services, recording time, billing, or responding to client’s inquires or concerns about fees. By
Apparel and auto manufacturing led the band in sending jobs overseas. Looking to maximize profit, manufacturers were lured by cheap labor and lower costs. Today’s trend is outsourcing. American companies looking to maximize profits are outsourcing almost every function: Technology, Investments, Logistics and more. Following suit, a consideration of yours
Under the right (or wrong circumstances), a New York judgment entered against you as a result of a vehicle mishap can cause suspension of your driver’s license and/or registration. If your business requires you to have drivers on the road or if you need to drive for work, you can
You have a New York debt collection judgment. Forced to sue, the customer didn’t defend. They ignored the lawsuit. Your New York debt collection judgment includes legal interest and a return of costs. Now that you have the judgment, collection should be relatively straightforward. Your knowledge of the client’s business and