Advising your customers that they are in default is separate and apart from notifying customers that they are being sent to collections. There are some contracts that require a party to give the other party written notice of “default,” of non-payment. Failing to provide the requisite notice is considered a failure to meet
End of year tax planning must include a review of your accounts receivable to determine the impact on income for the calendar year. A realistic assessment needs to be made upon the likelihood of collecting the receivable and its impact on income.
Debt collection attorney, Jocelyn Nager, is the Managing Partner of Frank, Frank, Goldstein & Nager, P.C., a thriving law firm devoted exclusively to commercial litigation and debt collection. She actively works at juggling her work and home life.
It’s December 2nd, year end is a mere 29 days away. Would offering a discount to customers who have failed to pay accelerate payment before year end? Your New York City debt collection attorney agrees that the answer is probably yes. For customers who intend to pay, offering an incentive,
The expectation is that you should be paid as agreed to in the terms. Since that’s not always the case there are steps you can take to stack the odds in your favor. Today’s debt collection tip is one that we suggest many of our clients incorporate in their collection
When we don’t like to do something, putting it off only makes it worse. The anticipation of tackling that task allows it to grow into a seemingly larger job. The same holds true for making collection calls. Jocelyn is a frequent speaker at seminars for business owners. A recurring theme
When asked to define “credit success” what comes to mind? Does your definition include accounts receivable? Ours does. We believe credit success is twofold; a business’ ability to obtain credit and its ability to extend credit to customers. The formula for success for both components is based upon a successful ability
Having a clear sense of your customer’s financials will help you determine if you should sell on terms. Since you are in essence acting as a lender, you must consider several factors when deciding whether to extend credit. Frank, Frank, Goldstein & Nager, P.C., your New York collection attorneys, believe
It happens, even to your New York debt collection attorney. A customer promises payment but fails to pay. When confronted, an excuse is made followed by another promise of payment. Often the second promise of payment leads to a third, fourth or fifth broken promise. The customer may assert that