The relationship is profitable and your customer wants to continue to buy from you. You would like to continue the relationship but the account is paying a bit too slow for your liking. How can you continue to do business with the slow paying customer and protect your business if
Hats off to my daughters’ dentist’s office. When we are finished, Sheri at the front desk asks if I would like to pay by Amex or Visa as she is scheduling the next appointment. One time, I asked to pay 1/3 on the spot and the balance over the next
One of the hardest things to swallow when getting paid from a non-paying client that you collect from is the reality that usually you have to pay the legal fees to actually collect your money. When is it most likely your delinquent customer will pay the legal fees?
One of the hardest things to swallow when getting paid from a non-paying client that you collect from is the reality that usually you have to pay the legal fees to actually collect your money. When is it most likely your delinquent customer will pay the legal fees?
When a client owes you money your feelings may actually make it less likely you will get paid. Many of us don’t realize how much our feelings impact our choices. Rationally you know you will not be repaid on an account; yet, continue to hold onto that account for reasons that are not
Prepare your business for any contingency. The best client relationship can turn sour at a moment’s notice, at which point you will need to be able to rely on your corporate records. Many collection cases are lost simply because clients fail to name and bill the correct corporate entity. In
Year end is fast approaching. It is imperative that you take a realistic look at your receivables. If you want to take advantage of write-offs for monies not realized, you must act now.
The aftermath of Sandy has left business owners experiencing the storm’s impact: stalled cash flow, anticipated future increase of sales and questions as to how best navigate the short term. Three suggestions or policies to implement immediately are:
When a debt is owed, there is a fixed time limit, a statute of limitations, to file a lawsuit or an appeal. The length of time to bring the suit varies and is dependent on the type of case. For example, in New York State, most breach of contract cases
When a debt is owed, there is a fixed time limit, a statute of limitations, to file a lawsuit or an appeal. The length of time to bring the suit varies and is dependent on the type of case. For example, in New York State, most breach of contract cases