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
Want to know FFGN’s secret to successful debt collection tips? FFGN returns an average of 65% of every collectable commercial claim placed for collection, results well above the industry norm. Our secret is prompt, effective communication. Keep reading to see what makes our successful debt collection tips so easy to implement.
Everyone is officially back to business, seeking opportunities and trying to close new deals. Focus on collecting your receivables and you will not have to “sell” as much. This is because of bad debt’s multiplier effect on sales.
Collection Attorney or Collection Agency: Which is Best for My Business? Working with a law firm dedicated to collection matters may preserve your relationship with your client while simultaneously receiving compensation for your business.
Remember the old adage, better safe than sorry? When beginning a business relationship with a client how much credit should you extend? How do you know that you will get paid?