Nice adult female entrepreneur, satisfied with the meeting with her customers. 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?
Your credit policies and business practices could be the culprit to rising receivables. As is the case with many businesses nationwide, accounts receivable have increased, negatively impacting the bottom line.
A tactic used by debtors to intimidate the client from pursuing a valid debt is filing a counterclaim. A counterclaim is a claim raised by the debtor against the client in the answer to the summons and complaint. It is not necessary that the claim stem from the same transaction
We’re sure you’ve heard them one time or another but here is our top 10 list of debtor delay tactics. Feel free to add your own gems in our comments section.
Your case is unique. Each case should be handled differently. A “collection” case is based on breach of contract, oral or written, and each contract is unique to the parties involved. The nature of the dispute and the action taken depends upon what had transpired during the transaction as based
A recent change in Court procedures is the implementation of mandatory Electronic Filing in most Supreme Court cases. Effective February 27, 2012, pleadings and papers, including Judgments and payment of requisite filing fees, must be submitted online. A benefit of E-filing is the reduction of time needed to process Court documents.
Should I file a lien? Yes! A lien provides an interest in debtor’s assets. Several types of liens exist, all of which offer creditors additional tools or remedies that may be utilized to force payment. Security interests may be obtained before, during and after the transaction and vary depending upon
GPS Rule (Section 20-104 (a) of the New York City Administrative Code) for process servers went into effect on November 12, 2011.
In order to help prevent identity fraud, businesses that provide goods and services on credit to the public are required to create Red Flag Rules. Red Flag Rules are a set of guidelines formulated to identify possible risks to customer information and to create guidelines and business practices to deal
Take Affirmative Action As a business leader much of your time is occupied by attracting new clients and building relationships.