Does Bad Debt Necessitate a Larger Sales Team?

Drawing of a team layout on a table.Bad debt costs money.  But do you know how much? Not getting paid has cost you the anticipated profit, maybe some or all the cost involved in servicing the client, and maybe more. Projections did not account for the increased amount of the bad debt. Assuming you can recover some of the bad debt with the help of a qualified collection attorney, you will need to increase your sales team to make up the rest. Continue reading “Does Bad Debt Necessitate a Larger Sales Team?”

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Collection Tips: Emailing Invoices for Quicker Payment

Emailing invoices for quicker payment is the wave of the future. Have you received a request from your client to email invoices to them or a third-party vendor? If you haven’t, get ready – you will. Before long, mail or fax will no longer be acceptable. Given that, emailing invoices to customers will be the standard.

Here are debt collection tips to help you successfully collect by emailing invoices for quicker payment. Continue reading “Collection Tips: Emailing Invoices for Quicker Payment”

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Debt Collection NY/NJ: More Than a River Apart

Close-up image of the Statue of LibertyNew Jersey and New York can be – with no traffic – a mere 5 minutes apart via the George Washington Bridge. It’s about the same through the Lincoln or Holland Tunnel. Aside from their closeness as Hudson River neighbors, New York and New Jersey are far apart on their approach to debt collection.

Many companies dealing with customers in the Tri-state area might not realize the differences between these two states and how it will affect their debt collection efforts. In light of that, let’s look at a few examples. Continue reading “Debt Collection NY/NJ: More Than a River Apart”

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How Long Can a Customer Avoid Payment?

Man holding money in his hand.Getting paid can sometimes take longer than expected. But, how long? That depends on whether your client has a deep pocket. And also how long they want to stretch out and avoid payment.

Consider this: A contingency fee is the most common way to handle claims. When there appears to be a possibility of collection, your collection attorney will continue to work on the case until you receive payment.

The same does not hold true for your nonpaying customer. Unless your client is an attorney and will self-represent or has a friend who is a lawyer or one on staff, the corporation you sue for nonpayment must hire counsel to represent them. They cannot represent themselves.

The non-paying customer will have to pay for representation.

Continue reading “How Long Can a Customer Avoid Payment?”

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