Invoices are most collectable in the first thirty (30) days. Maximize the results of your efforts to collect your commercial debt by employing these five great commercial debt collection tips.
Despite best efforts; papering the deal properly, securing an upfront deposit, investigating the customer, etc. not every commercial claim will be collectable There will be a percentage of commercial debt collection claims that will be deemed “uncollectable” and written off to bad debt.
Your customer’s “name” makes all the difference when it comes to getting paid on a commercial debt collection claim. The way your client is “named” on the account affects 1) the success of winning and converting your case into a judgment and 2) Your ultimate ability to seize assets to satisfy
When you decide to pursue litigation against a former client, there is always the possibility that your former client, now the debtor, may respond with a counterclaim. If the debtor chooses to answer the summons and complaint, they will prepare an answer to be filed with the Court. The debtors’
You’ve heard it before: “Do not wait to send your invoices out. “BILL, BILL, BILL!” Granted, sometimes prompt billing is not possible — perhaps a job has not been closed out or a partner has not submitted his time — and an invoice (or two) falls behind. Regardless, you should
Your collection manager gave it their best shot — calls, letters, emails, faxes, an offer to go to debtor’s premises to pick up a check — before referring your non-paying customer out for collection. If the debtor doesn’t respond, or the responsive is not productive, your best option is to
Before placing a claim with our office to pursue commercial debt collection, our client had offered their non-paying customer a discount. The discount of $7,500.00 was offered to induce the non-paying customer to pay. Our client went so far as to hand write a credit of $7,500.00 on the customer’s
The saying goes: jack of all trades, master of none. Why use a general practitioner when you could use a firm whose sole practice is devoted to treating your pain point? This same idea applies in the practice of law, especially when it comes to commercial debt collection.
An attorney agreed to take on your commercial debt collection case. Your corporate attorney, general practitioner, friend or relative took the case as a favor for you. But, you have grown tired of paying hourly to collect an aged receivable, the attorney lost interest in your case, or your case
How do you know if you are recovering all that you can on your commercial debt collection claims? The answer is unless you are collecting 100 cents on every dollar placed plus interest and return of advanced costs you probably do not know. One way to find out if you