Debt Collection Agent or Debt Write-off?

Debt collection agent or write off a bad debt, which is the way to go? Read on for help in preparing for the decision.

The end of the year is approaching with tax season just around the corner. Your tax professional will soon ask for a list of your accounts receivable. The question will be what you want to do about bad debts. Should you write off a bad debt and take a bad debt reduction? Or, do you send it to a debt collection agent? This will give you an understanding of two common options.  Continue reading “Debt Collection Agent or Debt Write-off?”

Read more...

New York Debt Collection and a Safe Deposit Box

New York debt collection and a safe deposit box, how does one affect the other? Convinced that your customer is hiding stockpiles of cash, stock certificates and the keys to the kingdom in their safe deposit box?  If you bring a New York debt collection case, can you empty your client’s safe deposit box? Continue reading “New York Debt Collection and a Safe Deposit Box”

Read more...

New York Mechanic’s Liens – an Influential Process

New York mechanic’s liens are truly influential. Why is that important to you? New York’s real estate boom has been a tremendous catalyst for growth. And, points of pain may be associated with that growth. For instance, if you’re someone who has extended credit to fund one project or a few or have money out on the street in some other way, you must know how to best protect your rights. For that reason, understanding New York mechanic’s liens and their influence in helping you receive payment is a must. Continue reading “New York Mechanic’s Liens – an Influential Process”

Read more...

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?”

Read more...