Making ends meet is hard enough for any business in today’s economy. It becomes harder when the money you deserve is somewhere other than in your account. That’s money that you need to handle overhead, vendors and payroll. You can’t stay in business when others refuse to pay. Before you put off one of your creditors, call a debt collection lawyer.
Whether you handle it yourself or maintain a billing staff, you already know the amount of time taken up billing customers. Records have to be updated, forms have to be printed and payments have to be entered. Handling a normal bill is bad enough, but, when an account goes into arrears, it becomes a nightmare. How much time do you or your employees devote to each account that requires special attention? It some cases, you may have an employee that is exclusively tasked with collections. In truth, you probably aren’t collecting even half of the money you’re owed, but you also don’t want to devote more time and resources to collections. Keep in mind that when a customer accepted credit, either through simply asking to pay at the end of the month or by making payments, they entered a legal contract. And, so did you. While it’s easy enough to imagine some of the legal penalties your customer faces if they withhold payment, you need to consider that there are state and federal laws that apply to what you may do as a creditor. You should consult a debt collection lawyer to ensure that your actions don’t invalidate your claim or result in you facing legal sanctions. A debt collection lawyer is familiar with laws concerning collections and protects your interest while avoiding litigation. You can’t expect your creditors to wait. And you shouldn’t have to either. A debt collection lawyer can assist you in legally obtaining the fair compensation for products and services that you exchanged in good faith.