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Nationwide Debt Collection: How to Get You the Money You Deserve
Small business owners know the importance of being able to count on their monthly collections to sustain their business stability. Without regular collections activity, a business cannot remain solvent and can go into t deficit quickly, which jeopardizes the status of the company.
If you are a business owner, what can you do to increase your success rate with collections? Below are five tips you can try if you are having trouble getting money in that is due to you from clients.
Educate your clients about your business structure
Clients may forget to pay their bill. They may not have the money to pay you at the time it arrives. Many other factors might influence the way clients pay their bills and their attitude toward your collection efforts.
Some of them may not understand the importance of getting their payments in on time. You may need to explain to clients upfront that you expect payment immediately after the client receives the delivery of goods or services. Many clients assume businesses have plenty of reserves and that they can wait on payments. But clients need to understand that, if they order services or products, they are legally required to pay for them upon receipt or as agreed by the client and the business owner at the time of the order.
Sometimes all you have to do is to send a friendly reminder that their payment must be received “upon delivery of service” and tell them the amount of time they have to pay the bill. Most businesses can allow a week’s grace period for a good faith measure to keep the client, but at some point, you must ramp up the process. If you do not make collections, you cannot maintain a working business.
What to do when they refuse to pay?
When clients refuse to pay or continue to ignore your notices, you may need to seek help to collect the debt owed to you. You cannot afford to do the work and not collect for the time spent that you could have been doing something else to bring in money.
If you need help and you are in the Boston area, you may want to search for Boston debt collection lawyers to get started. Boston has many debt collection attorneys who can help you assess your situation as a business owner. In most cases, if a collection matter goes to a judge, the only thing the judge wants to know is whether someone truly owes the debt.
Once it is determined that the debt is legitimate, a judgment is made by the judge to order the debt paid immediately. So, if you are a business owner, you do have legal options available to you that will ensure that you get paid for your work.
Of course, you don’t want to resort to these measures if you don’t have to. But sometimes it is necessary.
A good Boston debt collection firm can help you decide when to take a friendly approach and when you should ramp it up to get what is due to you. The general approach that is taken by commercial collection lawyers in Boston is to start small with simple reminders and try to negotiate with the client and assess their financial situation. Then, if this approach does not work, they may have to threaten to garnish wages, file the case with a local court, or other measures.
The job of a collections agency is not to make someone’s life miserable, but to reach out in an empathetic manner at first to see if an arrangement can be made. But, without the law on your side, your business could continue to suffer if you continue to extend your kindness to clients who refuse to pay for what they bought.
Definition of Theft
Sometimes it helps to take a step back and think about what constitutes theft. The informational website defines theft as both taking something they do not have permission to take or taking something without paying. This latter definition would be applied to the refusal to pay a bill if the transaction was a legal one and the client is legally liable for the debt.
The approach of a debt collection lawyer would not be to call up a delinquent client and accuse them of theft. But they will be able to use whatever resources and tools are available to collect your debt for you through legal means.
But I don’t want to sue
We know it’s hard to think about having to file a lawsuit to get the money owed to you. Chances are you will lose your client, and they may say bad things about you to others. It’s a risk you have to take because your business cannot continue losing money to clients who don’t pay their bill.
Also, if you are reaching out to debt collection attorneys, chances are things are already to the point of where you have lost a client due to non-payment. Often when people cannot or do not want to pay, they disappear from your radar entirely. Our job at our legal firm is to use legal means to get the money you deserve so that you can put your business in the positive column.
Massachusetts Collection Attorneys of Boston has been helping businesses like yours get the money they need to stay financially sound while requiring clients to pay their bills. If they cannot afford the standard payment, we can also try to negotiate a settlement for you so that you can get as much money as possible on the debt.
Contact us with your legal and financial collection issues at 844-MASSLAW today! Contact us online using our contact form, and we’ll get back to you as soon as possible.
When you have trouble collecting your debts owed to you, contact us, and we’ll help. We look forward to hearing from you. Getting the money that you need for your business is our primary concern.
After all, it’s your money!