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3 Effective Ways Small Businesses Can Collect Delinquent Accounts In Massachusetts

For a small business, getting its accounts receivable on time is more than a matter of successfully completing business transactions. It is a matter of survival. Small businesses do not have the luxury of ignoring delinquent payments without making their business suffer. This is why, in the paragraphs below, we talk about the three most practical and successful ways you can start collecting on delinquent accounts in Massachusetts. Additionally, we will tell you what to do in case those tips do not work on your debtor.

Correspond Formally and Frequently

Communication is extremely important when it comes to recovering your delinquent accounts in Massachusetts. When a customer fails to pay, and the account reaches delinquency, send them a letter or an email and communicate the problem in clear language.

If the first attempt does not prompt a reply, follow up after a few weeks and continue the process for no more than 90 days. It is also smart to send all such correspondence via certified mail, return receipts requested, which is a smart way to gather evidence that might come in handy in a lawsuit if you must use that option down the road.

Act Like A Tough Friend

Incidentally, your delinquent customer may not be in a state to pay you back. If you are sure you have a case like that, you can extend an olive branch by making the payment terms easier. If you do offer payment terms, try to see if they will give you any security for the debt such as a mortgage or a UCC.

For more information about why you should not give up on your delinquent accounts, and how to recover them, please click here.

When customers still refuse to pay

If you are dealing with people who still refuse to pay back your monies, you should take it to the next level and seek legal counsel. Not just any legal counsel but the experienced commercial debt recovery attorneys at the Law Offices of Alan M. Cohen LLC where getting you paid is our mission.

You should go to a law firm that has successfully completed numerous commercial debt collection cases with a portfolio that includes litigation experience.

At the Law Offices of Alan M. Cohen, LLC, we have over 35 years of experience helping businesses collect delinquent accounts in Massachusetts through aggressive and ethical legal practices. Our clients in this regard are businesses with delinquent accounts of commercial customers, and over the years we have shaped some effective practices for collecting commercial debts.

The knowledge and experience of a seasoned commercial debt collection lawyer will ascertain you have the best chance of getting repaid for monies you lent or services and/or materials for which you have not yet been paid. For more information about how the experienced collections attorneys at the Law Offices of Alan M. Cohen LLC can collect bad debt for your business in Massachusetts,  click here or call 508 620 6900 or email info@collections-law.com.

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