Business owners in Massachusetts are likely familiar with the frustrations of trying to collect unpaid debts. At the Law Offices of Alan M. Cohen & Associates LLC, our aggressive and relentless commercial collections attorneys have more than 60 years of combined experience helping Massachusetts business owners collect their unpaid debts. Utilizing the collection tools allowed by law, our lawyers are ethical in their methods and innovative in their debt collection strategies. If you are a business owner in Massachusetts, it is important to understand some of the common pitfalls that can impede the success of your debt collection efforts.
Mistake #1: Failing to act promptly
One of the biggest mistakes is delaying action. Time is of the essence when collecting debts. The longer you wait, the harder it can be to recover what you’re owed. Debtors may dissipate assets or file for bankruptcy, leaving you with little recourse. Act swiftly to maximize your chances of recovery.
Mistake #2: Lack of proper documentation
Proper documentation is essential in debt collection. Businesses often overlook maintaining comprehensive records of all transactions, communications, and agreements. Without this, proving your claim becomes an uphill battle. Ensure all documentation is in order before pursuing collection efforts.
Mistake #3: Ineffective communication
When it comes to collecting debts, communication is key. Many businesses either communicate too aggressively or not assertively enough. Striking the right balance is vital. Excessively aggressive tactics can alienate debtors, while a passive approach may not convey the urgency of the situation. Professional, firm and clear communication is necessary.
Mistake #4: Going it alone
Trying to handle debt collection without professional assistance is a common misstep. The process can be complex and time-consuming, diverting your focus from running your business. This is where we can help. At NAP, our commercial collections lawyers have extensive experience in aggressive, relentless and ethical debt collection. With over 60 years of combined experience, we fight to get you paid and don’t stop until either we have gotten you paid or noone could get you paid!!
Consult our seasoned debt collection attorneys today
Navigating the intricacies of commercial debt collection is no easy task. Hiring an experienced attorney can be the difference between successful recovery and continued frustration. Our team at the NAP knows and understands the intricacies of Massachusetts debt collection laws and can tailor strategies to meet your needs. To schedule a consultation, call us at Law Offices of Alan M. Cohen & Associates LLC or send us a message through our website. We fight to get you paid!