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If you’ve already contacted your delinquent debtor to persuade them to pay but they won’t, you don’t need a collection agency. All a collection agency can do for you is contact the debtor over and over until something happens. That’s no way to get paid. At the Law...
The adage about an ounce of prevention being worth a pound of cure holds true in the business world — especially when it comes to debt collection. Having an unpaid bill is more than just frustrating, it hurts business. It takes time and effort to collect the debt that...
Creditors who are notified a debtor filed for protection through bankruptcy are right to find themselves frustrated. Bankruptcy causes a hurdle towards getting payment — but there are situations when creditors can jump that hurdle and still get some or all of their...
Finding the assets that belong to a client who owes you money is a lot like peeling an onion. It is important to go layer by layer to make sure you do not miss any potential assets. You do not have to go through this process on your own. You can seek the counsel of...
As a business owner, you probably already know the importance of a strong contract. This holds true whenever you provide your services or products to your commercial customers on credit. The terms of that contract become very important if your customer fails to pay....
Many business owners face uncertainty when it comes to collecting an overdue debt. They are not sure what steps to take first, how long to wait for a response and when to take a more aggressive approach. Often, people wait too long to pursue their debt, leaving them...
Many businesses struggle with getting paid for their product or their work from individuals and other businesses. Perhaps your own business is trying to struggle through collecting overdue payments and you are wondering if there is something more you can do. You have...
As a creditor, the last thing you want to hear is that one of your debtor businesses may be filing for bankruptcy. Realistically, you know that you may not be able to collect as much money as you had hoped, and their actions could limit your recovery significantly....
There is no question that a bankruptcy filing can frustrate your attempt to collect on a debt from another business in Massachusetts. You should not give up, though. You may still receive some payment through bankruptcy, even if you cannot collect on the entire amount...
You’ve won your case in court, and your debtor needs to make the necessary payments to resolve the outstanding debt. In theory, it should be as simple as collecting the monies owed to you and being on your way. But it rarely is that easy. Very often your initial...