Medium-sized and large companies that are having trouble collecting on delinquent debts should act quickly. Time is of the essence – and that means you have no time for collection agencies. Did you know that collection agencies can’t force business debtors to pay?...
Business Debt Collection
My debtor is collecting on his debts. Can I go after that money?
If you have a judgment against a Massachusetts commercial debtor, it may surprise you to learn that the courts don’t unilaterally enforce judgments. You sill have to collect – and you’re not going to do that with letters and phone calls. It’s even more maddening when...
Is your debtor using you as ‘creditor financing’? Stop it now.
When you have a commercial debtor who won’t pay but stays in business, they’re using your money to stay afloat. We called this “creditor financing.” Worse, they may be using your money to buy materials from your competitors. This is a battle for control of the money....
Tired of wasting money on collection agencies for your business debt?
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...
Business leaders take note: 3 tips to better ensure you can collect on debt
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...
What remedies are available if a debtor files for bankruptcy?
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...
How will I know if a debtor is hiding assets?
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...
Why a personal guaranty can make a big difference in collections
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....
Why is it important to act fast in commercial debt collection?
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...
Could my business use a collection attorney?
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...