Debt Collection Blog

"Relentless Collection Attorneys"

Alan Cohen

Spend Your Time Making Money. Leave Your Massachusetts Debt Recovery to Us

Are you a small business owner in Massachusetts with limited resources? Do you want to foster growth and improve your market share? Do you offer flexible credit terms to attract new clients? Are you beginning to see your accounts receivables increase as many clients fail to make payments in a timely manner? If yes, then get in touch with The Law Offices of Alan M. Cohen LLC for Massachusetts debt recovery services.

With limited resources and staff, it can be quite difficult for you to focus on your business; and at the same time manage debt collections from clients who either intentionally or unintentionally are not paying back the money that is due to you. In such a situation, our team of experienced debt collection attorneys can help you recover your money quickly and without any stress or frustration.  When you have a debt recovery attorney by your side, you can pay undivided attention to revenue-generating areas that matter most to your business, while the attorney takes care of the collections from debtors by taking appropriate, aggressive and smart legal actions, as and how the situation demands.

It’s true that many startups and small businesses across industries opt for flexible credit terms thinking that it will fuel the growth of their company by attracting more clients. This approach is common and sometimes effective too, but not always. It does attract clients and help grow your customer base, but as business dealings are on credit terms, it increases account receivables and negatively impacts the company’s cash flow especially when the payments from debtors are not received on time.

If debt is not recovered in a timely manner, it can lead to financial losses and over time may result in bankruptcy— eventually business failure and shut down of operations for good. And that is definitely something no startup entrepreneur or SME owner wants.

Therefore to avoid being in such a situation, work with us. Hire our Massachusetts debt recovery attorney to make sure that you recover the money that is yours smoothly. As we focus on collections, you get plenty of time to focus on devising new plans for business growth, and strategies to make profits instead of spending your entire time and resources on connecting with and reaching out to your debtors for payments overdue. Make sense?

How Accrued Account Receivable Impacts Your Business—Understanding the Ripple Effect of Failure to Collect Debt from Debtors and How a Debt Recovery Law Firm Can Help?

Account receivables basically represent the money that is owed to a business in return for services that have been rendered or products that have been delivered. If a business owner is unable to collect cash for accounts receivables, it can have a ripple effect on the cash flow of the company—negatively affecting several areas of accounting such as:

  • Account Payable

Since AR (account receivables) represents the money that your company is owed, it is really your money but it’s just that you can’t touch it. Let’s just say your cash is trapped.

Are your creditors willing to understand that your money is trapped?

Not so much.

When your cash is trapped, it further impacts your company’s ability to pay off your short-term liabilities and current portion. And when account receivable turnover begins to increase, it can put a small business at risk of negative cash flow regardless of the fact that it has earned sufficient revenues to cover its expenses and made profits on paper.

Revenues may look good on paper but if receivables are not turned into cash, it can disrupt your business and leading it to bankruptcy. However, if you leave debt recovery to us, you can help avoid bankruptcy and ensure that the revenues that you’ve generated on paper by selling goods and providing services on credit are rolled into your account as cash.      

  • Aging Accounts Receivables

Increasing number of aging account receivables does not only impact your profits but business performance and productivity as well, especially if you have assigned the task of debt collection to your accounting team. Aging account receivables can increase the workload for collections specialists. A high percentage of receivables that are due can easily distract your limited staff in the accounting department from efficiently performing their daily routine tasks, thereby lowering departmental productivity.

Besides this, aging account receivables can also add to the company’s loss that it takes due to writing off bad debts.

However, with us you don’t have to burden your limited manpower with extra work such as debt recovery.  Hire us for debt collection so that your limited staff can work on the tasks that add value to your business. Allow your accounting team to fully focus on accounts and day to day activities pertaining to it, while our attorneys work strategically on your debt collections, and recover your account receivables systematically.

At the Law Offices of Alan M. Cohen LLC, we believe that time is of great essence when it comes to performing business activities as delays can result in huge losses and failure to tap business growth opportunities. So spend your time on providing superior services to your customers and leave the payment chasing to us—Massachusetts debt collection attorneys who actually focus on collections.

  • Budget Implications

As receivables are viewed as current income earned that will be received in the future, this also impacts the decisions pertaining to budgeting and business investments. Imagine if the budget planners include the cash that they will receive in the future from debtors in their investment portfolio and planning and then fail to receive them, this can negatively impact their business investments, partnerships and new ventures as budgets quickly become underfunded.

But if you hire us for debt collections we’ll take whatever legal steps that are necessary to collect for you as much of your delinquent account as possible thus leaving no money on the table or account collection outstanding. As we are abreast with Massachusetts legal system and have a wealth of experience in collecting debts for clients, our attorneys strategically select strategies and tools to obtain and enforce judgments. We work hard to make sure that your debt is collected from your debtor even if we have to collect the money indirectly by using the Massachusetts Reach and Apply statute to sue a third party that owes money to your debtor.

Furthermore, our team doesn’t wait and hope that the debtor will someday pay your money back. We at the Law Offices of Alan M. Cohen LLC focus on resolving your case faster by filing a suit and getting you to the front of the collections line as quickly as possible.

We have the legal capacity to represent your case in the court, and we don’t shy away from exercising our right in the best interest of our clients.

Contact us today for Debt Recovery Services

The Law Offices of Alan M. Cohen LLC has helped many hundreds of clients with debt recovery problems in Massachusetts. Allow us to help you too. To learn more about our debt collection services or how we can assist you recover your cash, call on (508) 620-6900 or email us at acohen@collections-law.com.

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