Collections are not the kind of business that most companies want to deal with when selling services or product. Unfortunately, some clients or customers over commit themselves They create debts and accounts receivable that need to be paid. When these commitments are not honored in a timely manner, a business cannot afford to ignore them. Collections have to be pursued both to protect the business as well as to make sure an errant customer doesn’t get away with a practical theft of goods or work provided. Read on to learn how to do collections right.
Move Quickly to Collect
A collections lawyer makes a huge difference in how fast and quickly accounts can be closed successfully. The loss of revenue can add up quickly over time; so, the use of a good attorney makes a big difference in ensuring that cash flow is not negatively delayed. Doing otherwise can be costly. Delayed revenue cash flow can result in reliance in more short-term debt which can be expensive with interest charges. It can also cause a business to delay key business decisions that would have allowed a company to grow sooner.
Many problem customers often wait until a serious contact is made regarding an owed account. It’s a delaying tactic often used to help their own cash flow at the expense of the business they took product or services from. By deferring off the expense while gaining needed resources and support, the problem client gains a momentary advantage. The hope is that doing so will eventually create enough cash to pay the bill later. In practice this doesn’t happen. Most often, the problem client continues to dig deeper into more and more debt with different business relationships. That’s not good news for an accounts receivable holder because eventually bankruptcy wipes out any ability to collect whatsoever.
Hire an Aggressive Collections Lawyer
With an aggressive collections attorney in Atlanta, an owed business doesn’t have to wait and wait. It can proactively go after a problem client and often secure payment long before it would happen on the natural. This is how you do collections right. Even when in financial trouble, most problem businesses don’t want the headache of a forced lawsuit if they can avoid one. They will often pay off the account with the strongest likelihood to trigger a seizure at the expense of others still waiting for business courtesy.
While this may not seem equitable to all owed, a business with outstanding accounts receivable from a problem client can’t afford to be altruistic. Winning a collection before others often means avoiding a total loss in an eventual bankruptcy proceeding. Most collection services by attorneys will take their fee from the collections successfully won. If there is no collection, no fee applies. It’s a basic principle that drives effective collection, and those who are regularly successful at the practice honor this principle consistently.
Three Good Reasons to Hire a Collections Attorney
- Problem clients respond much faster to attorneys than basic requests for payment.
- A company needs to be proactive in collections to avoid total loss in a client’s bankruptcy.
- Too many accounts receivable outstanding can negatively damage a company.
Do Collections Right, Contact Howe & Associated Today
Don’t let your business become another statistic of numerous customers but little revenue actually coming in the door. Use an aggressive collections attorney in Atlanta when necessary and ensure your business’ actual success. Contact Howe & Associates to begin the process of collecting your debt today.