Bender Commercial Collection Law
New Jersey Business Collections Attorney
While demand letters that threaten suit are common in business debt collections, they don’t often work. This article will discuss why demand letters are usually ineffective, and why diplomacy and litigation are your best tools for getting paid.
In most cases, there are 3 basic reasons a customer doesn’t pay: either it can’t pay, it doesn’t want to, or it has a genuine dispute. How you deal with nonpayment should depend on the reason. This article will discuss a practical approach to collecting unpaid invoices in each situation.
When it comes to collecting past-due invoices, unlike fine wine, unpaid invoices age like milk. The longer they sit, the more likely they are to spoil. Early detection and action are therefore the key to getting paid. This article will discuss the need to move quickly when collecting past-due invoices.
If you sell on credit, at some point you’re likely to have accounts receivable collections issues. Fortunately, you can develop internal policies for detecting problem accounts early and collecting them with or without litigation. This article will discuss several useful policies for collecting accounts receivable.
To make sure you get paid, your credit policies should appeal to the customer’s self-interest. Offering discounts and charging penalties can serve as the carrot and stick. This article will discuss how to avoid debt collection for unpaid invoices by motivating your customers to pay.