http://www.ccascollect.com/ ...................................................... .......However, every effort should be made to resolve a collection matter with the necessity of a lawsuit if at all possible. As set forth initially, lawsuits can be expensive and time-consuming. In addition, the various uncertainties associated with a lawsuit as well as possible problems, such as lack of witnesses and /or documents to support the creditorâ??s case, may diminish the viability of proceeding with suit. It is important to remember that the collection process begins when the account is first established, not when you first perceive slowness in payment. Failure to implement standard procedures initially such as (a) execution of credit applications, (b) document retention (invoices, purchase order, letters, collection notes, etc.), and (c) records of all persons knowledgeable about the account will impede the ability of your collection agency and ultimately your lawyer to obtain the relief to which you are entitled.
Mrei.. Commercial Collection is a different animal than Consumer. The laws are more flexible(regardless of what anyone says). I've had many challenges in collecting from firms and small to midsize Business that i've done Computer work for. B2B lags way behind Consumer. Proof of deliveries, Purchase Orders, Order acknowlegements are key and without accurate documentation and accuracy you're screwed. You have to know the ship-to and bill-to like the back of your hand. Tax and Freight are the backbone. Those suits are more apparent than consumers and are not as easy. Writeoffs are more evident, because business Profit and Loss statements will dictate and you dont wont to carry a bad debt too long without writing it off, but assigning to an outside CA will help, but the chances it getting collected without the aforementioned documentation makes you SOL......
uh..thanks for the info.. So, to collect from a company, you have to provide complete evidence they own you a debt..if you are collecting from an in-DUH-vidual, all you need is a print out? dont get it...
No, it's the same concept. Business you send out an invoice. Your terms could vary from net 30-45. Sometimes i give net 15, only on Good Sound Customers with nice Financial statementss. You can also give a discount on early payment. Only when it becomes collection time that it gets sticky. You need to have a sound BILLING system which the invoice need to be correct, otherwise the company can dispute what you billed them for. The longer you give in terms the longer it takes to collect. You must give an incentive to pay also and know your customer.
