Running a small business isn’t easy when you’re working with limited resources. There’s always the challenge of competing with bigger businesses while offering quality services and products. To keep your business processes robust and functional, you need timely payment of services rendered and products sold. Yet, it isn’t uncommon for clients to default on their debt, all of which gives entrepreneurs anxiety due to unpaid invoices.
A commercial collection attorney in Florida can prove to be a lifesaver when the going gets tough. They will collect payment owed to you from businesses with past due accounts. You can start the process of commercial collection as soon as you recognize the signs that your client is unwilling to pay what they owe.
An experienced commercial collection attorney in Florida can create an action plan that you and your sales team can stick to in order to maximize your chances of getting paid. Experts recommend creating a collection timeline, for example, at 15 days past due, your business should issue a reminder letter about past due invoices.
At 30 days past due, you should consider sending out a second demand letter along with a follow up call. Between 44 and 45 days past due, the account should be closed. After two months are gone, you should make the final call to collect. If this still doesn’t work, you should turn over the account to a commercial collections attorney in Florida.
Keep all the Documentation Ready
It is possible for the client to dispute the debt as they ask you to bring proof. Although your commercial collection attorney can help you with debt verification, you would do well to keep a record of all written documentation that describes the services rendered, past due amount, and records that show when the last payment was made. It is worth noting that you shouldn’t send your original files and only copies of all the important documents. You can scan the copy and send it through email if the client agrees to this arrangement.
Is there an Alternative to a Commercial Collection Attorney?
Getting a commercial attorney to collect the payment on your behalf could be damaging to the client relationship you’ve worked so hard to build. This is why we recommend finding alternative ways to collect the debt. You can do this through phone calls and demand letters. If you’ve exhausted these methods, consider turning the account over to your commercial attorney in Florida.
Another option is to get the debt completely off your back and transferring ownership of it to a commercial collection agency. You may not recover all of the amount that is owed to you, but it is a fast way to lose an account. Finally, you can also pursue this method in court. A qualified commercial collections attorney in Florida can help you through the legal process.