Usually when we say that life has become a circus, it means that things have gotten so out of control that we are struggling to keep a balance. On the other hand, most businesspeople would agree that a busy business is a profitable business. This is generally true, but it is also important to remember that more customers can also mean more accounts receivable. Being able to walk the tightrope of maintaining happy customers while keeping your business profitable is key in making sure your growing business doesn’t devolve into a debt collection circus.
Although it is often good business to extend credit to customers, an unavoidable consequence of credit is late or missing payments. One of the most difficult balancing acts that a business is likely to face is maintaining positive customer relations while being able to reliably collect on customer accounts. Instead of going it alone, an attorney skilled in a variety of collection services can be your greatest ally in navigating the asset recovery terrain. An attorney can:
- Advise you about how to avoid unfair debt collection practices.
- Help you negotiate with customers, working out a payment plan or other debt reorganization strategy to help you recover what you’re owed while maintaining good customer relations.
- Go to court on your behalf and follow through by locating a debtor’s assets and collecting on a court judgment.
Your customers are a vital part of your business, and for the most part they will be happy to pay you on time for your valuable goods and services. However, for the times that your customers do not pay, you should not have to either accept the loss or jump into the lion’s cage on your own to collect. Contact an attorney experienced in collections and asset recovery to find how to get the help you need and avoid the debt collection circus.