All too often you will find yourself in a precarious situation where one is owed money and can not collect. Of course there are always excuses and more guarantees that you will get paid soon, but that doesn't always happen. Unfortunately, the longer you wait the harder it will be to get the money for the service or goods that have been provided. That is why if you are not able to do this on your own there are a few different ways to go about this.
The first would be to go one up the chain of command to find someone else in charge and try to ask nicely for what is owed. Usually you are already working wth the top though and there is nobody else to inquire about the status of the payment. This is when you should move to the next step.
Instead of throwing words and threats which can damage relationships, it is wise to utilize the services of a third party that can help recover funds. That is why I always choose to use a commercial collections agency like The Collection Law Group to deal with accounts past due. They bring the knowledge and power of lawyers at a price you can afford. This is much better than other collections companies who may not use lawyers and are usually not as effective.
Turning to your personal lawyer can also be effective, but is general not as cost effective as the previously mentioned solution. Companies like that will generally not charge any fees until you receive your money preventing you from going further in the hole. A standard lawyer will generally charge up front fees and hourly rates while they are working on recovering your money. This can put more financial stress on you and your business.
This is why it is generally best to go with a collections agency that utilizes lawyers so you get a no risk solution. It also reduces some of the tension between you and the other party as a third party is brought in to resolve the situation.
Comments(0)