Collecting Money Owed After Hurricane Irma
Hurricane Irma has brought the Florida economy to a halt. Pretty much the only businesses working at the moment are those working to clean up the debris, tree removal companies and restoration services for properties affected by the hurricane. Whether businesses can’t get employees into work, the office is damaged or no one will be wanting to purchase their products, a lot of businesses are stuck in the mud. The strain on small businesses may make it harder for your company to collect money from customers to whom you have extended credit. Hurricane Irma has caused many businesses to board up and close. This will obviously have an economic impact on everyone and may make it more difficult for your customer to make payments that are due because of cash flow issues. Once the storm clears, and things get back to ” business as usual” in Florida, it is important for your business to stay on top of their collection accounts.
Our debt collection law firm is sympathetic to cash flow problems that small businesses and persons may encounter. However, unless you stay on top of collecting money owed to your company, the company’s account receivable may end up on the bottom of the stack of invoices your customer must pay. Our collection attorney will make demand for payment and stress the urgency that your customer make payment arrangements to pay the debt owed to your company. We understand they may be waiting for a payout from their business or house insurance in light of the disaster (click for more info here) and we can discuss an arrangement to work around this. If payment arrangements are not made, our debt collection law firm will recommend that a suit be started to collect the money.
Call Our Debt Collection Law Firm
Once a lawsuit is commenced to collect the money owed to your company, if your customer is serious about paying the past due invoices, a payment schedule can be set up. The payment schedule would be filed with the court. If the customer missed a payment, your company would be able to secure a judgment for the amount owed to your company. Litigation does not always secure payment of money owed to your company. However, once suit is filed your customer should feel the urgency to get the debt owed to your company resolved.
Speak to a Collection Attorney
Call our debt collection law firm and ask to speak to our collection attorney. Together we will devise a collection strategy that is just right for you.