Collecting the money owed to your company in 2020 has become challenging. There are many businesses that your company has done business with, struggling to survive for legitimate cash flow reasons caused by Covid-19. However, there are other companies that are using Covid-19 as an excuse not to pay their invoices. The Gebeloff Law Group concentrates its practice on helping creditors collect money on their past due account receivable. Our Collection Lawyer and trained debt collection staff are happy to work with your company to devise a debt collection strategy custom tailored to your company’s debt collection needs.
We Identify the Reason for Non-Payment
When our collection attorney contacts your customer, we can ascertain whether the reason for non-payment are legitimate or an attempt to avoid paying your company. Business debtors are often accomplished at evasive tactics. Our debt collection law firm knows that there are many debtors who are making payments at a slow pace, and not thinking about paying you interest. Our collection attorney will make it clear that an amicable payment arrangement needs to be made. Without a concrete promise for payment, our debt collection law firm recognizes that your company most likely will continue to be dragged out and paid when the debtor wants to pay, if ever. Today companies are not afraid to play the corporate shell game. They close their business and open under another corporate name. A blatant attempt to avoid paying your company’s receivable.
Call to Speak With our Debt Collection Staff
When you call our Debt collection law firm, you will speak to our staff who are trained to guide your company through the debt collection process. We often take calls from other law firms who have obtained Judgments for their clients but turn to us to devise an effect post judgment debt collection strategy. Please feel free to call our law firm and ask how together we can devise a debt collection strategy right for your company.
Collection Attorneys Can Guide Your Company and Collect Your Money
As the economy is slowly opening back up, it is very clear that the two month nationwide shut down has drastically affected the financial condition of many businesses. Our Florida debt collection law firm has seen a dramatic increase in the number of calls from businesses looking for help collecting their past due accounts. Our collection attorney helps guide companies who have not been paid for the services they have rendered or for products they have shipped and invoiced. Our collection lawyer will on a case by case basis review your company’s debt collection matter and customize a strategy to help your company collect its money.
Debt Collection Law Firm – Covid-19
Although the economy has taken a hit, cash flow will once again begin to pick up for businesses. Our collection attorney recognizes that there will be those companies that will use the pandemic as a lingering excuse for non-payment. However, our collection lawyer will quickly recognize when the covid-19 excuse for non-payment, is just that – an excuse. While there will be some legitimate reasons for the delay in paying what is owed, our debt collection law firm believes that every business should be making good faith efforts to begin paying down their past due accounts. When our collection lawyer gets the runaround, our collection law firm recommends to our clients that they consider filing a lawsuit to give your customer a little more urgency to pay your company what is owed.
Call our Collection Attorney to Discuss a Debt Collection Strategy
A debt collection lawsuit will make paying your past due invoices a priority. Our collection attorney knows that the added pressure of a lawsuit will motivate your customer to begin paying your company more expeditiously, then your customer simply receiving a letter demanding payment. If no affirmative action is taken, our collection lawyer will proceed to enter default judgment from the amount of money your company is owed. Once judgment is entered, there are a myriad of debt collection options that our collection attorney will be able to discuss with you.
Thanksgiving means a lot of different things to different people. However, for a small business it may be time to start looking at different areas of the business that may need adjustments to better help with the overall cash flow of the business. Collecting on past due account receivables and/or setting up credit and collection procedures for your company may be one of those areas that with paying closer attention to collecting past due accounts, might make a difference.
Collection Law Firm to Collect Past Due Accounts
Commercial Collection Agency
Our debt collection law firm offers small businesses a variety of options to consider. Commercial collection agencies are one way, but our collection attorney has discussed in past blogs the difference between a collection agency to collect past due accounts and a collection lawyer in a debt recovery law firm to collect your company’s past due account receivable.
Our Collection Attorneys Can Help Collect Past Due Account Receivable
Our firm has recently added a flat fee commercial demand letter for payment of debt. Our clients were asking us for examples or templates of collection letters but, most found that a debt collection letter coming from a collection attorney was more effective than the company simply sending a letter demanding payment. A company should send a demand letter for payment first, but after time passes it will become apparent when a company is simply stalling or cannot pay on the past due account. If your company is interested in exploring our debt collection law firm’s flat fee letter to collect on past due accounts, feel free to visit our website.
Of course, or debt collection firm offers the same traditional collection agency services – letters and phone calls, but unlike a commercial collection agency, our commercial collection lawyers will be able to bring suit to attempt collection of your company’s past due account receivable when warranted.
Even though companies are getting smarter about extending credit for goods sold and/or services rendered, there are still instances when unexpectedly your company is owed money on past due accounts. Internal debt collection procedures should be in place for your company from the outset, again past due accounts are part of the risk of doing business. If you do not extend some credit, sometimes demanding upfront payment on account may lead potential customers to other service providers and/or companies to get product. We have put out a free guide to help your company set up debt collection procedures.
Past blog posts have addressed the major differences between commercial collection agencies, collection law firms and debt collection attorneys. A collection agency does serve a purpose in some instances when your company may have a high volume of collection accounts with small balances where repeated debt collection calls may be all that is needed to collect your company’s money. However, collection agencies are not licensed to practice law. A commercial debt collection law firm gives creditors a stronger approach to attempting to recover the company’s past due account receivable.
Collection Agency of Collection Attorney Letter Demanding Payment
Our debt collection law firm has set up a new attorney demand letter service. For a flat fee our collection lawyer will draft a letter demanding payment of your company’s past due account. Putting the power of an attorney behind your demand for payment will let your customer know your company is serious about pursuing collection of the account. If the demand letter fro payment does not result in your company receiving payment, our collection law firm can tailor a more traditional debt collection strategy which may include litigation to attempt to recover your money.
Call Our Debt Collection Law Firm
When you call our debt collection law firm one of our collection attorneys will speak to you about your company’s collection policies and procedures. Together we will work on a debt collection strategy that is right of your company, whether simply a letter demanding payment or starting a lawsuit to collect on the past due account receivable.
For most small businesses, having to engage in collecting past due accounts becomes frustrating. For small business owners cash flow is crucial to keeping the lights on and the business up and running. Having to take the time and resources to attempt to collect past due accounts internally takes away from the time the business should be focusing on their core business. There are commercial collection agencies to consider. But, perhaps a better alternative is utilizing debt collection law firms who focus their practice on representing business that are owed money. We have talked in past blogs about the limitations of using a collection agency to collect your company’s money.
Collection Agencies Are Not Licensed to Practice Debt Collection Law
A collection agency cannot hold themselves out as a debt collection law firm nor can they legally practice debt collection law. Collection agencies send a series of collection letters and then attempt to collect past due accounts by making debt collection telephone calls demanding payment. Collection agencies also typically will charge a contingent collection fee between 25% to 40%. If a lawsuit is required to sue a debtor for your money, the agencies typically will raise the contingent fee even higher.
Debt Recovery Law Firm
Alternative to Collection Agencies
Our commercial debt collection law firm has designed a new program to offer credit managers and small business owners an alternative to paying a collection agency high contingent collection fees. We have established www.AttorneyDemandLetters.com . With this unique debt collection service, a flat fee is offered. We will send out an attorney demand letter for payment of your money and also offer an option for attorney demand telephone calls. The concept is to “Put the Power of an Attorney Behind Your Demand for Payment.” It is clear that when your customer sees demand for payment coming from a debt collection law firm rather than a collection agency, your customer will now that their time to contact your company to make payment arrangements is running short.
Please visit our website for further information on how you can use the power of a debt collection attorney to help you recover your money. We will show you why it may no longer be necessary to consider using commercial collection agencies to collect past due accounts.
Senior Debt Collector Joins The Gebeloff Law Group
A Commercial Collection Law Firm
The Gebeloff Law Group has added a Senior Debt Collector to its staff. The addition of the debt collector will assist Mr. Gebeloff in securing prelitigation payments from debtors. The philosophy of The Gebeloff Law Group is to provide its clients commercial debt collection services in an effective and cost efficient manner. If voluntary payment is not obtained prior to litigation, the debt collector will help gather valuable information about the debtor, including, but not limited to, the nature of the dispute, assets the debtor may or may not have and/ or if the debtor’s officers may have set up other entities in an effort to defraud creditors.
Collection Attorney Stephen B. Gebeloff
We have discussed in prior blogs the difference between our commercial debt collection law firm and commercial collection agencies. Collection agencies also use debt collectors but, too many times debt collectors are limited in their effectiveness as they are constrained. Collection agencies are not licensed to practice law. A commercial collection agency must eventually send your debt collection case to a collection attorney if the collection agency is unable to collect on your company’s past due account receivable. The collection agency then will charge the creditor a higher contingent collection rate.
Our debt collector will also work on post judgment collections. Too many times after a judgment is obtained, not enough pressure is brought upon a debtor to make payments to satisfy the judgment. Commercial collection agencies cannot bring proceedings supplementary to implead third parties and/or pursue third parties for fraudulent transfers. We are optimistic that the addition of our Senior Debt Collector to our staff will increase the percentage of the recovery of bad debt our clients send to our commercial collection law firm.
Please feel free to call our debt collection law firm and ask to speak to one our experienced debt collection staff. We would be happy to discuss the differences between using a collection agency, collection agencies and/or using a collection attorney with a commercial collection law firm to collect your pre-judgment or post judgment debt.
Collection Agencies Refer Their Debt Collection Files from Their Collection Agency to Our Debt Collection Law Firm
We have been discussing the differences between a debt collection law firm and commercial collection agency in several past articles on our debt collection blog. The first thing that our collection law firm emphasizes to our clients who seek our counsel in how to collect on past due collection accounts is that collection agencies are not licensed to practice law.
Collection agencies are limited in the means and methods available to the collection agency in attempting to recover past due accounts.
A typical collection agency will send out a series of collection letters and then make repeated phone calls. In these tough economic times, that usually is not enough. Most businesses today have very tight cash flow and phone calls and letters from a collection agency may not give the debtor enough incentive to make payments to your company first.
Florida Collection Attorney Gebeloff
When you engage a debt collection law firm instead of utilizing commercial collection agencies, you know put the power of the imminent threat of legal action behind your demand for payment on the past due account. It is true that the cash flow of a business presented to a collection agency when they are attempting to collect a debt will be the same as presented to the debt collection law firm but, once a debtor is served with a summons and complaint from a collection attorney, the timetables for payment change.
Contact Us Today
In our next blog post we will discuss what some of the scenarios your company may expect from a debtor after being served with a debt collection lawsuit. A debt collection lawyer backed by a commercial debt collection law firm can provide several different debt collection strategies for your company to consider. We will make clear why using a commercial debt collection law firm over a commercial collection agency may be the better alternative for your company when implementing a debt collection strategy.
When you are busy running your small business, worrying about collecting on past due accounts is the last thing you want. Cash flow is vital to the success of any small business. Having an effective plan in place on how to manage your account receivables is vital. The Gebeloff Law Group will soon be releasing a free e-book to assist credit managers and small business owners implement a plan to better manage their accounts. The book will be titled “Collecting Account Receivables – Don’t Let Your Company’s Money Burn.”
Gebeloff E-Book will assist your company collect more of its outstanding debt
When in house collection methods are not working, there are choices to be made. Debt can simply be written off or the debt can be sent to a commercial collection agency or a commercial debt collection law firm. In the e-book collection attorney Stephen Gebeloff will discuss the difference between collection agencies and collection attorneys. Sometimes sending your accounts to a collection agency may make sense but, after reading the book on debt collection procedures and strategies, you may come to recognize that utilizing a full service commercial collection law firm may prove more cost effective and lead to a higher percentage of your delinquent debt accounts being recovered.
The Gebeloff Law Group is a full service debt collection firm. Our collection lawyers would be happy to discuss your company’s internal debt collection procedures. Being proactive is very important in maximizing your company’s recovery of past due accounts. Not every account is collectable but, by discussing your company’s debt collection needs, our collection lawyers can effectively work with you to explore different collection strategies that may lead to the recovery of your company’s money.