Protecting Your Business
Collecting Accounts Receivable and Business Debts
Policies and Procedures to Improve Collections
Drafting a clear collection policy to cover contracts, customers, credit applications and billing will make your business more efficient in collection accounts and money due.
Thorough credit applications to obtain information on all relevant customer data will assist in collections. Proper language in the application will dictate the rights of your company to collect interest, enforce late fees and provide for possible attorney's fees.
Full Payment Checks
In the event that a customer pays an account with "payment in full" written on the back of the check, but has not paid the total amount due, you should contact your lawyer before depositing such a check. Your rights to the remainder of the outstanding account could be jeopardized if the situation is not handled properly.
Our office can assist you in these and other aspects of collecting accounts for your business.