Accounts Receivable Collection Resources
Timely accounts receivable collection is critical to business success. No small business works in a vacuum. Many industries claim to be recessionproof, but ripples from the broader economy are hard to dodge. Take the issue of your accounts receivable: The same amount of debt owed by your customers might seem manageable when the economy is perking along but become a problem when an economic slowdown is cutting into your customers’ incomes and making it hard for them to cough up the cash.
If your cash flow is already slow, the failure to collect money owed can be a big issue. Learning to collect those accounts receivable quickly and efficiently may be the difference between survival and failure.
Internal Accounts Receivable Collection Resources
The solutions to accounts receivable collection often begin internally. Examples include (1) minimizing credit extensions; (2) utilizing proper underwriting and credit management decisions; (3) recognizing that time is of the essence; (4) ensuring that all the pertinent facts are available; and (5) appropriate negotiation usage; and (6) recognizing when it is time to outsource collection processes.
Our Dallas and New York accounts receivable collection attorneys provides a mix of accounts receivable collection resources to assist clients with each of these stages.
Litigation and Dispute Resolution
Richard G. Grant
Often the first stop in the collection process, our litigation and dispute resolution attorneys have the muscle to drive through the litigation process and achieve collections from customers on accounts receivable.
Bankruptcy and Involuntary Bankruptcy Collections
An often overlooked collection method, utilizing the bankruptcy code as a proactive means of collection has distinct advantages often not considered by creditor businesses.