Unpaid accounts receivable hurt profitability but are an unfortunate reality for many businesses. In-house collection efforts are always the best place to start, and there are tried and true approaches:
- Send past due notices early and often
- Follow up with a friendly phone call
- Keep good records in the file, in particular copies of any
payment checks and bank account numbers
If in-house collection efforts do not yield payment, the early involvement of an experienced collection attorney improves the likelihood of recovery and can reduce overall collection costs.
Our initial demand letter on legal letterhead -- cordial but firm -- lets your delinquent account know that litigation is the next step. It often gets communications started and can lead to a resolution.
If a lawsuit is necessary, we evaluate each case for the best creditor remedies. Can the owners of a corporate debtor be brought into the suit as individuals? Are there assets such as a bank account or real estate that can be tied up at the commencement of the suit? Are there assets in the hands of third parties that can be reached and applied to the debt owed to you? After obtaining a judgment, we employ a wide range of enforcement mechanisms to collect the money owed, including Sheriff attachments, supplementary process and trustee process.
We work closely with our clients to achieve results and bring our years of experience to bear on all matters referred to us. As an example, one of our clients has referred us $1,518,035.66 in delinquent accounts, of which we have collected $959,140.15, and are still actively pursuing $287,725.05 in litigation.
We offer competitive contingent, hourly, or hybrid fee arrangements.
Contact us today: Tom Dillon
TDILLON@SDSLAWYERS.COM
978-368-7500
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