Tips For Dealing With Delinquent Accounts

"best collection lawyer"If you have customers or borrowers who are not making timely payments, it is time to take action!  Below are a few tips for minimizing late payments and developing your own radar for anticipating when an account is headed for collections:

  • Be direct.  It is important to stay calm when dealing with a debtor.  Keep your contact short and specific.  Try to keep your conversations related to the business at hand and do not let them get personal.
  • Do not harass.  Let the debtor know you are serious about being paid, but do not harass them.
  • Create solutions.  If the debtor has genuine financial problems, create a manageable payment schedule, offer a one-time deep discount, or other creative ways for you to get paid.
  • Send demand letters.  It is important to make a written demand for payment, but you should also follow-up the initial demand with a series of letters that increase in intensity.  The letters can also be used as evidence if you file a collection lawsuit.
  • Hire an attorney.  A demand letter from a law firm immediately tells the debtor you are serious about getting paid.  Many debtors will be more cooperative once an attorney is involved.  The possibility of being liable for attorney’s fees in addition to the debt can be a strong motivator.

If you need assistance with collecting delinquent accounts, contact the attorneys at Windtberg & Zdancewicz, PLC.  We have the experience and knowledge it takes to help you get paid!

The attorneys at Windtberg & Zdancewicz, PLC, provide clients with experienced legal representation.  We are experienced in creditor’s rights including garnishments, charging orders, attachment, property execution, trustee’s sales, foreclosures, judgments, judgment collection, domestication of foreign judgments, and creditor’s issues in bankruptcy cases.  If you need assistance, or are interested in learning more, please contact us at (480) 584-5660.

 

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