Collecting on past-due accounts is difficult enough without making preventable mistakes. Three things business owners and accounts receivable professionals should try to avoid include: Waiting too long In California, the statute of limitations on collecting debts is...
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How you can use social media to secure delinquent debt
Debt collectors possess vast resources when trying to get in touch with consumers who are delinquent in their debts. Even with a significant increase in debtors throughout the pandemic, various paths exist to make contact in an effort to find resolutions to past-due...
How do I start a lawsuit against a debtor?
There are many ways to persuade a debtor to pay you the money they owe. Yet, sometimes the only option remaining is to file a lawsuit. If so, you need to know what this entails. First, it is essential to remember a lawsuit will cost you time and money. While you may...
The rights of creditors to seek payment of debt
Companies are entitled to payment when a California customer fails to pay for something purchased on credit. The process of actually securing payment from an unwilling customer can be complex, and it may be necessary for a creditor to seek the assistance of a debt...
Amicable debt collection and seeking repayment
Businesses have the right to seek payment on unpaid balances from consumers. However, commercial debt collection can be a complex process, and it may be necessary for a creditor to seek payment through more aggressive means. Before taking these steps, however, it is...
Who owes what and when can dictate how to pursue unpaid debts
Collecting past-due payments from commercial clients in California can be frustrating. While there are many different options by which a creditor can seek payment, the right choice depends on the details of the individual situation. When it comes to effective...
Debt collection varies depending on if it is secured or unsecured
Perhaps a California business owner has attempted to receive payment from a customer by sending additional invoices and making calls, but to no avail. It has now reached the point where debt collection efforts need to become more formal. Before embarking on a...
When does filing a lawsuit against a debtor make sense?
As a small business owner, unpaid debts can affect your bottom line. While some of your debtors may make good on their payments, you may have difficulty receiving any repayment whatsoever from others. Before filing a lawsuit against a debtor, however, it’s crucial to...
3 questions to ask when pursuing California debt collection
Wouldn't it be great if everyone paid their debts in full and on time? Unfortunately, wishful thinking gets us nowhere when it comes to keeping a business in the black. What does move us forward is making wise decisions based on the best information available....
Loan contracts for secured debts allow for repossession
Creditors who issue loans in California secured by tangible property largely have the right of repossession if the debtor fails to pay the loan according to the terms of the loan contract. The contract essentially grants the creditor an ownership interest in the...