Put Your Business Debtor’s Proceeds Directly In Your Pocket
Installing A Keeper: An Effective Way To Force Payment
If your debtor is a business, a “keeper” can be installed. A keeper is a sheriff positioned in the business to collect payment. Instead of paying your debtor, customers or clients pay the keeper, who turns the money over to you.
This strategy is commonly used against restaurant debtors or other debtor businesses that regularly are paid in cash from their customers. Instead of paying the restaurant for the cost of their meals, customers pay the keeper.
The keeper stays at the business, collecting money, until the debt is paid in full. The sheriff also has the power to sell the business’ inventory to repay the debt.
The best part? Your debtor pays the keeper’s fees. The costs of installing a keeper are added to the debt.
Having a sheriff at the business, collecting payment from customers, is not only effective — it’s embarrassing for your debtor. Many business debtors who claimed they couldn’t pay are suddenly able to come up with money just to get the keeper off their premises.
Get The Money You Are Owed Now
Trying to collect money can be frustrating. Don’t waste your time chasing debtors. Contact Joshua P. Friedman & Associates, Inc. online or call 310-278-8600. Located in Los Angeles, our firm represents consumer and commercial creditors throughout the state.