Getting Paid in FloridaWhat you can do to help us collect your business debt!

The two partners at Marcadis Singer PA. each have been in the collection business for over 30 years. While Florida is known as a “debtor state” there are some things the client can do to help us help them get better debt collection results.

The best place to start to assure that your business debt is being paid is at the very beginning when the credit is being considered. At the time the credit application is being completed by the customer, the credit grantor must take time to assure that the application is filled out completely and accurately. We see a great number of credit applications where the credit application is incomplete or inaccurate. Do not let the customer get away with providing you with spotty information. When we are preparing suit the credit application is the first thing we look at to determine who our debtor is, where they are located, and the exact name of the debtor. Having accurate information in the application assists us in determining the correct person or entity to sue..

  1. For corporate debts, get a signed guarantee if possible. When the corporate debtor is faced with the possibility of going out of business, they will be more motivated to pay you before other trade creditors without guarantees.. The debtor may refuse and then it becomes you business decision whether to extend credit.
  2. If the debtor business changes hands the client should obtain a new credit application from the new owner. We often receive information from a client to sue the old business when the debtor has been bought out years ago. If you start getting checks in the name of another business rather than the name on the application, check out the reason. The debtor might have a new trade name, has been sold, or worse, the named customer is out of business.
  3. While we are on the subject of checks, please keep a current copy of payments. The is great information that will help us collect on a judgment. This is a simple thing but one of the most important things the client can do to help collect.
  4. Try to know about your customer other than the information on the credit application. Does the customer have inventory? Is there more than one location? How many employees does the customer have? This information may assist us in collecting the claim after the customer has
  5. Keep good records. Invoices , credit applications, statements, and delivery receipts are great but only if they are accurate. If the debtor disputes the statement, make sure you keep the Better yet, many times, before the debt is turned over to collections, the debtor will send an email or letter acknowledging the debt but asking for more time to pay. Keep all correspondence to and from the debtor. This is good evidence for the court to show that any later dispute may be bogus
  6. Don’t wait too long to pursue bad debt.  The sooner the account is placed with us for collection , the more likely it is that the debtor is either out of business or has paid others.  The sooner the debtor is in collections th e greater the likeliood of collection
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