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Debt Collection Bluffton SC

This page provides useful content and local businesses that can help with your search for information on Debt Collection. You will find helpful, informative articles about Debt Collection, including "Collect Your Money - On Time!". You will also find local businesses that provide the products or services that you are looking for. Please scroll down to find the local resources in Bluffton, SC that will answer all of your questions about Debt Collection.

Michael Jonas Thomerson
(912) 790-7778
7 East Congress Street, Suite 712, Po Box 8472
Savannah, GA
Specialties
Litigation, Corporate, Debt Collection, Health Care, Bankruptcy, Foreclosure
Education
University of Georgia,University of Alabama
State Licensing
Georgia, South Carolina, Tennessee, West Virginia

Timothy David Roberts
218 W STATE ST
SAVANNAH, GA
Specialties
Litigation, Debt Collection, Personal Injury, Employment
Education
Mercer University - Walter F. George School of Law,University of Georgia, Athens
State Licensing
Georgia

James L. Drake Jr.
7 E CONGRESS ST STE 901
SAVANNAH, GA
Specialties
Bankruptcy, Debt Collection
Education
University of Georgia, Athens,University of West Georgia
State Licensing
Georgia

Ian Douglas McVey
(803) 256-2371
P.O. Box 1390
Columbia, SC
Specialties
Insurance, Litigation, Real Estate, Workers Compensation, Debt Collection, Landlord & Tenant
Education
University of South Carolina School of Law,University of the South,St. John's College, Oxford Univer
State Licensing
South Carolina

Jay G. Anderson
(843) 626-9000
2024 Corporate Centre Dr., Ste 206, P.O. Box 3678
Myrtle Beach, SC
Specialties
Business, Real Estate, Debt Collection, Foreclosure, Family
Education
University of South Carolina School of Law,University of South Carolina
State Licensing
South Carolina

Stephen H. Harris
127 ABERCORN ST STE 200
SAVANNAH, GA
Specialties
General Practice, Litigation, Debt Collection, Foreclosure, Insurance
Education
University of Georgia, Athens,University of Virginia
State Licensing
Georgia

Don Smart
127 ABERCORN ST STE 200
SAVANNAH, GA
Specialties
Litigation, Insurance, Personal Injury, Workers Compensation, Debt Collection
Education
Duke University,Emory University,University of West Georgia
State Licensing
Georgia

Professional Business Support Center, LLC
888-905-0673 ext. 113
500 -504 N Main Street
Marion, SC
 
Christopher Clay Olson
(843) 654-1022
Moultrie Office Park, 501 Bramson Court, Suite 100
Mt. Pleasant, SC
Specialties
Litigation, Debt Collection, Business, Real Estate
Education
University of South Carolina School of Law
State Licensing
South Carolina

Michael H. Sartip
P. O. Box 808
Myrtle Beach, SC
Specialties
Business, Debt Collection, Health Care, Real Estate, Construction
Education
Wake Forest University School of Law,Wake Forest University
State Licensing
North Carolina, South Carolina

Collect Your Money - On Time!


by Mike Burstein

Most SOHO and small business owners don't have the financial resources to wait for their customers to pay them. The inability to collect money in a timely manner is a leading reason for small business failures.

It's easy to fall into the trap of believing that if you don't offer relaxed payment options your customer will go elsewhere with their business. You may lose some business because of a strong financial policy but good customers aren't frightened off by realistic repayment terms.

Creating and enforcing a sound financial policy for your company should not be ignored - the consequences are far too severe! The service or products that you provide will limit some of your options but no business is precluded from collecting their hard earned money in a reasonable time frame.

The following list will help you as you formulate your company's financial policy:

1. Do you clearly explain payment terms to your customers before a transaction is completed?

2. Does your business lend itself to offering a cash discount vs. 30 day billing?

3. Do you accept credit cards?

4. Do you get proper ID with checks, including home and office phone numbers?

5. Do your customers sign a contract for your services?

6. Does your contract clearly state payment terms, including default remedies?

7. Does your credit application clearly state payment terms, including interest rate, late penalties and collection fees?

8. Do you order a credit report on new customers who request a line of credit?

9. Do you give customers credit without having them fill out a credit application?

All of the above items can be used to help build a sound financial policy. The cost of an attorney reviewing your contracts and credit application will be money well spent the first time you are faced with forcing a customer to pay in court.

Most business's wait too long before attempting to collect their money. Unfortunately, this just makes it harder to collect. It is not unreasonable to call your customer immediately when they miss a promised payment. Don't waste time with a customer who continually lies to you and breaks promises to pay.

Once you have determined that you cannot collect your money, engage a professional debt collection agency to handle the debt. Even if you have to pay 25% of the money to the agency, you are better off than holding onto the debt in the forlorn hope that your customer will pay you someday - it just doesn't happen!

An easy way to calculate whether the cost of a professional debt collector will be worthwhile is to use the following formula:

Examples - your customer owes you $1000

1. You hold on to a delinquent account hoping your customer will pay:

You collect $0.00

100% of 0.00 = nothing

2. You turn the debt over to a collection agency after making several calls & sending letters - the agency charges a 25% contingent fee:

The agency collects $1000.00

75% of $1000 = $750.00

Obviously, yo...

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