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Debt Collection Bridgeport CT

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 Bridgeport, CT that will answer all of your questions about Debt Collection.

Jonathan David Elliot
(203) 332-5727
1000 Lafayette Blvd., P. O. Box 1749
Bridgeport, CT
Specialties
Family, Debt Collection, Child Custody
State Licensing
Connecticut

Brian S Cantor
(203) 254-1550
1220 POST RD
FAIRFIELD, CT
Specialties
Personal Injury, Business, Real Estate, Probate, Debt Collection
Education
Western New England College School of Law,University of Massachusetts, Amherst
State Licensing
Connecticut

Richard C Feldman
(203) 772-4900
261 Bradley Street, Po Box 1694
New Haven, CT
Specialties
Equipment Finance, Debt Collection, Debt Agreements, Real Estate
State Licensing
Connecticut

Gary P Sklaver
(203) 453-1009
And Sklaver, 105 Court Street
New Haven, CT
Specialties
Business, Lemon Law, Debt Collection
State Licensing
Connecticut

Mark A Sank
(203) 967-1190
666 GLENBROOK RD
STAMFORD, CT
Specialties
Real Estate, Estate Planning, Business, Landlord & Tenant, Debt Collection
Education
Vermont Law School,State University of New York, College at Oneonta
State Licensing
Connecticut

Alfred J Cali
(203) 339-0050
3296 MAIN ST
BRIDGEPORT, CT
Specialties
Foreclosure, Bankruptcy, Debt Collection, Personal Injury, Family
Education
Quinnipiac University School of Law,University of South Florida
State Licensing
Connecticut

Ross Marshall Chinitz
(203) 254-4461
1698 Post Road East
Westport, CT
Specialties
Debt Collection, Bankruptcy, Business, Real Estate
Education
Hofstra University School of Law,University of Maryland
State Licensing
New York

Edward D Jacobs
142 Temple St, Pob 1952
New Haven, CT
Specialties
Real Estate, Debt Collection, Commercial
State Licensing
Connecticut

Thomas B Pursell
675 State Street, P.O. Box 9721
New Haven, CT
Specialties
Debt Collection, Real Estate, Child Abuse, Juvenile
Education
New England School of Law,Fairfield University
State Licensing
Connecticut

Jeena R. Belil
(631) 445-7380
PO BOX 709
MOUNT SINAI, NY
Specialties
Contracts, Insurance, Motorcycle Accident, Car Accident, Debt Collection
Education
Touro College - Jacob D. Fuchsberg Law Center,Rowan University
State Licensing
New York

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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