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Debt Collection Brookfield WI

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 Brookfield, WI that will answer all of your questions about Debt Collection.

Mark A. Brellenthin
(262) 792-1122
300 N CORPORATE DR STE 330
BROOKFIELD, WI
Specialties
Personal Injury, Speeding Ticket, Debt Collection, Real Estate
Education
Marquette University Law School
State Licensing
Wisconsin

Marcus James Sengstock
(414) 321-0078
10150 W NATIONAL AVE STE 390
WEST ALLIS, WI
Specialties
Business, Litigation, Real Estate, Personal Injury, Debt Collection
Education
Oklahoma City University School of Law ,University of Wisconsin, Madison
State Licensing
Wisconsin

Timothy R. Hall
(414) 355-3540
5600 W BROWN DEER RD
BROWN DEER, WI
Specialties
Chapter 11, Chapter 7, Real Estate, Debt Collection, Estate Planning
Education
U of Wisconsin
State Licensing
Wisconsin

Paul H. Thielhelm
(920) 562-1576
626 E Kilbourn Ave Apt 806
Milwaukee, WI
Specialties
Debt Collection
Education
Hamline University School of Law
State Licensing
Wisconsin

Paul A. Lucey
(414) 271-6560
100 E Wisconsin Ave Ste 3300
Milwaukee, WI
Specialties
Chapter 11, Commercial, Chapter 7, Arbitration, Debt Agreements, Debt Collection, Foreclosure, Litigation, Contracts
Education
U of Wisconsin
State Licensing
Wisconsin

Sarah A. Ponath
(262) 347-0303
N14w23755 Stone Ridge Dr # 150, Po Box 1109
Waukesha, WI
Specialties
Debt Collection, Speeding Ticket, Power Of Attorney, Wills, Guardianship, Litigation
Education
Marquette U,University of Wisconsin, Madison
State Licensing
Wisconsin

Courtney L. Gustafson
(414) 476-5700
7400 W STATE ST
WAUWATOSA, WI
Specialties
Debt Collection, Family, Guardianship, Criminal Defense, Real Estate
Education
Valparaiso University School of Law
State Licensing
Wisconsin

Thomas J. Awen
(414) 276-6900
740 N PLANKINTON AVE STE 530
MILWAUKEE, WI
Specialties
Bankruptcy, Debt Collection, Criminal Defense, Business
Education
Marquette University Law School
State Licensing
Wisconsin

Jennifer Linn G Karron
(414) 297-5610
777 E Wisconsin Ave
Milwaukee, WI
Specialties
Debt Agreements, Debt Collection, Business
Education
Marquette U
State Licensing
Wisconsin

Jason Altman
(414) 482-8000
3620 E LAYTON AVE
CUDAHY, WI
Specialties
Debt Collection, Lemon Law, Class Action
Education
Catholic University of America, School of Law ,University of Virginia
State Licensing
Wisconsin

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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