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Debt Collection Cary NC

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 Cary, NC that will answer all of your questions about Debt Collection.

Mitchell A. Meyers
(919) 415-1776
1003 High House Road, Suite 106
Cary, NC
Specialties
Litigation, Commercial, Family, Debt Collection, Corporate, Landlord & Tenant
Education
Nova Southeastern University School of Law,University of Florida
State Licensing
Florida, North Carolina

John N. Mcclain Jr.
(919) 856-3940
327 HILLSBOROUGH ST
RALEIGH, NC
Specialties
Litigation, Family, Debt Collection
Education
University of Tennessee College of Law,University of North Carolina, Chapel Hill
State Licensing
North Carolina

Victor A. Anderson Jr.
(919) 277-2541
1305 NAVAHO DR STE 303
RALEIGH, NC
Specialties
Construction, Litigation, Debt Collection, Employment, Administrative Law
Education
Campbell University, Norman Adrian Wiggins School of Law,University of North Carolina, Chapel Hill
State Licensing
North Carolina

Carol Ann Zanoni
(919) 803-0365
434 Fayetteville St Ste 2325
Raleigh, NC
Specialties
Bankruptcy, Debt Collection
State Licensing
New Jersey

Joshua James Horton
(412) 338-8200
C/O Dewitt Law Pllc, 118 E Main St Ste A
Carrboro, NC
Specialties
Debt Collection, Debt Settlement, Business, Real Estate, Construction
Education
Duquesne University School of Law
State Licensing
North Carolina, Pennsylvania

Melissa D. Brumback
(919) 881-2214
2840 Plaza Place, Suite 400
Raleigh, NC
Specialties
Contracts, Construction, Debt Collection, Litigation
Education
University of North Carolina School of Law,University of North Carolina, Chapel Hill,Corning Communi
State Licensing
North Carolina

Matthew David Duncan
(919) 277-2541
1305 NAVAHO DR STE 303
RALEIGH, NC
Specialties
Construction, Debt Collection, Environmental, Wills
Education
Campbell University, Norman Adrian Wiggins School of Law,State University of New York, Albany
State Licensing
North Carolina

Todd A. Jones
(919) 277-2541
1305 NAVAHO DR STE 303
RALEIGH, NC
Specialties
Construction, Litigation, Contracts, Real Estate, Debt Collection
Education
Campbell University, Norman Adrian Wiggins School of Law,University of North Carolina, Chapel Hill
State Licensing
North Carolina

James H. Hughes
(919) 489-9100
PO BOX 51909
DURHAM, NC
Specialties
Litigation, Personal Injury, Debt Collection, Employment
Education
North Carolina Central University School of Law,East Carolina University
State Licensing
North Carolina

Nathaniel Coates Smith
(919) 401-0062
111 CLOISTER CT STE 200
CHAPEL HILL, NC
Specialties
Litigation, Workers Compensation, Debt Collection, Personal Injury, Wrongful Death
Education
University of North Carolina School of Law,University of North Carolina
State Licensing
North 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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