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Debt Collection Lafayette LA

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 Lafayette, LA that will answer all of your questions about Debt Collection.

Tracy P. Curtis
(337) 262-9027
Po Drawer 3408, 600 Jefferson Street, Suite 1600
Lafayette, LA
Specialties
Debt Collection, Business, Insurance, Employment, Personal Injury, Construction, Litigation
Education
Louisiana State University
State Licensing
Texas

Jason Blake Boudreaux
(337) 233-9600
600 Jefferson St, Ste 600
Lafayette, LA
Specialties
Debt Collection, Business, Employment, Personal Injury, Litigation
Education
Louisiana State University
State Licensing
Texas

Gerard O. Salassi IV
(504) 866-4100
7933 Maple St
New Orleans, LA
Specialties
Bankruptcy, Debt Collection, Banking
Education
Loyola University New Orleans College of Law,Louisiana State University
State Licensing
Louisiana

Dominick Scandurro Jr.
(504) 392-3308
8748 Highway 23 Ste 3
Belle Chasse, LA
Specialties
Real Estate, Personal Injury, Litigation, Estate Planning, Debt Collection
Education
Tulane University Law School
State Licensing
Louisiana

Claude W. Bookter Jr.
(318) 221-3444
Louisiana Tower, 401 Edwards Street, Suite 2100
Shreveport, LA
Specialties
Insurance, Medical Malpractice, Workers Compensation, Debt Collection, Nursing Home Abuse
Education
Louisiana State University, Paul M. Hebert Law Center,Louisiana State University, Baton Rouge
State Licensing
Louisiana

Jason Blake Boudreaux
(337) 233-9600
600 Jefferson St, Ste 600
Lafayette, LA
Specialties
Debt Collection, Business, Employment, Personal Injury, Litigation
Education
Louisiana State University
State Licensing
Texas

Joseph P. Titone
(225) 387-4000
632 E Woodruff Dr
Baton Rouge, LA
Specialties
Debt Collection, Banking, Bankruptcy
Education
Louisiana State University, Paul M. Hebert Law Center,Louisiana Polytechnic Institute
State Licensing
Louisiana

Richard L. Crawford
(225) 343-3456
3301 North Blvd
Baton Rouge, LA
Specialties
Debt Collection, Bankruptcy
Education
Louisiana State University, Paul M. Hebert Law Center,Louisiana State University
State Licensing
Louisiana

Terry Alvin Doughty
(318) 728-2051
607 Madeline St
Rayville, LA
Specialties
Insurance, Probate, Real Estate, Personal Injury, Debt Collection
Education
Louisiana State University, Paul M. Hebert Law Center,Louisiana Tech University
State Licensing
Louisiana

Marc R. Michaud
(504) 267-1567
5721 Magazine Street, PMB No. 168
New Orleans, LA
Specialties
Debt Collection, Employment
State Licensing
Louisiana, Massachusetts

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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