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Debt Collection North Little Rock AR

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 North Little Rock, AR that will answer all of your questions about Debt Collection.

Christopher P. Corbitt
P.O. Box 4368
Little Rock, AR
Specialties
Patent Application, Debt Collection, Real Estate, Litigation
Education
University of Arkansas - Fayetteville,University of Arkansas - Fayetteville,University of Arkansas -
State Licensing
Arkansas

Charles S. Bohannon
(501) 212-1324
200 West Capitol Avenue, Suite 2300
Little Rock, AR
Specialties
Bankruptcy, Debt Collection, Aviation, Fraud, Litigation
Education
Southern Methodist University
State Licensing
Arkansas, Texas

Tasha Chloe Sossamon Taylor
(501) 370-4800
217 W 2ND ST STE 115
LITTLE ROCK, AR
Specialties
Debt Collection, Lemon Law, Contracts, Appeals, Personal Injury
Education
University of Arkansas at Little Rock, William H. Bowen School of Law,University of Central Arkansas
State Licensing
Arkansas

Jason Daniel Files
(501) 374-0616
1409 Cumberland Street, Suite One
Little Rock, AR
Specialties
Adoption, Appeals, Car Accident, Child Custody, Child Support, Construction, Criminal Defense, Debt Collection, Divorce, Federal Crime, General Practice, Personal Injury
State Licensing
Arkansas

Leisa Pulliam
(214) 800-2831
2024 Arkansas Valley Dr #205
Little Rock, AR
Specialties
Tax, Bankruptcy, Debt Collection, Business, Real Estate
Education
Southern Methodist University
State Licensing
Texas

James Jay Glover
(501) 212-1298
200 W CAPITOL AVE STE 2300
LITTLE ROCK, AR
Specialties
Litigation, Bankruptcy, Debt Collection, Ethics
Education
University of Texas School of Law,Vanderbilt University
State Licensing
Arkansas

Tasha Chloe Sossamon Taylor
(501) 370-4800
217 W 2ND ST STE 115
LITTLE ROCK, AR
Specialties
Debt Collection, Lemon Law, Contracts, Appeals, Personal Injury
Education
University of Arkansas at Little Rock
William H. Bowen School of Law
University of Central Arkansas
State Licensing
Arkansas

Gregg Austin Knutson
(501) 224-2928
111 CENTER ST STE 1200
LITTLE ROCK, AR
Specialties
Debt Collection, Business, Litigation, Construction, Personal Injury
Education
University of Arkansas at Little Rock, William H. Bowen School of Law,University of Arkansas - Fayet
State Licensing
Arkansas

Scot Phillip Goldsholl
(501) 661-1000
415 N Mckinley St#555
Little Rock, AR
Specialties
Debt Collection
Education
Drake University
State Licensing
Arkansas, Texas

Melvin Thathiah
(469) 621-0149
701 W. 7th
Little Rock, AR
Specialties
Debt Collection
Education
Florida Coastal School of Law
State Licensing
Texas

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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