Foresight can save you a lot of trouble. Our specialized lawyers can offer some guidance and legal advice on which good preventive management practices will best avoid an accumulation of delinquent accounts.
Whether you are an individual or a business, we have the tools to guide and advise you to efficiently manage your accounts receivable and minimize losses caused by outstanding debts. It will thus be possible to reduce the stress and hassles caused by your list of unwilling debtors.
Proper management of your accounts starts with the use of a clearly written contract, signed by both parties. It can contain information about interest, and the moment when it will start accruing. The contract will also deter your debtor from claiming you’ve breached your obligations, since they will be clearly defined.
It is also useful to implement a periodic billing system to avoid accounts from escalating and becoming difficult to recover. This will also prevent the client from acting surprised at the overdue amount.
Obviously, every company and industry is unique; therefore one method cannot necessarily apply to all types of businesses. Similarly, a standard contract is not necessarily applicable or useful in your case. It may be beneficial to personalize the contract to fit your business, and even sometimes each client, when the projects vary from one client to another.
Whether you need help drafting new contracts, or revising and updating your current ones, a lawyer will be able to help you include or exclude clauses that will meet your specific needs.
Do not hesitate to call upon our team of specialized debt collection professionals. They will be able to help and guide you through the legal process of recovering your delinquent accounts.