After sending an invoice for goods or services sold on credit, your customer might not pay by the required date. This may be due to financial constraints, inefficient payment processes or an error that occurred when entering customer data or recording payments. ...
Collection
Collections concerns related to warehouse operations
Warehouse operations are an important feature of many business supply chains. Unfortunately, they can give rise to complex collection concerns. For Florida businesses that rely on warehouses for storing, shipping or receiving goods, unpaid invoices and breached...
Do not badmouth debtors online
When a business is struggling to collect unpaid debts, frustration can run high. It may be tempting to call out a debtor publicly on social media or other online platforms, especially when other collection efforts have failed. However, posting negative comments about...
Collection rights when a debtor files for bankruptcy
When a debtor files for bankruptcy, it can be frustrating and financially challenging for creditors. Businesses owed money may understandably worry about their ability to recover outstanding debts and what legal options remain available. Yet, while bankruptcy can...
Do you require personal guarantees for your business loans?
Taking calculated steps to protect your money is crucial when offering a business a loan. In addition to asking for collateral, you need to consider other options to protect you if the business defaults on the loan. And one of these options is a personal guarantee....
3 categories of people who fail to pay debts
When people fail to pay the debts they owe your business, it can cause significant financial problems. Outstanding debts can lead to serious cash flow issues, leaving your business without enough money to operate effectively. This situation can arise even when your...
Repossession and replevin: What’s the difference?
When you’re a business owner, you’re going to encounter customers who fail to meet their obligations. Recovering property that’s being improperly held can be a big concern. Two common remedies for reclaiming property are repossession and replevin. While these terms...
Holding a business owner accountable for an LLC’s debts
A limited liability company (LLC) is separate from the person who files the formation documents, as well as the members running the LLC. Frequently, people who might otherwise start sole proprietorships establish LLCs as a way of protecting themselves financially...
Can business owners pursue wage garnishment for unpaid bills?
When someone owes your business money and fails to pay, it can lead to severe financial hardships. Recovering the debt is essential, and wage garnishment can be a powerful tool in meeting this goal. In Florida, business owners can pursue wage garnishment to collect...
3 solutions available after a business debt lawsuit
Most people who require the goods or services provided by a business pay for what they receive. However, some people attempt to defraud companies. They make payment arrangements, only to fall behind on their agreed-upon payments. They ignore collection calls and...