Business Debt Collection Process
For the past 30 years, the business debt collection attorneys at Manfred Sternberg & Associates has been helping small- and mid-size business across Texas collect money owed to them. We work hard both outside and inside the courtroom to make sure the debt is paid off.
It can be a difficult process to collect on a business debt, especially if you don't know how to go about it. That's why we're here to help. Learn more about our process.
How Can You Get Payment Owed to Your Business?
First, it's important to know the Fair Debt Collection Practices Act. This federal law prohibits debt collectors from using abusive, unfair, and/or deceptive practices to collect money from individuals. Yet, the FDCPA only covers personal, family, and household debts such as a delinquent credit card account or an overdue car loan. It does not cover any business debts.
We've learned that late-paying customers usually fall into one of these three categories:
- Customers have financial issues which make it difficult to pay on time
- Customers who want to either delay or juggle their payments
- Customers who just want to avoid paying altogether
If the debt is coming from a customer in one of the first two categories, then we try to work out a deal with them to make sure the debt will eventually be paid. This may mean setting up a payment schedule or offering a discount. However, if the customer falls into the third category, then you may have a legal issue on your hand. If this is the case, our debt collection attorneys will work hard to make sure the situation is resolved in a timely matter. This may mean sending out letters demanding payment and beginning legal proceedings against the consumer.
Don't Wait Much Longer
The longer the debt goes unpaid, the more difficult it will be to get the customer to pay the money that you deserve. Manfred Sternberg & Associates, PC, is a full-service law firm in Houston, Texas. Our attorneys have a practical approach to practicing law, are service-oriented, respect clients’ financial parameters with itemized billing and encourage negotiation over litigation.
If you are in need of our Texas debt collection services, we urge you to contact us now for more information.