Is it difficult to get the money you’re owed from customers?

Want to learn tactics to get paid sooner?

If a debtor gets away with stalling on an account, your company ends up footing the bill for any shortfall in cash flow. In a difficult economy, your cash flow may be strained even when your customers pay on time. You must cut the stall tactics short to improve your cash flow and regain control.

Some of the best ways to short-circuit stall tactics are:

Make your objectives known – You expect full payment by or before a specific date. Keep it straightforward. For example: “With the exception of [one or two legitimate disputes] raised on [one or two specific invoices] that I am researching, I expect full payment of the remaining balance of [balance not involved in dispute] by [a specific time]. I’ll have the information back to you on the disputed invoices by a [specific time].” Have your calendar in front of you while you’re on the phone and pick a date a week or so in the future. If full payment isn’t received by the agreed date, you’re dealing with a debtor who is stalling for time and can’t be trusted.

Require that disputes be supported by facts – A general allegation that “This invoice just doesn’t seem right” or “There must have been a mistake somewhere on your end” just isn’t sufficient. You can’t resolve that kind of dispute because you have no facts to work with. Make the debtor specify what’s wrong.

Quickly resolve any disputes – Insist that you need to know now what disputes exist, immediately followed up by any documentation the debtor has concerning the disputes. Example: “I hear what you’re saying about an alleged dispute, but I need you to back up your comment with full documentation. Can you fax it to me this afternoon?”

Use your instincts and good business sense, plus a review of your file documentation, to determine whether the debtor is raising a legitimate dispute or is simply stalling for time.

Professional Collection Services in Michigan

Need help with collection services in Michigan?

Muller Law Firm can provide prompt collection services for B2B and B2C businesses, specializing in pre-suit, post-suit, and post-judgment collection.

When you’re looking for collection results, you want a reputable professional who has been doing this work for a long time. With over five decades of legal collections experience, you can count on the attorneys at the law firm of Muller, Muller, Richmond &Harms, P.C., to take aggressive action and to get results for you.

Fill out our contact form or give us a call at (248)645-2440 to get the money you deserve!