Your clients are the lifeblood of your Florida small business, but when one of these fails to pay its debts, that could cause your business financial troubles. We at CreditorCollections, A Law Firm, often counsel companies on collecting debts from their clients.
Documentation is key to the process of collecting a debt, according to Small Business Trends. This involves more than simply producing a contract, although that certainly is important. It is a good idea to create a trail of communication. Every time you contact the client, make copies of the letters and send them certified mail, and save every email. Not only that, you should document the time and date of every phone conversation and in-person visit, and take notes of what was said.