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Collecting a debt from a client

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.

If you believe the client has the means to pay and is just refusing to do so, it may be difficult to maintain your composure as you attempt to collect the debt. However, any communication that comes across as harassment could backfire. Do your best to remain calm. You may even want to hire a debt collection agency and let it take care of the issue for you.

However, you may know that the client is in serious financial trouble and does not have the means to pay the debt. The company could be considering bankruptcy, in which case the unsecured debt may never be paid. You may benefit from offering the client the option to settle the debt for less than the total amount. 

Other commercial debt collection methods may also be available to you, depending on the situation. For more information about options for collecting a commercial debt, please visit our webpage.

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CreditorCollections, A Law Firm

West Palm Beach Office
200 Butler Street, Suite 307
West Palm Beach, FL 33407

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