How to Deal with Collection Agents and Attorneys!

Hello again!

If your business is into hard times and you are spending more time dealing with bill collectors than customers what should you do? Hire Financial Technologies as your representative and advocate. Assign those accounts in collection to FT. Find out more at FinancialTechnologies.com

If this is not your current game plan we can offer a few suggestions.

When dealing with collectors let it be known that you may owe the debt but you understand you have rights and you will not tolerate abuse. You should also explain that it will be income from the business that will eventually pay the bill. The only way this can happen is if you are allowed to get on with business.

Don’t promise payment or post date checks. Do NOT discuss possibly available funds you have not received – always say something like check with me next week – if the collector does not find this a sufficient answer do not be pressured into making a promise.

Taking funds needed for operating expenses and making promises you don’t keep only strengthen the collectors hold on you. No matter how bad this makes you feel remember, as of now, there is no debtors prison in this country.

Committing to monthly payments can cause more problems than they solve. If you miss a payment you now have defaulted twice on the same debt. If and when you are able to pay, make sure that any agreement you have with the collector is in writing and signed by both parties. Make it clear that payments will be made as funds are available, not on a specific date.

It is helpful if you understand that collection of business debts could be described as a legal specialty just as divorce or probate. Most legal matters are always better settled out of court and this goes for the collecting attorney as well.

Don’t ignore legal demands. Settlements can be negotiated.

Business debt relief is also a specialty and Financial Technologies has the experience and expertise to do the job. When we represent you your creditors deal with us and free you to pursue business. Follow this link to find out more about business debt management through Financial Technologies.

- TheDebtDr
http://www.financialtechnologies.com