Getting The Faqs OnlineMany businesses operate either solely or partially in a business-to-business market, where their customers and clients are other business entities. [1] When businesses are reluctant to pay their debts, creditors often turn to a business-to-business collection attorney to ensure that their accounts receivable are paid. Below are some answers to frequently asked questions regarding collecting a debt from a business. People with specific questions should consult with a Houston B2B debt collection attorney as soon as possible.

Are business-to-business collections different than collections involving individuals?

Yes. There are often special considerations when attempting to collect a debt from another business, particularly when there is an ongoing and valuable business relationship at stake. Additionally, special legal rules are often at issue when a debtor is a business rather than an individual.

Will I have to file a lawsuit in order to collect on a debt?

No, but in some cases, it may become necessary. In many instances, the simple fact that an attorney has become involved at all in the matter is enough to induce a debtor to pay. Additionally, there are many ways to escalate collection attempts without resorting to filing a lawsuit. [2] For example, an experienced attorney may be able to negotiate a repayment plan that is acceptable to both parties.

Do I need to hire an attorney to collect on a business debt?

While some people feel comfortable firmly asking for money they are owed and doing so repeatedly, others are not. Additionally, when there is personal relationship as well as a business relationship, communication can quickly become difficult. Hiring an attorney to assist in business-to-business debt collection can often alleviate these issues and make the debt collection process quicker and more efficient.6

Contact a Houston business debt collection lawyer today to retain legal counsel

Effective billing and debt collection techniques are essential to the success of any business venture. In many instances, the advice of an attorney can help a business owner implement procedures, policies, and customer contracts that maximize their ability to collect on business debts. Additionally, the representation of a business lawyer is critical in cases where it becomes necessary to go to court to collect a debt. To schedule a consultation with Houston Attorney Andrew Weisblatt, call our office today at 713-666-1981.

References:

[1]  http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Business-Structures
[2]  https://www.law.cornell.edu/wex/lawsuit

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