Your business may have unpaid debts from many different sources, including consumers and businesses of all sizes and structures.1 The approach to successfully collecting a debt should vary depending on who the debtor may be. Debts owed by small business owners may especially require a particular approach to both receive payment and keep the client.
Sole proprietors2 and other small business owners know that profits can vary widely from one month to the next. Many factors can suddenly affect the business’s bottom line and can make it difficult or impossible to cover all debts and expenses for that month. However, this does not necessarily mean that the small business will never be able to pay on debts, so you do not want to automatically cancel your contracts and lose a client upon non-payment. Instead, you should have someone with experience in small business B2B collections employ creative techniques to obtain payment, as the small business may simply need some flexibility in order to pay you.
Seek assistance from someone who understands small businesses
As a business owner, your focus should be on operations and not on seeking payments from your business clients. It is important to have someone handling your B2B debt collections who understands the nature and needs of your small business clients. It is a good idea to retain a business attorney who also has experience in B2B collections. An attorney who advises small businesses on many different legal matters from the start to the end of their operations will have a first-hand understanding of the nature of this type of debtor. This can allow for specially tailored collection methods, payment arrangements, and more to help you receive the payments you are owed.
Consult with a Houston B2B collections lawyer for assistance
Andrew Weisblatt of the Weisblatt Law Firm in Houston has been advising all types of businesses from large corporations to one-owner operations for many years. He understands the unique approach needed for each type of B2B debtor that you have to ensure the most successful collection results possible. Please do not hesitate to call a B2B collections attorney at 713-666-1981 today.