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Attempting to recover a debt from a customer can be very challenging, and business owners have a difficult choice to make when a customer does not pay their bill: do you pursue the customer or not? What happens when the customer files bankruptcy? At that point, you have to decide if it is worth your time to go after them for the debt.
In some cases, collecting debts can take a long time and cost more money than it’s worth, and you have to evaluate whether you will be successful in collecting the debt. So let’s talk about your chances of success.
What are the odds?
Based on your past knowledge of the debtor or on your review of the debtor’s bankruptcy paperwork, you may have formed an opinion about the debtor’s financial prospects. For instance, is the debtor likely to have an overseas bank account, a hidden boat, or is the debtor someone who’s truly down on his or her luck with nothing left? To evaluate whether you will be successful in collecting the debt, take the following into consideration:
Collecting unpaid debts are essential to the success of any business. Texas attorney Andrew Weisblatt is a skilled Houston B2B business collections attorney who understands how to effectively collect from businesses that may be reluctant or unable to pay their outstanding financial obligations. To schedule an appointment with Mr. Weisblatt, call our Houston office today at 713-666-1981.
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