Georgia Small Business Debt Collection: It is no secret that the key to running a successful business is a healthy bottom line. Businesses need profits to continue operating, paying their bills, and their employees. For small businesses especially, every little bit counts, and it is important to keep an eye on everything coming in and going out. This is why it can be especially devastating to small business owners when customers do not pay their invoices on time. These delinquencies can create solvency issues for the business that may ultimately threaten its own ability to pay bills on time.
Some degree of invoice delinquency is simply unavoidable. Be it a dispute regarding the service performed, solvency issues on behalf of the customer, or just people looking for a free ride – certain customers just do not pay their bills. There are certainly means to address these customers, but there are also steps you can take as a small business in Georgia to minimize delinquent invoice accounts.
Keep your cool. It is a natural reaction to become hostile with a customer who will not pay their bill after you have performed a valid service. While you have every right to be frustrated, taking it out on the customer will be of no service in getting that bill paid. Once hostility is introduced to the matter at hand, cooperation likely goes out the window.
Stay Organized. This is critical in dealing with overdue invoices from a customer. Businesses need to have great documentation of outstanding receivables, including each invoice delivered and the respective due date. It should also monitor each time the customer received correspondence from the business, and the means by which this was done (mail, email, or phone). Debt collection law in Georgia can be complicated, and keeping records like this will ultimately help down the road should the dispute turn into a lawsuit.
Remain Diligent. While you may feel that you are at the mercy of the client, remember that this is a valid debt. While remaining respectful, you should use every tool at your disposal to be paid for the work you have performed. Regularly contact the customer. It may be an honest mistake at first, and simply reminding the customer of the bill does the trick. This can be done via a quick phone call or resending of the invoice. If this does not work, you can institute a deadline for payment.
Know your options. If you have followed all of the steps above and still gotten nowhere, it may be time to hire some help. Many debts in Georgia can be considered delinquent after 90 days, at which point it is possible to take legal action. Introducing a collections attorney can help to navigate the legalities of debt collection while turning up the pressure on the delinquent client. If all else fails, this attorney can file a lawsuit for the debt. An experienced attorney will be able to walk you through all of the necessary requirements for taking action of last resort.
If you have questions regarding a delinquent debt for your Georgia business and need some answers, let us help! Thrift McLemore’s attorneys are qualified in the State of Georgia to collect debts on behalf of their clients. Contact Thrift McLemore by email at info@thriftlegal.com or by phone at 678-882-0830 to discuss how we can help you and your organization collect on your receivables and delinquent debts.
