Business to Business Collections
According to industry reports, many businesses struggle with collecting outstanding account receivables. The September 2014 Atradius Payment Practices Barometer stated that approximately 52% of the value of invoices 90 days past due were written off as uncollectable. Incredibly, this translated to around one in every two invoices! Plus, the same report revealed that 38.4% of all Business to Business (B2B) invoices in America were not paid promptly. This is troubling news as the US economy depends on fair compensation in exchange for goods and services.
Fortunately, this problem need not affect your company. Our lawyers have had tremendous success in B2B debt negotiations and recovery. We avail ourselves to a number of creative and unique strategies to make sure that all financial obligations to you are being met.
What is B2B Debt Collection?
Business to Business (B2B) Debt collections represent all efforts under Florida law and the Fair Debt Collection Act to seek remuneration from another business who fails to meet their contracted fiduciary agreements. Some of these typical commercial agreements come in the form of personal guarantees of payment, loans agreements, negotiated arrangements, IOU’s or promissory notes, goods sold or inventory collateral, and professional service courtesy.
Our first and preferred option would be an amicable resolution to Business to Business (B2B) debts. However, some possible remedies include:
- Demand Letter - Such letters send a strong signal to the debtor of the seriousness of the matter.
- Mediation - A neutral party or judicial magistrate might be an intercessor in the dispute.
- Litigation - If all friendly and well-meaning attempts at compensation go ignored, civil action could be used . A lawsuit compels the debtor to go on record to explain his/her delay or pay the amount due with additional penalties.
Both the federal government and the state of Florida constantly make changes to the laws and regulations that govern business practices in this state. Successful litigation requires a team thoroughly versed in this field of law.
Workable Pricing Plan
Our office offers a competitive and workable price structure for its services because of our knowledge of Florida business law and low overhead. Our plan gives our clients a piece of mind to concentrate on the dispute, rather than legal fees.