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Having a lawyer help you collect the debts you are owed

On Behalf of | Jan 28, 2021 | Debt Collection |

Those who own businesses here in the Elizabethtown, KY, region know they cannot let unpaid bills mount. To manage a business or company effectively, you must have a steady stream of income. When customers do not pay, it harms your business and your financial accounts.

You have written letters requesting payment. You have called those who owe you with both reminders and demands. You have probably sent emails or requested a meeting to address the problem of nonpayment. Sometimes, your efforts are successful. When they’re not, you’re left struggling to find a way to collect.

How can an attorney help with collections?

In many cases, working with an attorney gives you better results when you’re struggling to collect on the debts owed to your business than trying to use a mere collection agency. Below, we have listed five benefits of using a lawyer for your debt collection efforts:

  • Lawyer assistance is usually more cost-effective than collection agencies.
  • People often ignore collection agencies, but they tend to pay attention to an attorney.
  • In many cases, a lawyer can get your money faster than an agency.
  • If clients still do not pay after your lawyer approaches them, he or she can file a lawsuit for payment.
  • Choosing to work with an attorney provides you with an advocate to help with other business-related issues as well.

Successful businesses in Kentucky operate the best when funds flow in at a regular pace. Collecting your debts promptly ensures that you have the funds you need right when you need them most. If you wish to read other financial topics, keep exploring our blog and our website.