Mini Intro to Debtor Admissions, Part 2

Can you use your debtor’s admission in court?

Getting the customer to admit owing the debt isn’t always easy. It can be the next best thing to actually getting paid as long as you handle it right. When your debtor admits that they owe you money, you can:

• Use the admission in court to help prove the debt.
• Remind the debtor of their previous admission if they try to use the same excuses for delaying payment later.

"It defies logic for this Honorable Court to proceed with a case when the Defendant has admitted his liability,” says Barbara Muller-Wilson. We’ll do everything we can to help you succeed in your case!

Learn more in our latest article.

Need help collecting debt from someone in Michigan?

You’re in the right place!

Your money is our #1 priority. If you or your debtor live in Michigan, we can take on your debt collection case. Take the pressure and frustration off your plate by contacting the Mullers at (248) 645-2440 or by submitting a contact form. We look forward to hearing from you!

Mini Intro to Debtor Admissions, Part 1

What qualifies as an admission from your debtor?

An admission is a statement from the debtor conceding that they owe you money. An admission may be full (“I owe you all the money you claim”) or partial (“I owe you some of the money, but dispute the balance.”) 

The admission can come in a number of forms, including an oral statement (for example: during a meeting or phone call), in writing such as by letter or email, in a repayment agreement you negotiate, or implied by the debtor’s actions such as sending you partial payment on your bill.

Learn more in our latest article.

Need help collecting debt from someone in Michigan?

You’re in the right place!

Your money is our #1 priority. If you or your debtor live in Michigan, we can take on your debt collection case. Take the pressure and frustration off your plate by contacting the Mullers at (248) 645-2440 or by submitting a contact form. We look forward to hearing from you!

Why You Should Have Tighter Controls on New Customers

Are you worried about customer loyalty?

When you first extend credit, your new customer knows they’re being monitored. For that reason, in most cases they’ll pay the first few invoices on time. After that point, some customers decide that they can relax and pay less promptly because they’ve already earned your respect and are no longer under the microscope, and their payments may start slowing.

In order to collect on a debt, you need to be able to identify exactly who your debtor is – such as a partnership, a corporation, or a limited liability company. This is not always easy! This process can be long and complicated, especially if your debtor is using multiple names and/or locations.

Learn more in our latest article.

Hire a Michigan Commercial Collections Attorney Today!

To protect your creditors’ rights, contact an experienced attorney for commercial collections in Michigan at (248) 645-2440 or via contact form for an effective resolution to your collection matters. Let the experts worry about your collections, so you have more time to focus on growing your business.

Four Ways to Implement Tighter Controls on New Customers

Are you finding it challenging to get new customers to pay on-time?

To protect yourself, you may choose to adopt some of the following controls:

1. Put the customer on a short leash, such as a 15-day watch list, so you detect a slowdown in payments almost immediately.
2. Be ready to turn off the credit faucet: no credit if no payment.
3. Hold up further deliveries of your goods or services until the customer pays his late invoices.
4. Get additional assurance of payment, such as liens, guarantees, and promissory notes.

Learn more in our latest article.

Hire a Michigan Commercial Collections Attorney Today!

To protect your creditors’ rights, contact an experienced attorney for commercial collections in Michigan at (248) 645-2440 or via contact form for an effective resolution to your collection matters. Let the experts worry about your collections, so you have more time to focus on growing your business.

Monitoring a Payment Plan

Have you set up a payment plan with a debtor?

When your debtor is short of cash and can’t pay off the entire debt at once, setting up a payment plan makes a lot of sense. But after you have the payment plan in hand, how do you keep the payments coming in?

After you set up a plan where the debtor is to pay off the account in installments, you should closely monitor the account, watching for any sign that the debtor is falling behind again. After the payment plan is implemented, remind the debtor that you expect all installments to be paid on time. 

But what do you do if the debtor misses a payment? Once again, the account is delinquent, and you certainly don’t want to go back to square one. As long as you actually intend to file a lawsuit if the debt isn’t paid, this is the time to threaten litigation.

Read more in our latest article.

Need a collection company that operates in Michigan?

You’re in the right place!

Your money is our #1 priority. If your or your debtor live in Michigan, our collection company can help! Take the pressure and frustration off your plate by contacting the Mullers at (248) 645-2440 or by submitting a contact form.

Effective Reminders for Debtors on Payment Plans

How can you make sure your debtor doesn’t fall behind on a payment plan? 

After you set up a plan where the debtor is to pay off the account in installments, you should closely monitor the account, watching for any sign that the debtor is falling behind again. After the payment plan is implemented, remind the debtor that you expect all installments to be paid on time. 

Here’s how you can remind your debtor effectively:

• Send statements to the debtor in advance of each payment due date. Restate the due date, amount due, and remaining balance.
• Place reminder phone calls/emails. Remind the debtor that you expect all installments to be paid on time.

Read more in our latest article.

Need a collection company that operates in Michigan?

You’re in the right place!

Your money is our #1 priority. If your or your debtor live in Michigan, our collection company can help! Take the pressure and frustration off your plate by contacting the Mullers at (248) 645-2440 or by submitting a contact form.

Keeping Copies of all Client Material

Why is it important to keep all your customer’s records?

In our last blog, we talked about what notes you need to keep on your clients. Following that, here is a brief description of the copied documentation that you should keep alongside your notes:

1. Copies of all follow-up statements. Your copies should be exactly as they were sent to the debtor, including any markings of “urgent,” “reminder,” “past due,” and so on, so you can demonstrate your persistent efforts to collect the debt without resorting to litigation.
2. Copies of all demand letters and follow-up correspondence. Keep records of all correspondence, no matter how it was sent. Keep copies of letters, emails, faxes, or any other written exchanges.

Learn more in our latest article.

Need help collecting commercial debt from someone in Michigan?

You’re in the right place!

Your money is our #1 priority. If you or your debtor live in Michigan, we can take on your commercial collections. Take the pressure and frustration off your plate by contacting the Mullers at (248) 645-2440 or by submitting a contact form.