Take Control of Your Cash Flow

 Are your late-paying customers impacting your cash flow?

Here are some items to consider:

Be ready to respond to customer bad habits – Communicate with your customers. Let them know slowdowns in payment habits aren’t acceptable, and prompt them to make payments. After a second late payment, inform the customer that you may have to take steps to correct late payment habits, such as suspending their credit terms.

Be considerate, yet firm – No need to panic and ruin a relationship at this point. Your communication at this stage is still very polite, yet firm enough to display your dissatisfaction – such as notifying your customer that a privilege, such as favorable credit terms or 24/7 availability of goods or services, may be suspended until your confidence in their payment habits is restored.

Learn more general cash flow controls on our website!

Debt Collection Services in Michigan

Do slow paying customers impact the health of your business?

Get the money you’re owed with help from Muller Law Firm. Our collection attorneys will fight for your creditor’s rights! With offices in Birmingham and Grand Rapids, we handle claims against debtors located in Michigan, even if you are located out of state or out of the country.

Fill out the information on our “Contact Us” page or give us a call at 248-645-2440 for collection services in Michigan. 

How to Keep Your Cash Flow Steady

 Have you noticed a decline in prompt payments from customers?

A domino effect occurs when your customers fail to pay your company on time – resulting in your company’s inability to pay its creditors on time. To keep your cash flow positive and sufficient to cover your company’s bills, you must implement some general controls as a part of your credit policy.

Be aware of slowing payments – This is a big red flag! Watch for any signs of deterioration in paying habits. While one late payment may not break the bank, a late payment shows a disregard for your company’s payment terms – such that even one late payment does justify a polite nudge to the customer. The nudge can be a compliment such as, “thank you for the payment,” combined with a reminder of your payment terms, “please keep in mind the payment terms.”  

Learn more general cash flow controls on our website!

Debt Collection Services in Michigan

Get the money you’re owed with help from Muller Law Firm. Our collection attorneys will fight for your creditor’s rights! With offices in Birmingham and Grand Rapids, we handle claims against debtors located in Michigan, even if you are located out of state or out of the country.

Fill out the information on our “Contact Us” page or give us a call at 248-645-2440 for collection services in Michigan.