Accounts Receivable Collection

In the current business climate it is more critical than ever to be paid on time. When outstanding accounts receivable weigh on your business and its balance sheet, it weighs on the owner as well. Owens & Perkins has developed a streamlined, cost-effective way to reduce your accounts receivable by collecting the money that you are owed.

First, the debt is verified. Federal law puts certain requirements, including verification, on law firms and other businesses that collect accounts receivables and other debts.

Next, a demand letter is issued to the debtor by one of our Attorneys. Our experience has shown that companies and individuals treat letters from Attorneys more seriously than if the exact same letter came from the creditor company.

If the account is not paid, a lawsuit is filed. Delay does not help your cash flow nor does it increase your chances of collecting. Our experience has shown that taking prompt action against recently delinquent debt generates the best results.

As the lawsuit proceeds, the debtor can pay at any time. If the debtor does not pay, a judgment is issued. Once a judgment is issued, several different collection actions may be taken.

Judgment collection actions include, but are not limited to, wage garnishment, financial account(s) garnishment, recording a lien, and a debtor's exam. Each of these procedures are designed get your judgment paid.

If you are interested in contacting Owens & Perkins about accounts receivable collection, click here.