At the end of each month New Mexico businesses bill their clients and customers for the work they have done. Some will see payment in a matter of days; others may have to wait longer. And some may not get paid at all.
For any business that has a high volume of customers or clients, it is inevitable that some of your accounts receivables will fall in that last category. As a business owner you must ensure a strong and steady cash flow. A law firm with expertise in collections is an excellent resource to help you collect these overdue bills.
Here’s why. First of all, how you go about collecting overdue accounts receivables is regulated both by the Federal Fair Debt Collection Practices Act (regarding debts with consumers) and state law, which seek to curb abusive or overly aggressive collection practices. So you want to make sure you are in compliance with these laws and regulations. Second, if you want to collect late fees or interest for late payments, you need to plan in advance. Your invoices need to be properly drafted so that your fee structure and allowable penalties for late payment are obvious and clear. Third, if you want to recover attorney’s fees from those who pay late or when a dispute over payment occurs, then you will need to know how to set matters up for that possibility.
At the Law Office of George “Dave” Giddens, P.C. we offer expert, dependable drafting of collection documents and represent many creditors in Albuquerque, Santa Fe, Taos, Raton, Farmington, Gallup, Grants, Roswell, Los Lunas, Placitas, Belen and the rest of New Mexico. We can provide peace of mind by providing the expertise you need in your collection matters and ensure that you receive full compensation for tardy and delinquent receivables.
Our conveniently located office has ample free parking and is easily accessible by public transportation. We offer flexible office hours upon request. To make an appointment for a consultation about your real estate matter, contact us online or call us at (505) 633-6298. See more at giddenslaw.com/Real-Estate-Law/.