creditor defense Archives

Creditors' Rights - Options for Getting Your Clients to Pay

Clients who refuse to pay for services rendered are not only frustrating but can represent a real threat to your company's bottom line. Fortunately, creditors have recourse at their disposal. But taking self-help measures is not always the right way to go. Here are some strategies to help you collect from delinquent clients without resorting to strong-arm techniques that could put your company at risk.

What is a creditors’ committee?

If you are a creditor, one thing that might fill you with worry is if a business that owes you money ends up in bankruptcy, such as Chapter 11 bankruptcy. You may worry about whether the debt will be repaid and whether your rights and interests will be protected during the bankruptcy process. These worries may be particularly strong if the debt you are owed isn’t backed by any collateral (known as unsecured debt).

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