This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Construction equipment companies have an ongoing requirement for debtcollection from businesses (and sometimes individuals) who do not pay the agreed-upon rental dues on time. An experienced collection agency that has extensive experience in commercial collections is a perfect choice. Contact Us.
A startling rise in construction firms defaulting on covid loans could signal a wave of future business failures. It also signals a potential wave of DebtCollection action from creditors to recover what is owed. Construction businesses are contending with both shortages of materials and labour and rising costs.
These receivables are usually B2B accounts that require commercial debtcollection. A collection agency with its three-step collection process can assist businesses to recover money in an amicable manner. Need a collections agency for your business: Contact us. Written Notices sent by a Collection Agency.
ReSolve partner Chris Farrington said: “It is unfortunate to see a business with a strong trading history and a portfolio of superb construction projects completed over the course of many years, encounter the difficulties experienced by Kenham Building. “It Could DebtRecovery have saved the Luxory Homes builder?
You might be preparing to write off these dues as bad debts — but there is still light at the end of the tunnel. The experienced collection attorneys at the Law Offices of Alan M. Cohen LLC will work relentlessly to make sure you recover your bad debt. Why Hire a Collections Attorney? The Law Offices of Alan M.
Latest data analysis by Mazars has found that on average a dozen construction firms are going bust every day after 4,370 firms collapsed last year. This is an immensely difficult period for the construction sector. The consequences of these failures in the construction sector go beyond just delayed payments for subcontractors.
In the realm of debtrecovery, the “ no collection no fee ” debtcollection strategy stands out as a beacon for ethical practice. Clear Communication and Transparency In adopting a no cure no pay debtcollection model, a commitment to clear communication and transparency becomes paramount.
If you are a contractor, subcontractor, or supplier of materials for construction jobs, you deserve proper compensation for your labor and/or materials. Cohen LLC have over 35 years of e experience in preparing, recording, litigating and collecting on mechanic’s liens in Massachusetts. Avoiding Mistakes is Critical.
Some people believe a recession is lucrative for the debtcollection industry. On the face of it, people make the assumption that it is boom time for the debtcollection sector. Contrary to popular belief, a recession does not bring any benefits to the debtcollection sector at all usually.
It is recommended to assign accounts for collections roughly when they are between 60-90 days past due for a maximum recovery rate. The recovery rate dips as the account gets old. The following chart demonstrates the relationship between the Account-age and Recovery-Rate. Recovery Rate. Construction.
If you are unlucky enough to have done business with construction companies or property owners who seem to be rolling in cash, but never have time to pay, you’ll soon find out the importance of a mechanic’s lien in Massachusetts in debtrecovery. To be able to take advantage of this debtrecovery tool you need: 1.
Have you ever grappled with the challenge of debtcollection in Derby? In this post, we delve into the nitty-gritty of writing an effective debtcollection letter, a crucial tool in your arsenal for managing your receivables and maintaining positive cash flow.
Managing debtcollection fees can be a daunting task for any business. An ineffective credit and collections process not only increases these fees but can also strain relationships with customers. This blog post will guide you through simple steps to completely overhaul your credit and collections process.
The Massachusetts Mechanic’s Lien Statute is a law that helps safeguard contractors’ and suppliers’ “investment” in a construction project’s improvement. A mechanic’s lien is a statutorily-created lien against the construction property. Teaming with an experienced collections lawyer , like those at the Law Offices of Alan M.
million into HMRC DebtCollection, raising efforts to recover £4.67 According to Treasury estimates, the injection of cash will help HMRC’s debt management team recoup £515million in taxes in 2024-25. Being chased by HMRC DebtCollection Team? The Government is to our £16.3
Suppliers, contractors and subcontractors, especially those in the construction industry, know this all too well, as they can often be strung out waiting for their compensation after completing work for the project for which they were hired. Provided general contractor or construction management services on a given job.
When you’re struggling to collect on a business debt, sometimes, you need to rely on effective tools and creative strategies. Our aggressive and relentless commercial collections attorneys have more than 50 years of combined experience. How can an aggressive and relentless collections attorney help?
Tips from a Debt Collector . Credit control and debtcollection are the two most crucial components of sustaining a solid cash flow since, as they say, cash is king. Here are some suggestions for proactive steps that may take to improve your credit control and, ideally, avoid having to deal with debtcollection.
If you own a large construction company, you are familiar with mechanic’s liens. They are a powerful tool given by statute to certain actors in the construction industry, and they’re the only type of property lien that doesn’t require a judge’s approval. We don’t have to learn collections or look up the statutes.
Whether you operate in or outside Massachusetts, if your customer to whom you had provided goods or rendered services on credit is located in Massachusetts and is not paying off your debt, then get in touch with our experienced and aggressive debtcollection lawyer, Alan M. Cohen, today. With us, the Law Offices of Alan M.
When it comes to engaging consumers in debtcollection, behavioral science helps us to understand and respond to an individual’s situation, motivations, and contact preferences. For example, we know that consumers don’t like being called by debt collectors. How can technology personalize the debtcollection experience?
The debtcollection industry has been through one of its most difficult periods in modern history, and the recovery looks slow and prolonged. Performance of Collection Agencies during Covid-19 Pandemic. Economic downturns create a huge opportunity for the debtcollection industry.
Before a business owner can file a mechanics lien for an unpaid construction or building debt, they must first establish a contract by filing a notice of contract. This includes protecting the financial interests of contractors, subcontractors and suppliers in the construction industry. At Law Offices of Alan M.
While financing helps businesses expand, manage operational costs, and navigate economic downturns , excessive debt can lead to financial distress and collection actions. Key Trends in Small Business Debt: Insights from the Global Findex Database 1. Regional Debt Trends: The U.S. According to U.S.
Example : A construction company amortizing the cost of a new excavator ensures the machine generates revenue while its cost is gradually paid off. Debt Consolidation Consolidating into a single amortized loan for businesses managing multiple debts can simplify payments and reduce overall costs.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content