Skip to main content
Bernstein Burkley
  • Practice Areas
    • Overview
    • Bankruptcy & Restructuring
    • Business and Corporate Transactions
    • Creditors’ Rights
    • Litigation
    • Oil & Gas and Energy
    • Real Estate
  • Our Attorneys
  • About Us
    • Our Approach
    • History
    • Law Lists
    • Professional Memberships
    • Careers
  • Resources
    • Bernstein’s Dictionary of Bankruptcy Terminology
    • Links
    • Five Minute Legal Master videos
    • Blog
    • Legal Publications
  • News
    • Cases Archive
    • Firm News
    • In the News
    • Industry News
  • Contact
CALL - 412 456 8100
Connect
  • Facebook
  • Twitter
  • LinkedIn
Bernstein Burkley
  • Practice Areas
    • Overview
    • Bankruptcy & Restructuring
    • Business and Corporate Transactions
    • Creditors’ Rights
    • Litigation
    • Oil & Gas and Energy
    • Real Estate
  • Our Attorneys
  • About Us
    • Our Approach
    • History
    • Law Lists
    • Professional Memberships
    • Careers
  • Resources
    • Bernstein’s Dictionary of Bankruptcy Terminology
    • Links
    • Five Minute Legal Master videos
    • Blog
    • Legal Publications
  • News
    • Cases Archive
    • Firm News
    • In the News
    • Industry News
  • Contact
Q&A
Q&A

What is the best way to make sure that I collect on my accounts receivable?

Posted on October 29, 2012 by Bob Bernstein

Ensuring Collection on Accounts Receivable

Q: I am concerned that some of my customers might default on their payments. What is the best way to make sure that I collect on my accounts receivable?

A: The best way to ensure that you will collect on your accounts receivable is to establish a sound credit and collections policy from the start. Insist that new customers sign a credit application or credit agreement that includes interest chargeable on past due balances and a provision that if the account goes into default and you refer it to an attorney for collection, the defaulting party must pay your attorneys’ fees. If possible, include a confession of judgment clause in your credit agreement. And be sure to contact any delinquent accounts for payment as soon as they become past due. Unlike fine wine, delinquent accounts do not become better with age. The older the account, the tougher it is to collect.

 

Share on:
  • Facebook
  • Twitter
  • LinkedIn
Bernstein Burkley

Copyright © 2023 Bernstein-Burkley

best lawyers 2022lawyer of the year Harry Greenfield
ones to watch best lawyers 2022

 

 

Top Bankruptcy Attorney in Cleveland

Links
  • Disclaimer
  • Knowledge Base
  • Privacy Center
  • Site Map

Bernstein-Burkley, P.C.

Phone: 412.456.8100

Fax: 412.456.8135

Email: info@bernsteinlaw.com

Connect