Question & Answers

As seen in the Pittsburgh Business Times

• I have a business tenant that hasn’t paid rent. What should I do?

• How is technology helping bankruptcy and creditors’ rights law firms better serve their clients?

• What are the fiduciary duties of the board of directors for a company or organization?

• What does “discovering assets” mean?

• What are some of the biggest obstacles facing companies in financial distress from considering restructuring?

• How can I offer credit to customers, while still protecting my interests?

• What can I do in the new year to improve revenue?

• What are some suggested provisions for the terms I should be including in my credit agreement in order to protect my rights against a defaulting credit customer?

• What is an inter-creditor agreement?

• Is there a protocol you have to follow when collecting a debt?

• I heard through a third party that my customer filed bankruptcy. Is there anything I should do to protect my interests?

• If my customer shuts down and sticks me with a large debt, can I sue the owners individually?

• What steps should I take in creating a credit limit for new clients?

• Is it safe to buy assets off of a bankruptcy company?

• Should I continue to sell to a client that has fallen behind on payments, but promises to get caught up?

• How do I start the collection process?

• Will joining an Unsecured Creditors’ Committee cost me money?

• What is the best way to establish a credit policy and credit lines?

• How can I collect a balance from a deceased customer?

• How can I completely avoid credit losses?

• What does “discovering assets” mean?

• How can I get salespeople to consider payment terms?

• What does the term “workout” mean in the creditors’ rights arena?

• Battle of the Forms

• What are the benefits of your new Expedited Foreclosure System © ?

• When should we review our customer contracts?

• How Can I Offer Credit to Customers?

• What role should a salesperson play in collecting a debt?

• Why is winning a judgment just the beginning?

• Is there a guideline for what our company should look for in a borrower?

• The court ordered that I return the money I’m owed. What should I do?

• What is a good way to increase your chances of getting paid what you’re owed?

• How does a creditors’ rights practice locate the “disappearing debtor”?

• Are there warning signs that identify a bad borrower?

• If a business owner is considering filing bankruptcy, what is the first step?

• Does the new bankruptcy law affect commercial lease laws?

• Why is a trained mediator important?

• How do the new bankruptcy laws affect creditors?

• What can a creditor do once a customer is on its “credit radar screen”?

• How is technology helping law firms better serve their clients?

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

• What websites do you recommend using to locate “disappearing debtors” and their assets?

• A customer hasn’t paid for services we performed. What should we do first?

• What should I do if I hear that my customer filed bankruptcy?

• Can you give us some insight on an effective 2007 credit policy for our business?

• What are some things I should look for when reviewing my sales and credit contracts?

• Why is “collections” such an important issue for businesses?

• Why should my business be careful about how we dispose of old records?

• Why don’t more companies establish a sound credit and collections policy and stick to it?

• What is Chapter 22 bankruptcy? Do any prominent examples come to mind?

• How can I protect my rights against a defaulting credit customer?

• I have a business tenant that hasn’t paid rent. What should I do?

• How is technology helping bankruptcy and creditors’ rights law firms better serve their clients?

• I’ve leased equipment to a customer who has just filed Ch. 11 Bankruptcy. What can I do to protect my interests?

• Is there a protocol you have to follow when collecting a debt?

• Can unsecured creditors receive priority payment?

• Why is a trained mediator important to your clients?

• Should I be involved in an Unsecured Creditors’ Committee?

• How can I offer discount payment terms to incentivize paying the full balance?

• How can I offer credit to customers and at the same time protect my interests?

• What is a Chapter 22 and when would someone file that?

• How do I start the collection process?

• Is there a way to protect myself from a customer filing bankruptcy and sticking me for a balance?

• How can I eliminate “snail mail” invoices?

• What are some of the requirements that my credit manager should include in a commercial credit application?

• How can I predict if a credit applicant is likely to pay?

• When should I call when a customer falls behind on payments?

• What are some exceptions with regard to credit limits and discounts that I can offer?

• What are some of the outcomes that may occur from litigation?

• How do I differentiate between “honest customers” and “credit criminals”?

• What else can The Get P.A.I.D.® System help me accomplish?

• Who is the best person to be responsible for explaining credit terms to the customer in advance of delivery?

• Should a late fee be built in to my credit policy?

• I’m hoping to avoid legal action. What should I do?

• What steps should I take in creating a credit limit for new clients?

• How can mediation help me settle a dispute?

• What should I do if my customer does not pay when due?

• How can I make sure that I’m properly covered by a Letter of Credit?

• What is a ‘Payment Gap’?

• Would it make sense for us to go to an outside recovery source?