The tips to avoid lawsuits from Alexander, Miller & Associates are aimed at creditors as well as debtors. After being the commercial collections for more than 8 decades, the company understands the amount time, effort and money involved in the lawsuits. Moreover both the parties may end up with negative scores and credit rates after the verdict. Many of the million dollar debt cases are known to drag on for many years, forcing the parties to shell million more dollars in the process. Hence the experts at Alexander, Miller & Associates suggest going for the negotiations to settle the repayment of debts. This will help in saving time, effort and money for both the parties.
Alexander, Miller & Associates – Useful Tips for Creditors
- Accurate Accounting: – Automation of the accounting procedures is perhaps one of the best practices for the creditors. Alexander, Miller & Associates suggest using the enterprise edition of the software application which can be implemented in the multi user environment. You could come across many such cloud based accounting and finance modules which are approved by the federal and state governments as legally valid. Once you have done that you will be able to keep track of all the transactions. You can also customize the app top stop transactions with particular debtor when the value of credit crosses a specific amount or the number of credit days has crossed a limit as decided by you. Then there is no question of continuing with the piling of debts unless the debtor has cleared the existing balance.
- Periodical Follow Up: – By following up on the debt repayment regularly (you can decide on the frequency and keep your customer informed about it), you will be able to keep your customers aware of the need to clear the balances regularly.
- Being Stubborn: – Once the credit limit or number of credit days has crossed, you need to be stubborn about discontinuing the transactions with such customers. It is always better to fix the problem when it is smaller rather waiting for it to grow into a big tree. You might feel the pain of losing a customer. But this is better than having to face the risk to lose thousands of dollars when the customer fails tie clear the outstanding debts years later.
Alexander, Miller & Associates – Useful Tips for Debtors
- Avoid Long Term Debts: – It is always better to clear off the debts periodically than waiting for them to grow bigger. The experts at Alexander, Miller & Associates feel it is a better practice to schedule payments after discussion with your creditors.
- Prefer Negotiations: – Even when you are facing the prospects of debt problems from your creditors, you can always choose the path to negotiations than going for the lawsuits. This will help in saving your time and the expenses you need for the legal proceedings. Moreover you can save your company’s reputation and name by following the guidelines and advices of agencies like Alexander, Miller & Associates.