Debt Collection Help?

[s_x_i]

Guys,

I need some help collecting debt and it's getting out of hand. I have several customers that all owe me in the region of $500 to $1,500 and it's absolutely killing me.

Some of the debts are getting on for 6 months old. We call them every week, and it's always the same old shit, excuse after excuse as to why they can't pay me. :bored: I'm ready to move along and get paid, but I'm not sure of the best way to do it.

Clearly the phone calls aren't working. Do I send letters? Do I go knock on their doors? Call them at work? Have an attorney send letters? I don't know how to get paid, but I'm tired of the excuses and I'm sick and tired of being owed this money.

Do any of you have any experience in collections? Owning a small business? Extracting money from unwilling parties? I have over 5 figures outstanding from this bullshit. I need a way to show these guys I'm serious about getting paid. Any advice would be greatly appreciated. :beer:

 

[SCMOKN]

If you have taken the steps over the phone with no luck, Contact face to face. If that does not get you payment draft up letters informing them the next step is to get your lawyer involved (letter of intent).

 

[Sonic605hp]

Notarized letter from a lawyer threatening a debt collection agency getting involved usually wakes people up that give a shit about their credit.

 

[PSUCOBRA96]

small claims court assuming they are refusing to pay, that gets you a judgment but you still have to get them to pay. With the judgment it will allow you access to tools that will let you garnish wages or bank accounts etc. It is an annoying task. I send out letters many times and they are ignored, my limit is two letters and we file in small claims. (depending on the sum owed).

 

[s_x_i]

This is what I needed to know

I think I'll do one more round of phone calls tomorrow, then letters, then small claims.

 

[ford_racer]

Repossession?

 

[blacksrt]

take them to the local justice court.... Is this TX? If so, I am pretty sure you can't garnish and if you look to repo you have to send them a 10 day letter letting them know you are about to repo.

 

[s_x_i]

Repossession?

Would love to!

 

[tistan]

Why can't you?

 

[s_x_i]

I can, there are just processes I have to go through before I can.

I make more money leaving them in the vehicle, just a matter of getting them to pay. All these people are on time with their notes to the banks but they have all bounced downpayment cheques so there's more than two parties involved. Damnit people, just pay your damn bills! :bash:

 

[SID297]

small claims court assuming they are refusing to pay, that gets you a judgment but you still have to get them to pay. With the judgment it will allow you access to tools that will let you garnish wages or bank accounts etc. It is an annoying task. I send out letters many times and they are ignored, my limit is two letters and we file in small claims. (depending on the sum owed).

This is your best option. Takes time, but usually works.

 

[twista]

Ygpm

 

[oldmodman]

Had to chase a couple of clients for unpaid bills.

I won court judgements against both of them.

Never recovered a penny..........

Until I had a friend's wife (that worked for a cell phone carrier) to check their records to see how he paid a cell phone bill. She got me his new (hidden) account number and I had the Sheriffs accompany me to their bank. Where a notice of judgement was handed to the bank manager and I walked out with a check for the entire amount.

 

[STAMPEDE3]

Can you people stop with the non constructive funny post.

 

[Jacksun]

**Edited by moderator, read the post just above this.**

 

[Ironhand]

Umm.. Cant you hold the car on the lot until the down payment clears? I thought it usually takes a few days for it to clear but a good way to CYA.

I would repo the cars and resell them.

 

[Mr. Mach-ete]

In your instance small claims court would be the best route. Try not to involve an attorney, you'll end up owing them more than amount your seeking, been there done that. Had a customer who owed me $28K, hired an attorney to go after him legally. I won the case but my now ex-attorney billed me $41K for his services. I was scammed by my own attorney, crook. I now have strong verbiage in all my contracts stating I am the owner of all property listed herein until final payment is made and I reserve the right to repossession. There's some other verbiage that states they will pay for all court costs and attorney's fees if I have to pursue them legally.

 

[ff500]

I'm in the same boat, I'm floating about 80K right now. I give 30 days on my invoices but I usually don't see the money for 60 to 90 days which makes it hard to run the day to day business, its been like this for the last few years, they call you and hound you to get the work done and then its like they disapear when it comes to pay the bill.

 

[Dusten]

Umm.. Cant you hold the car on the lot until the down payment clears? I thought it usually takes a few days for it to clear but a good way to CYA.

I would repo the cars and resell them.

the car is bank owned at this point

 

[cbr repsol]

No sure how u can get paid but for future I would not accept checks from people. If they want the vehicle bad enough they will come in with cash for the down payment. When I bought my new gsxr I wrote a check for 2k down payment and asked the dealer if they could cash it next week . So I had a little extra till pay day..they agreed and all was well. Guess not everyone is a stand up person??