When placing a file, keep these key points in mind:
1. Obtain proper paperwork at the time of service.
2. Have customers sign invoices or contracts that clearly state the inclusion of any interest and collection fees; and, if possible, provide a copy of their driver’s license to prevent future identity fraud claims. Ensure it is clear who is signing the documents, and how they are associated with the account.
3. Consider using ‘personal guarantee’ language for commercial accounts to attach debt to individuals rather than businesses.
4. Ensure all terms are clearly stated in writing, including the addition of interest, collection fees, court costs, and attorney fees in case of default.
5. Submit your collection as early as possible for the highest probability of recovery.
Voss & Klein can help streamline your accounts receivables with our proven agreements.
(See Sample Forms)