When Clients Drag Their Feet On Paying the Bill ...

Among the most soul-wrenching experiences for a business is this: The client you got great results for stalls on paying the bill. At some point it even might look like there will be no payment.

Since Q4 is the time for law firms to chase those aging receivables Law.com recently published an article on how some New York law firms are using legal action - both in court and through arbitration - to get paid. 

Although law firm Paul Weiss is not mentioned in that coverage we might assume that it too encounters that financial and emotional business headwind.  For example, in its job openings on its website is the position of Senior Collections Specialist. (When clicking on that link the message comes up that the job is no longer available. However, if you click on the Job Opening section that opportunity is listed) 

The responsibilities of the Senior Collections Specialist range from monitoring payments including aging receivables, to developing action plans for collection. Compensation ranges from $85,000 to $100,000. Experience in professional services, preferably law firms, is required.

Here on Main Street we smaller businesses usually turn to collection agencies for non-payment of bills. Their piece of the action can reach 40%. Although they have the legal teams to bring a matter to court they might not make that option available if the amount to collect is "too small." 

In my coaching practice I guide clients to collect as much upfront before the actual work is started.   

Life is hard. Business is even more difficult these days. Get answers – and relief. Jane Genova is a results-driven intuitive coach, tarot reader and content-creator related to careers. Complimentary consultation (please text/phone 203-468-8579 or email janegenova374@gmail.com)