The business world for creditors has become a treacherous place.
Bankruptcy filings are at an all time high.
Uninformed creditors today who don't act quickly will get little or nothing. Get the information from the customer before the goods and services go out the door when your customer still needs something from you. Monitor your customers' account closely and act immediately when they breach the credit terms. Use an attorney to obtain payments or concessions from your customers at the early stages of collection. Obtain leverage with the client through promissory notes, guaranties and other collection devices.