Reclaiming What’s Yours: Your Dedicated Debt Collection Partner
Posted on November 15, 2024 by Michael Lebovic
Are you tired of chasing down unpaid invoices?
At Canadian Corporate Legal Services, we understand the frustration and financial strain that unpaid debts can cause. For over 37 years, we’ve been committed to helping businesses like yours recover what they’re owed.
Our Mission:
We believe in the value of hard work and fair compensation. Our mission is to provide efficient and effective debt collection services that empower our clients to reclaim what’s rightfully theirs. We’re more than just a law firm; we’re your partner in financial recovery.
Our Approach:
Our experienced team is dedicated to working closely with you to develop a customized debt collection strategy tailored to your specific needs. We combine traditional and effective techniques to achieve optimal results. Our approach emphasizes:
- Prompt Action: We initiate swift action to maximize recovery potential.
- Personalized Attention: Each case receives individual care and attention.
- Transparent Communication: We keep you informed throughout the process.
- Ethical Practices: We adhere to strict ethical standards and legal regulations.
Why Choose Us?
- Proven Track Record: Our 37-year history speaks to our reliability and dedication.
- Client-Centric Focus: We prioritize your needs and satisfaction.
- Results-Oriented Approach: Our goal is to recover your debts efficiently.
- Strong Reputation: Our positive testimonials and recommendations are a testament to our dedication.
Don’t Let Unpaid Debts Burden Your Business
Take control of your finances and let us handle the complexities of debt collection. Contact us today for a free consultation. Together, we’ll reclaim what’s yours.
Protect Your Business from Unpaid Debts: A Preventive Approach
Posted on October 31, 2024 by Michael Lebovic
As a business owner, you’ve undoubtedly encountered the frustration of chasing down unpaid invoices. At Canadian Corporate Legal Services, we specialize in helping businesses like yours recover outstanding debts. While we’re here to assist you in the collection process, we also believe in proactive measures to prevent such issues from arising in the future.
Here are some strategies to minimize your risk of experiencing debt collection problems:
1. Diligent Client Screening:
- Gather Essential Information: Before extending credit, collect crucial information from your clients, such as their financial history, credit score, and references.
- Thorough Contract Review: Ensure your contracts are clear, concise, and legally sound. Include specific terms regarding payment schedules, late fees, and dispute resolution processes.
2. Effective Communication:
- Prompt Invoicing: Send invoices promptly and follow up regularly to remind clients of payment due dates.
- Clear Communication Channels: Maintain open and transparent communication with your clients. Address any concerns or questions promptly.
- Document Everything: Keep detailed records of all interactions with clients, including emails, phone calls, and text messages. These records can be invaluable in case of disputes.
3. Proactive Debt Collection:
- Early Intervention: If a client falls behind on payments, address the issue immediately. A timely intervention can often prevent the situation from escalating.
- Legal Action: If necessary, consult with a legal professional to explore options like filing a lawsuit or initiating a collections process.
By implementing these preventive measures, you can significantly reduce the likelihood of facing significant debt collection challenges. Remember, a proactive approach is often the most effective way to protect your business’s bottom line.
If you’re currently dealing with unpaid debts or want to learn more about preventive strategies, please don’t hesitate to contact our office. We’re here to help you navigate the complexities of debt collection and ensure your business’s financial health.
Your Debt, Our Mission
Posted on October 17, 2024 by Michael Lebovic
Are you struggling with overdue payments? At Canadian Corporate Legal Services, we’re committed to helping you reclaim what’s rightfully yours. As a law firm that specializes in debt collection, we understand that financial difficulties can be stressful and overwhelming. That’s why we’re here to provide personalized guidance and effective solutions.
Our team of experienced legal professionals is dedicated to delivering exceptional customer service. We believe in building strong relationships with our clients, taking the time to understand the unique circumstances of each case. By thoroughly analyzing your situation, we can develop tailored strategies to maximize your chances of successful debt collection.
Beyond recovering your debts, we’re passionate about educating our clients on how to prevent future financial challenges. Our team offers valuable insights and advice on debt management. By empowering you with knowledge, we aim to help you achieve long-term financial stability.
When you choose Canadian Corporate Legal Services, you can rest assured that your case will be handled with the utmost care and professionalism. We’re committed to providing results-oriented legal representation, while always prioritizing your satisfaction. Let us help you take back control of your financial future.
The Power of Consistency: Building Strong Business Systems for Debt Collection
Posted on September 26, 2024 by Michael Lebovic
In the world of debt collection, consistency is key. Establishing and maintaining efficient business systems and procedures can significantly impact your company’s success in recovering outstanding debts. For many of our clients, particularly business owners, having a reliable system in place can prevent financial crises and ensure their cash flow remains healthy.
By implementing robust debt collection processes, business owners can:
- Identify problems early: Regular monitoring of accounts receivable allows for timely intervention when debts become overdue, preventing situations from escalating.
- Streamline communication: Clear and consistent communication channels with debtors can expedite the collection process and improve customer satisfaction.
- Enhance efficiency: Automated systems can reduce manual tasks, freeing up time for more strategic activities and improving overall efficiency.
- Improve accuracy: Consistent procedures minimize errors and ensure accurate record-keeping, leading to better decision-making.
- Build trust: A reliable and efficient debt collection process can strengthen relationships with clients and instill confidence in the firm’s ability to recover debts.
It’s important to remember that the longer a debt remains unpaid, the more difficult it becomes to collect. By investing in strong business systems and procedures, you can proactively address debt collection issues, protect your business’s financial health, and maximize recovery rates.
Debt Collection: A Partnership for Success
Posted on September 05, 2024 by Michael Lebovic
At Canadian Corporate Legal Services, we understand that debt collection can be a stressful and overwhelming experience. Our team of experienced legal professionals is dedicated to providing personalized legal representation that delivers results. Whether you’re facing a significant debt or simply seeking guidance on how to avoid future financial challenges, we’re here to help.
Our approach to debt collection is rooted in a combination of strategic litigation and effective negotiation. We have a proven track record of success in court, where our people have successfully represented clients in various debt-related matters. However, we recognize the importance of reaching amicable settlements outside of the courtroom. By exploring alternative dispute resolution options, we can often help our clients achieve their goals more efficiently and cost-effectively.
Beyond legal representation, we prioritize client education. We believe that informed clients make better decisions. That’s why we take the time to explain the debt collection process, your rights and responsibilities, and how to avoid similar issues in the future. Our goal is to empower you to take control of your financial situation and make informed choices.
The effectiveness of our approach is evident in the many satisfied clients we’ve served over the past 37 years. Our positive reviews and recommendations speak to our commitment to high standards of service and performance.
If you’re facing debt collection challenges, don’t hesitate to contact us. We’re ready to partner with you to find a solution that works best for your situation.
Preventing Bad Debt: A Proactive Approach
Posted on August 15, 2024 by Michael Lebovic
Bad debt can be a significant drain on a business’s resources. While it’s inevitable that some debts will go unpaid, there are proactive steps businesses can take to minimize the risk.
Preventing Bad Debt Before It Starts
- Robust Credit Checks: Thoroughly vetting new clients is essential. This includes checking credit scores, payment history, and business stability. It might seem time-consuming, but a comprehensive credit check can save you from future headaches.
- Clear Contracts: Detailed contracts outlining payment terms, late fees, and collection procedures can deter non-payment. Ensure that the terms are clear and easily understandable.
- Effective Communication: Open and honest communication with clients is key. Address any concerns promptly and professionally. Regular updates on the status of services or products can help build trust and prevent misunderstandings.
Identifying Low-Risk Clients
- Established Businesses: Businesses with a proven track record are generally less likely to default on payments.
- Strong Financial Position: Clients with solid financial standing are more likely to honor their obligations.
- Positive Payment History: A history of timely payments with other creditors is a good indicator of future behavior.
- Industry Reputation: Researching a client’s industry reputation can provide valuable insights into their financial stability and business practices.
Maintaining Strong Client Relationships
- Excellent Customer Service: Providing exceptional customer service can foster loyalty and reduce the likelihood of disputes. Happy clients are more likely to pay on time.
- Prompt Invoicing: Timely invoicing ensures clients are aware of their obligations and reduces the risk of late payments.
- Clear Payment Options: Offering various payment options, such as online payments or payment plans, can improve collection rates.
- Early Intervention: Address potential payment issues as soon as they arise. Proactive communication can prevent problems from escalating.
By implementing these strategies, businesses can significantly reduce the risk of bad debt and improve their overall financial health. Remember, prevention is often the best cure when it comes to managing accounts receivable.
Disclaimer: This blog post is intended for general informational purposes only and does not constitute legal advice. It is essential to consult with legal services professionals for advice regarding specific legal matters.
37 Years of Fighting for Fair Business
Posted on July 31, 2024 by Michael Lebovic
For over three and a half decades, our legal service operation has been a trusted ally to businesses facing the daunting task of debt recovery. We understand the complexities of the modern business landscape and the challenges that arise when clients fail to pay. That’s why we’re committed to providing effective, efficient, and ethical debt collection solutions.
Our longevity in this field is a testament to our unwavering dedication to our clients. We’ve built strong partnerships with businesses across various industries by delivering results and providing exceptional service. Our team of experienced professionals is well-versed in the intricacies of debt recovery law and possesses a deep understanding of the strategies needed to secure outstanding payments.
Beyond debt collection, we believe in fostering long-term client success. Our proactive approach involves educating businesses on best practices to prevent debt from accruing in the first place. By implementing sound credit policies and efficient billing procedures, you can significantly reduce the likelihood of encountering payment issues.
We’re not just a law firm that specializes in debt collection; we’re your partners in business growth. Let us handle the complexities of debt recovery while you focus on what you do best. Contact us today to learn how we can help your business thrive.
Don’t Be Shy: Why Verifying Client Information is Key to Protecting Your Business
Posted on July 19, 2024 by Michael Lebovic
At Canadian Corporate Legal Services, we see many business owners hesitant to delve into a client’s financial background for fear of appearing unfriendly. But here’s the secret: a thorough credit check isn’t an insult, it’s professionalism.
In today’s economic climate, where cash flow issues are more common, taking steps to protect your business is crucial. Verifying critical information like credit history and references demonstrates good business practice and, in most cases, is well-received by clients. They understand the necessity of responsible credit extension.
Think of it as setting clear expectations from the start. By establishing your creditworthiness standards, you avoid potential financial headaches down the line. Don’t let the fear of a strained relationship prevent you from taking this crucial step.
Remember, a healthy business relationship is built on trust and transparency. By implementing a clear credit check process, you’re not just protecting yourself, you’re fostering a long-term, reliable partnership with your clients.
If you have questions about setting up a credit check process or need help collecting unpaid debts, contact Canadian Corporate Legal Services today. We’re here to help your business thrive.
Tightening Your Belt: Debt Collection in a Tough Economy
Posted on June 19, 2024 by Michael Lebovic
In today’s economic climate, where costs are rising and efficiency is paramount, staying on top of your credit and debt collection becomes even more critical for your business’s survival. Unpaid invoices can quickly eat away at your bottom line, hindering your ability to invest, grow, and stay competitive.
The key lies in vigilance. Before extending credit, carefully assess a client’s financial health. Determine a credit limit that aligns with their risk profile. Don’t underestimate the importance of monitoring a client’s ongoing financial stability. Watch for changes in payment patterns, late fees, or any red flags that might indicate trouble brewing.
The power of documentation is undeniable. Maintain thorough records of all transactions, contracts, and communication. This meticulous record-keeping becomes invaluable if you need to pursue legal action to recoup unpaid debts.
By being proactive in your credit and debt collection practices, you can significantly reduce the financial risks associated with bad debt. Don’t let outstanding invoices become a roadblock to your business’s success.
For a free consultation on how our debt collection professionals can help your business, contact Canadian Corporate Legal Services today.
Recovering Your Hard-Earned Money: Your Trusted Debt Collection Partner in the GTA
Posted on May 31, 2024 by Michael Lebovic
For over 37 years, Canadian Corporate Legal Services has been a go-to legal resource for businesses in the Greater Toronto Area (GTA) struggling with bad debt. We understand the significant impact unpaid invoices can have on your cash flow and business operations. That’s why we’re dedicated to helping you recover what’s rightfully yours.
**Experience You Can Count On:**
The GTA is a dynamic and diverse market. Our extensive experience working with businesses across various industries allows us to develop a nuanced understanding of the local debt collection landscape. We leverage this knowledge to tailor our approach to your specific situation, maximizing your chances of a successful outcome.
**Beyond the Courtroom:**
While we possess a strong track record in litigation, we prioritize resolving matters outside the courtroom whenever possible. This not only reduces expenses and saves you time, but also helps preserve potentially valuable business relationships. Our experienced team is adept at negotiation and alternative dispute resolution methods, ensuring a swift and cost-effective recovery process.
**Client-Centered Approach:**
At Canadian Corporate Legal Services, we believe in fostering strong partnerships with our clients. We take the time to understand your unique needs and concerns. Regular communication is key, and we’ll keep you informed throughout every step of the recovery process.
**Building Trust Through Results:**
Our commitment to client satisfaction is reflected in our many positive reviews. We’re proud of the reputation we’ve built as a reliable and results-oriented debt collection service in the GTA.
**Don’t Let Unpaid Invoices Hold You Back:**
If you’re facing bad debt, don’t hesitate to reach out. Contact Canadian Corporate Legal Services today for a free consultation. Let’s discuss a personalized strategy to recover your funds and get your business back on track.
Resolving Debt: A Smarter Approach Than Just Going to Court
Posted on May 15, 2024 by Michael Lebovic
At Canadian Corporate Legal Services, we understand the frustration of unpaid invoices. Recovering what’s owed to your business is essential, but navigating debt collection can feel overwhelming.
While we have a proven track record of success in court, we prioritize resolving matters outside the courtroom whenever possible. Here’s why:
Cost-Effective Solutions:
Court proceedings can be expensive, with attorney fees and court costs adding up quickly. Our team works diligently to find solutions that maximize collections while minimizing your expenses.
Timely Recovery:
Litigation can be a lengthy process. We explore faster resolution options to get you the funds you deserve sooner.
Preserving Relationships:
Sometimes, maintaining a positive working relationship with the debtor is still valuable. Our approach can help avoid burning bridges and potentially open doors for future business.
Each case is unique. Our 37 years of experience allow us to tailor a strategy specific to your situation. We consider factors like the size of the debt, the debtor’s financial situation, and your desired outcome.
Don’t let outstanding invoices hinder your business any longer. Contact Canadian Corporate Legal Services today for a free consultation. Let’s discuss the most effective way to recover your funds and protect your bottom line.
The Delicate Dance of Debt Collection: Protecting Your Business in Uncertain Times
Posted on May 06, 2024 by Michael Lebovic
In today’s dynamic economic landscape, ensuring timely payments is more crucial than ever for businesses of all sizes. Uncollected debt can significantly impact your cash flow, hindering growth and even threatening your business’s stability.
At Canadian Corporate Legal Services, we understand the delicate dance of debt collection. While recovering owed funds is essential, fostering positive relationships with debtors is equally important. Our team of experienced law professionals is adept at navigating this challenge.
We utilize a strategic approach that maximizes collections without resorting to aggressive tactics. We focus on clear communication, fair negotiation, and exploring solutions that benefit both your business and the debtor. This not only increases our success rate in recovering funds, but also minimizes the risk of damaging your hard-earned reputation.
Proactive Measures for a Healthy Bottom Line:
Beyond debt collection, we advise businesses on best practices for minimizing the risk of late payments in the first place. This might involve implementing stricter credit approval processes, establishing clear payment terms, and offering early-payment incentives.
Don’t Wait Until It’s Too Late:
Don’t let outstanding invoices become a burden on your business. If you’re facing unpaid debts, or want to implement preventative measures, contact Canadian Corporate Legal Services today. We offer a free consultation to discuss your specific situation and explore how our expertise can help you get paid and safeguard your financial future.
Why Debt Collection Matters More Than Ever in a High Interest Rate Environment
Posted on March 22, 2024 by Michael Lebovic
If you are a business owner, you know how important it is to manage your cash flow and credit effectively. However, in a high interest rate environment, this becomes even more crucial. Why? Because high interest rates mean higher costs of borrowing, higher risks of default, and lower profits for your business.
When your customers fail to pay their invoices on time, you are not only losing the money they owe you, but also the interest you could have earned or saved by investing or paying off your own debts. This can quickly erode your working capital and put your business in a precarious financial situation.
That is why you need to be diligent with your credit management and debt collection processes. You need to have clear credit policies, monitor your accounts receivable, and follow up with your customers promptly and professionally. You also need to know when to escalate the matter and seek external help.
This is where a debt collection service can make a difference. A debt collection service can help you recover your outstanding debts faster and more efficiently, while preserving your customer relationships and reputation. A debt collection service can also help you reduce your legal risks and costs, and free up your time and resources to focus on your core business activities.
However, not all debt collection services are created equal. You need to work with an experienced and trustworthy debt collection service that has a proven track record of success, follows ethical and legal standards, and offers customized solutions for your specific needs.
At Canadian Corporate Legal Services, we are committed to helping you achieve your financial goals and grow your business. We have over 37 years of experience in the debt collection industry, and we use the latest technology and best practices to deliver results. We work with businesses of all sizes and industries, and we tailor our services to suit your budget and requirements. Whether you need a friendly reminder, a firm demand, or a legal action, we have the expertise and resources to handle it for you.
Don’t let high interest rates ruin your business. Contact us today and let us help you recover your debts and improve your cash flow. We look forward to hearing from you.
How We Can Help You Recover Debt While Keeping Your Customers Happy
Posted on February 29, 2024 by Michael Lebovic
If you are a business owner, you know how challenging it can be to collect your debts from your customers. You want to get paid for your products or services, but you also want to maintain a good relationship with your customers and avoid damaging your reputation. You may feel frustrated, stressed, and helpless when your customers ignore your calls, emails, or letters, or make excuses or promises that they don’t keep.
That is why you need a professional and reliable debt collection service to help you with your debt recovery process. Debt collection professionals who can act as a third-party mediator between you and your customers, and use their expertise and experience to persuade your customers to pay their debts in a timely and respectful manner.
But not all debt collection services are the same. Some debt collection services may use aggressive or unethical tactics that can harm your customer relationships and your brand image. Some debt collection services may charge you high fees or hidden costs that can eat into your profits. Some debt collection services may have poor communication or customer service skills that can leave you in the dark about the status of your debts.
That is why you need a debt collection service that cares about your business and your customers. We at Canadian Corporate Legal Services have a good track record of helping clients recover their debts and preserve their customer relationships. We have a large number of testimonials and online reviews that reflect the satisfaction of our clients. We cannot guarantee successful debt collection, but the positive feedback from our clients reflects our capabilities.
We believe in contributing to the community by helping businesses run efficiently and maintain financial stability with adequate credit management and debt collection. Our many return clients are proof of our high standards of service. We offer the following benefits to our clients:
– We have a team of trained and licensed professionals who follow the best practices and legal standards of the industry. We treat your customers with respect and professionalism, and we use persuasive and diplomatic techniques to encourage them to pay their debts.
– We have a transparent and fair fee structure that correlates fees with the results we deliver. There are no hidden fees and the fee structure is fair and transparent.
– We have a state-of-the-art technology and system that allows us to track and manage your debts efficiently and securely. We provide you with regular updates and reports on the status of your debts.
– We have a friendly and helpful customer service team that is available to answer your questions and concerns. We value your feedback and suggestions, and we strive to improve our service quality and customer satisfaction.
Don’t let your debts ruin your business. Contact us today and let us help you recover your debts and keep your customers happy. We offer a free consultation and a no obligation quote. You have nothing to lose and everything to gain
How to Use a Credit Application to Keep Your Business Safe
Posted on January 17, 2024 by Michael Lebovic
Today, I want to cover a crucial step in managing you’re accounts receivable:
The importance of having your customers fill out a credit application.
I’m surprised how many of our clients still don’t take this step.
I know what you’re thinking, why do I need another step in my customer onboarding process?
The answer is you want to reduce losses due to delinquent accounts.”
“Credit applications are your first line of defense. By getting essential information upfront, you’re setting the stage for a better receivable picture.
A credit application collects data like
who are the owners of the company, their contact information, their banking information, their payment history & credit references, This information is vital. You can not only assess the creditworthiness of potential customers but this information will be very helpful should a collection problem arise.
Furthermore, you can also establish your terms. When is payment due, what’s the interest rate they will be charged if they are past due and maybe even insert a personal guarantee should you feel it’s warranted.
By knowing your customer’s financial health beforehand, you can tailor your credit terms and offer appropriate credit limits and payment terms that align with their capacity. The result? Fewer late payments and reduced delinquent accounts.”
Think of a credit application as a shield that helps protect your business against potential financial losses. It’s not just about denying credit; it’s about smart, informed lending that benefits both parties.”
It will help you make informed decisions, foster trust, and ultimately, lead to healthier business relationships. Don’t overlook this crucial step in safeguarding your business’s financial health.”
3 Common Mistakes That Lead to Bad Debts
Posted on December 17, 2023 by Michael Lebovic
As a business person, you want to offer your customers the best service possible, and sometimes that means extending credit to them. However, not all customers are reliable when it comes to paying their bills, and you may end up with bad debts that hurt your cash flow and profitability.
How can you avoid this situation? Here are three common mistakes that many businesses make when extending credit to their customers, and how to prevent them.
## 1. Not checking the customer’s credit history
Before you agree to extend credit to a customer, you should always check their credit history and consider checking their credit score. This will give you an idea of how likely they are to pay you back on time, and how much credit you can safely offer them.
You can use various tools and services to check the customer’s credit history, such as credit bureaus, trade references, bank statements, and financial reports. You should also ask the customer for their consent before you run a credit check on them.
## 2. Not having a clear credit policy
A credit policy is a set of rules and guidelines that define how you extend credit to your customers, how you collect payments, and how you deal with delinquent accounts. Having a clear credit policy can help you avoid confusion and disputes with your customers, and ensure that you get paid on time.
Your credit policy should include the following elements:
– The criteria for granting credit, such as the minimum credit score, the required documents, and the credit limit
– The terms and conditions of the credit, such as the interest rate, the payment schedule, the late fees, and the penalties
– The procedures for invoicing, sending reminders, and following up on overdue accounts
– The actions for recovering bad debts, such as hiring a debt collection agency, taking legal action, or writing off the debt
You should communicate your credit policy to your customers clearly and in writing, and have them sign a credit agreement before you extend credit to them.
## 3. Not monitoring the customer’s payment behavior
Even after you extend credit to a customer, you should not stop monitoring their payment behavior. You should keep track of their payment history, their current balance, and their credit utilization. This will help you identify any signs of financial trouble, such as late payments, bounced checks, or maxed-out credit.
If you notice any red flags, you should contact the customer immediately and try to resolve the issue. You may need to adjust the credit terms, offer a payment plan, or suspend the credit until the customer pays their outstanding balance.
By avoiding these three common mistakes, you can reduce the risk of bad debts and improve your cash flow and profitability. However, if you still encounter customers who refuse to pay their bills, you may need to hire a professional debt collection service to help you recover your money.
Debt collection professionals can help you save time and resources, and increase your chances of getting paid. They have the expertise and the tools to locate, contact, and negotiate with your delinquent customers, and to take legal action if necessary.
If you are looking for a reliable and reputable debt collection service, you have come to the right place. We have over 38 years of experience in helping businesses of all sizes and industries recover their bad debts.
Contact us today for a free consultation.
How to Limit the Risk of Credit Debt
Posted on December 01, 2023 by Michael Lebovic
Credit debt can be a serious problem for both individuals and businesses. If you are a business owner who offers credit to your customers, you may face the risk of not getting paid on time or at all. This can affect your cash flow, profitability, and reputation. To avoid this situation, here are some tips for limiting the risk of credit debt:
- Check the credit history of your customers. Before you extend credit to a new customer, you should do a background check on their credit history, payment habits, and financial stability. You can use a credit reporting agency or a business information service to get this information. This will help you assess the risk level of each customer and decide whether to grant them credit or not.
- Set clear terms and conditions for your credit. You should have a written agreement with your customers that specifies the terms and conditions of your credit, such as the credit limit, the interest rate, the due date, the late payment fees, and the consequences of defaulting. You should also communicate these terms and conditions clearly to your customers and make sure they understand and agree to them.
- Monitor your accounts receivable. You should keep track of your accounts receivable and follow up with your customers regularly. You should send invoices promptly, remind your customers of their payment obligations, and collect payments as soon as they are due. You should also identify any overdue or delinquent accounts and take appropriate actions to recover them.
- Hire a professional debt collection service. If you have tried everything and still cannot get your customers to pay their debts, you may need to hire a debt collection professional. Look for a service with a proven track record and superb customer service.
How to Choose a Law Office to Help With Your Debt Collection that Will Put Your Needs First
Posted on November 03, 2023 by Michael Lebovic
Are you struggling with debt collection? Are you tired of calling debtors with no real progress? If so, you’re not alone. Thousands of businesses across the country are dealing with the same issues. Fortunately, there are law offices that specialize in debt collection and can help you get things back on track.
But how do you choose the right law office for your needs? Here are some tips to help you make the right choice:
Look for a Law Office That Takes Time to Learn the Details of Your Case
Debt collection can be a complex process, and every case is unique. That’s why it’s important to choose a law office that takes the time to learn the details of your case. This will help ensure that you get the best possible outcome.
Choose a Law Office That Puts Your Needs First
When it comes to debt collection, there’s no one-size-fits-all solution. That’s why it’s important to choose a law office that puts your needs first. A good law office will take the time to understand your situation and work with you to find the best possible solution.
Find a Law Office That Believes in Helping their Clients Receive their Hard – Earned money from their Debtors
If you’re like most people in business, you work hard for your money. You shouldn’t have to suffer because of someone else’s mistakes. That’s why it’s important to choose a law office that believes in helping clients who work hard for their money. A good law office will fight for your rights and help you get the money you deserve.
In conclusion, choosing the right law office for your debt collection needs is important. By following these tips, you can find a law office that takes the time to learn the details of your case, puts your needs first, and really believes in helping clients getting back their hard – earned money. Good luck!
How to Find a Good Debt Collection Service
Posted on October 23, 2023 by Michael Lebovic
Need help collecting debt? Don’t know how to find the right people – professionals who will understand your unique situation and will have the expertise, the right approach, and the experience that will be most helpful and effective?
Here are key points to help you with your search:
1. **Experience**: Look for professionals who have been in the business for a while and have a proven track record of success. They should have the knowledge and expertise to handle your specific needs.
2. **Tailored Solutions**: A good debt collection service should be able to tailor its solutions to meet your specific needs. This means that they should be able to work with you to develop a customized plan that fits your unique situation.
3. **Communication**: Communication is key when it comes to debt collection. Good service providers should be able to communicate effectively with both you and your debtors. They should be able to keep you informed about the status of your accounts and provide regular updates.
4. **Transparency**: A good debt collection service should be transparent about their fees and processes. They should be upfront about their rates and any additional charges that may apply.
5. **Compliance**: Make sure that the professionals you choose are compliant with all relevant laws and regulations. This includes any state-specific regulations relevant to your location.
6. **Reputation**: Look for a debt collection service with a good reputation in the industry. Check online reviews and ask for references from other clients.
When choosing a debt collection service, it is important to find one that specializes in tailoring its solutions to its clients and preserving good work relations with debtors. By considering these factors, you can find professionals who will work with you to achieve your goals.
How to Collect Bad Debt Without Losing Your Customers
Posted on October 06, 2023 by Michael Lebovic
If you run a business, you know how frustrating it can be when your customers don’t pay their invoices on time. You need cash flow to keep things running smoothly, but you also don’t want to lose customers because of unpaid bills.
That’s why you want to consider working with collection professionals who specialize in preserving good relationships with debtors and have a high success rate at collecting bad debt. Professional who understand your industry and your customers’ needs, and use ethical and professional methods to recover your money.
At Canadian Corporate Legal Services we have 38 years of experience in helping businesses like yours collect their outstanding debts. We know how to communicate with your customers in a respectful and friendly manner, while still being firm and persistent. We also offer payment plans and options to help your customers settle their accounts.
We have a proven track record of collecting bad debt, with a high average recovery rate. Most of the work is done on a contingency basis, which means that you pay us a percentage of what we collect. No collection, no collection fee ( * there is a minimal administrative fee to open a file).
We also respect your privacy and confidentiality, and we comply with all the laws and regulations governing debt collection in Canada.
If you want to collect your bad debt without losing your customers, contact us today for a free consultation. We will review your situation and provide you with a customized solution that suits your needs and budget.
Don’t let bad debt ruin your business. Let us help you get your money back, while keeping your customers happy.
The Hidden Cost of Procrastination on Debt Collection
Posted on September 22, 2023 by Michael Lebovic
Today we’ll discuss an often overlooked cost that you may be paying for procrastinating on your debt collection responsibilities: Lost Opportunities.
When you’re up to your neck in chasing overdue accounts, you’re missing out
on chances to grow your business. Instead of focusing on more profitable
pursuits like marketing, R&D, or pursuing new ventures, you’re stuck running
after money that should already be in your pocket. This lost opportunity can
put a serious damper on your company’s long-term prospects.
I’ve seen it time and time again: businesses that take swift, decisive action on
past due accounts come out ahead. By tackling delinquent invoices head-on,
you can keep your cash flow healthy, minimize collection costs, cut down on
bad debt write-offs, maintain strong customer relationships, and stay focused
on what really matters—growing your business. Don’t let procrastination on
collections be the downfall of your hard-earned success.
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We hope that our posts help you feel more comfortable with the subject of debt collection. Let us know if you have any questions or if you need advice about a current debt collection issue.
Procrastinating on Collection Calls to Preserve the Relationship? You May Inadvertently Achieve the Opposite
Posted on September 08, 2023 by Michael Lebovic
Today we’ll discuss another reason why you should not procrastinate on those collection calls.
Customer Relations on the Rocks
Look, I get it: you want to keep your customers happy. But by letting overdue
accounts fester, you’re doing just the opposite. The tension and mistrust that
builds up can drive even your most loyal clients away—and with them, any
chance of future revenue. The key is to communicate promptly and clearly
about payment terms, so everyone’s on the same page.
Stay tuned for more reasons and good advice in our next post…
Procrastinating on Past Due Accounts Can Result in Massive Write Offs. Here is Why:
Posted on August 25, 2023 by Michael Lebovic
Today we’ll discuss another reason why you should not procrastinate on debt collection:
Mounting Bad Debt Write-Offs
It’s a sad fact: the older an outstanding invoice gets, the less likely it is that
you’ll ever see a dime of that money. By dilly-dallying on past due accounts,
you’re setting yourself up for a whole heap of bad debt that you’ll ultimately
have to write off. And as if that isn’t bad enough, this will also wreak havoc on
your credit rating, making it even harder to get financing when you need it
most.
In our next post we’ll continue to explore more reasons to act quickly and decisively on bad debt. And meanwhile, don’t hesitate to contact us for more ideas and information about debt collection.
More Reasons Why You Should Not Procrastinate On Past Due Accounts
Posted on August 18, 2023 by Michael Lebovic
In our previous post we talked about the importance of maintaining a strong cash flow, which means that you need to be alert and act decisively on past due accounts.
Today we’ll explore another reason to do so:
Skyrocketing Collection Costs
The longer you wait to collect on those overdue accounts, the more money
you’re flushing down the drain. You’ll need to hire more staff, bring in third-
parties to help you, or spend on new technology to get the job done—all of
which takes a hefty bite out of your profits.
Next time we’ll continue to explore more aspects of your business and how they can be negatively affected if you procrastinate on your collection responsibilities.
The Hard Truth: Why Procrastinating on Past Due Accounts is a Recipe
for Disaster
Posted on August 06, 2023 by Michael Lebovic
In the cutthroat world of business, maintaining a strong cash flow is the
lifeblood of any company. But when businesses drag their feet on collecting
overdue accounts, they’re playing with fire. As a no-nonsense collections
expert with years of experience under my belt, I’m here to give you the straight
talk on why it’s absolutely vital to act decisively when it comes to delinquent
invoices and the potential consequences that can follow if you don’t.
In the coming weeks, we’ll discuss five areas of your business that will be negatively affected if you’ll procrastinate on debt collection. Here is the first one:
- Cash Flow Catastrophe
When you let past due accounts linger, you’re effectively choking your own
cash flow. Without those payments coming in on time, you’ll soon find yourself
struggling to keep the lights on, pay your suppliers, or even invest in the
growth of your business. What follows is a downward spiral of debt and loans
that only make matters worse.
The next post will explore another important aspect of your business that will suffer if you’ll procrastinate.
Who Should I Choose? A Lawyer or a Paralegal?
Posted on July 28, 2023 by Michael Lebovic
If the matter involves a balance of $50,000.00 – $60,000.00 or less a paralegal specializing in collections
and/ or Small Claims Court can be very helpful. They may regularly deal with these type of cases and are
experienced and familiar with the Small Claims Court of various provinces that operate differently than
the Superior Court in many instances.
Last but not least paralegals will do the work for a fraction of what a law firm would charge which also
makes them much more user friendly in these situations.
If the matter involves balances above 50,000.00 – $60,000 ( The Ontario Small Claims Court monetary
limit is presently $35,000.00) you would be advised to find a lawyer that has collection experience to
help you.
Besides Paralegals and Collection Agencies, Who Else Can Help You Collect Debt?
Posted on July 18, 2023 by Michael Lebovic
In previous posts, we described the work of paralegals and collection agencies. Are there other legal entities that can help you collect debt?
Third Parties – Creditors will sometimes have factoring companies or someone they know or have a
relationship with call or write the debtor. This could be a friend, an accountant or maybe just someone
who is very experienced in business.
What can a third party do?
Not much unfortunately. If they are not a collection agency or part of the legal profession under the Law
Society they are not allowed to make collection calls or go to court for you. Not only that but it may
make matters harder when you finally do hire a paralegal or lawyer.
Next week: I have a collection problem – What do I choose? A lawyer or paralegal?
What Can a Paralegal or a Lawyer Do For You?
Posted on June 20, 2023 by Michael Lebovic
Paralegals and Lawyers are overseen by the Law Society of Ontario. Usually they do not make a lot of
calls for collection purposes or send out a lot of letters but they’ll send out a Legal Demand and proceed
with whatever legal action is needed to recover your delinquent, past due accounts and collect through
the courts what is owed you.
Collection practices that are experienced and do a lot of collections work will write and call the debtor
before taking any court action and make a determined attempt to resolve the matter. They will report
judgment debtors to Equifax & TransUnion while continuing to work and collect money owed you even
after the court renders a judgment in your favor.
Next time: who else can help with debt collection?
Wait for our next post to find out…
Collection Agency or A Law Office? The Discussion Continues
Posted on June 05, 2023 by Michael Lebovic
In our last post we discussed special features of collection agencies and we started to examine how they are different from law offices that specialize in collection. Let’s take a deeper look into the subject.
Collection agencies are companies specially licensed to contact debtors and are obliged to comply with
ministry rules. In Ontario they are regulated by the Collection Agency Act. Every one of the collection
staff that works for them has to be personally licensed under the Collection Agency Act.
How do they work?
They are allowed to reach out to debtors either by writing them or by phoning them and request
payment for past due invoices, but they have to follow the rules laid out in the Collection Agency Act.
They will also file a report with a credit reporting agency like Equifax or Trans Union .
What they can’t do?
They cannot file a claim in court or make an appearance in court for you. They cannot take any other
legal steps. When a file gets to the point where court is necessary to collect a debt they are obliged to
turn it over it to a lawyer or paralegal.
In our next post we’ll discuss how lawyers and paralegals can help you with debt collection.
Collection Agency or a Law Office? What’s the Difference? And Which One Should You Choose?
Posted on May 23, 2023 by Michael Lebovic
Continuing our discussion from the last post, does anyone hired to collect monies owed to you is a collection agency?
Well not necessarily, the person writing or calling a debtor can be a Collection Agency, or it might be a
Law Office (Lawyer or Paralegal) or a third party acting on behalf of the creditor.
How are they different?
Collection agencies are companies specially licensed to contact debtors and are obliged to comply with
ministry rules. In Ontario they are regulated by the Collection Agency Act. Every one of the collection
staff that works for them has to be personally licensed under the Collection Agency Act.
How do they work?
They are allowed to reach out to debtors either by writing them or by phoning them and request
payment for past due invoices, but they have to follow the rules laid out in the Collection Agency Act.
They will also file a report with a credit reporting agency like Equifax or Trans Union .
In our next post, we’ll discuss the work of a collection agency, and the unique capabilities of a law office that is specializing in debt collection. Hoping to see you soon…
What is a Collection Agency – Collection Term You Need to Know
Posted on May 01, 2023 by Michael Lebovic
As promised, we continue to educate our clients and the general public about important issues and terms related to the debt collection industry.
Today we’ll define a very basic yet extremely important term: collection agency.
When you look for a trusted collection professionals, it helps if you know what to look for.
Collection Agency. Everybody is familiar with this term right? They are the ones that call and ask you to
pay their client. So anyone hired to collect monies owed to you is a collection agency, right?
Well not necessarily, the person writing or calling a debtor can be a Collection Agency, or it might be a
Law Office (Lawyer or Paralegal) or a third party acting on behalf of the creditor.
What are the main differences, and which of these will be a better choice for you?
We’ll continue this discussion in our next post. Stay tuned….
Debt Collection Terms that You Should Know
Posted on April 14, 2023 by Michael Lebovic
Every week we will define and try to explain different terms that you might see as you make your way through the process of debt collection, accounts receivable and the Small Claims.
Many of these words will be familiar to some of you, or you may have heard them but are not sure
exactly what they mean.
Hopefully we get to all of them, one by one:
We’ll begin with the more familiar ones:
Creditor. Is the one owed money. If you have given your customer credit and have not been paid, you
are a creditor.
Debtor: If you owe someone money and haven’t paid them by the due date, you are a debtor.
How does a collection agency work? And how is it different from a law office specializing in debt collection? You’ll learn the answers to these questions in our next post.
To Prevent Debt Collection Issues: Start Doing These Things
Posted on April 02, 2023 by Michael Lebovic
- Give your client a quote in writing so there wont be any misunderstandings.
- Write up an agreement to at least cover important areas like:
The scope of the job to be performed or the service to be offered.
What, if any, is the timeline for the work or is there a deadline ?
What happens if there are extras asked for beyond the original request?
When and how will the client / customer pay you?
What if there is a cancellation? How will that unfold? - Keep an eye your accounts receivable and send reminders or statement of
account out to them at 60 and 75 days when the account’s past due. Let them
know that at 90 days delinquent accounts are sent to a 3 rd party if payment has
not been made.
How soon should you prepare for success in court?
Posted on March 20, 2023 by Michael Lebovic
I highly recommend avoiding going to court if you can.
But just in case a court action cannot be avoided you should be prepared.
How soon should you prepare?
Even before you know there is a problem.
By having the right intake and processing systems in place your job will be more than half done should you ever be in a situation where you have to file a claim in court.
Read this Before You Grant Credit to a Client
Posted on February 01, 2023 by Michael Lebovic
Before you grant credit to your clients take the following basic steps.
Do this even with current clients if you have not done it yet; especially if they have been paying you in cash.
Cash is good. They used to say cash is king but it could come back to bite you if that account that was so good for years suddenly goes sideways and you are owed monies.
Whether it is a company or your customer is a consumer:
- Get copies of photo ID (preferably two)
- Get their home as well as the business address.
Why do you need this? (they may ask)
Because if you give them credit you want to protect yourself.
Get a copy of a VOID check – it can be very useful down the road.
Lots of folks communicate by text now. It’s fast and It’s convenient. But it is not great should you have collection problems later on.
If you love text, use that by all means BUT use email for all the important stuff. For example: when you ask for payment. Scope of work or size of the order. Changes to orders or work. You get the idea.
And NEVER rely on just a phone call for anything important
Being careful with new clients / customers and the “gift” of cash
Posted on July 28, 2022 by Michael Lebovic
We all appreciate getting new business and we especially appreciate getting new clients. We might also
appreciate customers that pay in cash. That said, these days it is more important than ever to exercise
caution when extending credit.
If you have a cash and carry business or require paymen in advancet you can skip this post.
For those of us who are in a situation where we need to extend credit to stay competitive, I bring you
this tale of caution
One of our clients, a very busy manufacturer, had a new customer place a substantial order which they
then came to his premises to pick up. Everything went very smoothly, they paid for the order in cash and
took the material.
They were not asked to fill out a credit application nor to provide any further information then was
found in their email signature / letterhead.
Over the next 6 weeks they placed 6 more orders – all by email – which were filled and were to be
picked up when ready.
Though the orders were filled as they were received they were not picked up until the end of week 6
when the customer rushed in and took them all at oncebut did not pay for them, leaving a $25,000.00
balance.
With all of the activity in the warehouse no one noticed that this customer had no account set up.
Follow-up calls and emails went unanswered for months and our office had to be retained to collect the
monies owed.
Leaving aside the warehouse slip-up, what is needed with new clients is complete information on the
company, its principals, bank information and history.
At the end of the day a client should have a proven track record before you grant credit.
If you’re not comfortable granting credit you have the option of doing business on a COD basis or asking
for the owners to sign a personal guaranty.
How the system you set up can minimize collection problems
Posted on June 23, 2022 by Michael Lebovic
Getting new business, whether from an established client or a new customer, is the goal of every business, but how you process that business can mean the difference between growth and painful cashflow problems.
We all know what we need to do but we often get so busy that we start taking shortcuts that can come back to haunt us. Don’t allow customers to rush you into skipping steps that will not only protect you but your customer as well.
Take the following advice and you will avoid 90% of your collection problems
Step 1 – send a written quote
Step 2 – make sure your customer signs off on it or confirms approval in writing
Step 3- have a written agreement that nicludes these important basics:
a) Who are the parties
b) what is the scope of the work
c) what is the total cost before tax
d) if there is a deadline, what is it?
e) when and how does this have to be paid for?
f) what happens if payment is late? Will there be interest charged?
g) What happens if there’s a cancellation or a return?
h) is there a personal guarantor or indemnifier?
Step 4 – (if applicable ) ensure all changes and/or extras requested are confirmed in writing including
their additional costs .
Step 5 – Recap any problem that arises and their resolution in an email to your client / customer.
How soon should you prepare for success in court?
Posted on June 10, 2022 by Michael Lebovic
I highly recommend avoiding going to court if you can.
But just in case a court action cannot be avoided you should be prepared.
How soon should you prepare?
Even before you know there is a problem.
By having the right intake and processing systems in place your job will be more than half done should you ever be in a situation where you have to file a claim in court.
Important Step Before You File a Claim
Posted on May 30, 2022 by Michael Lebovic
A heads up to all of you consumers and business people who are owed money and have taken it upon themselves to start a court action on their own.
This is certainly the least expensive way to go from a dollar and cents point of view as long as you have got the time needed to invest in doing it properly. As the old expression says “the devil is in the details” and this is never truer than when you are drafting any kind of legal document or court claim.
Once again today I had to tell a prospective client that her judgment, which she finally obtained after much effort, was unenforceable because she did not have the proper name of the debtor on the judgment. It also explains why the judgment debtor has been ignoring her for almost four years.
So make sure you have the proper legal name of the company and that you have added any other parties that might be liable for your damages.
90% of your success in court lies in your preparation.
Planning To Sue? Learn These Terms First
Posted on November 01, 2018 by admin
Small Claims Court
Every province in Canada and state in the United States has a court like this set up for ..as the name implies, small claims of money. It is also a court where the rules are simplified so that the parties involved can represent themselves if they want to.
It is also known as a court of equity, meaning the main function of the judge is to look at doing what is fair in the eyes of the law even if not everything was done procedurally correct. Each side must bring evidence to support either their claim or defence but parties are given a fair bit of latitude when they haven’t followed all the rules of evidence or form of the court.
How much money can I claim for?
In Ontario, initially the limit was set at $500.00 but over the years it was raised to $3000.00, then $10,000.00 and now it is set at $25,000.00 . You can make claim for more than that but you would have to give up on the rest of the amount over the $25,000.00.
So if you are owed 30,000.00 and do not want to go through the expense of Superior Court, you can still file in the Small Claims Court and declare that you are “abandoning †the last 5,000.00
The limits in other jurisdictions vary. In British Columbia for instance it is $35,000.00. while In Alberta, it is now $50,000.00.
Jurisdiction – What does it mean?
Generally it means the power to make a legal decision or judgment on an issue. So as outlined above the Small Claims Court would not have jurisdiction over monetary claims of $45,000.00 or a landlord -tenant dispute.
A provincial Superior Court would have jurisdiction over many types matters but not over a Federal issue such as immigration. There are also criminal courts, tax courts, etc. You get the idea.
But In the area of collections, when we use the term jurisdiction we are referring not only to the court with the right jurisdiction but the right geographical area to file the claim in. ie; the proper jurisdiction.
Generally you must file the claim where the defendant resides or where the action arose – that is – where the event that gave rise to the debt occurred.
File in the wrong area and the court will reject your claim.
What if you are in Alberta and someone in Ontario owes you money? Legally the same rules apply, so why not just file in Alberta? After all, you’re already there. True, but often a court judgment has to be enforced because the defendant does not voluntarily comply with the court order and if you have a judgment from a court in Province or State A and your debtor resides in Province or State B you have a problem. Make sure to discuss this with your legal representative before you begin your court claim. There is nothing more frustrating than suing someone, getting a judgment finally and finding out it is not enforceable where the defendant either resides or has assets.
Planning To File a Claim? Learn These Words First
Posted on November 01, 2018 by admin
Plaintiff – The party initiating the legal action in court and looking for redress or more commonly money. Also referred to as the Complainant. This is the person or company doing the accusing.
Someone looking for redress or feels their rights have been violated is referred to a petitioner.
They will start the process by filing or having their legal representative file a court claim and having it served on the other side.
Defendant -The party against which the legal action has been initiated. They have to defend themselves. The term applies to private individuals or companies or institutions, there is no difference. In a criminal case this person would also be referred to as the accused.
A claim can be against one defendant or multiple defendants. Each one would have to file a defence if they want to avoid having a judgment entered against them.
Claim – After paying the court a fee this is the document prepared by the plaintiff that is filed with the court, laying out his or her case against the defendant.
The bare minimum necessary in a claim is :
Name address and Telephone contact for defendant
Exact amount you are seeking.
If it is a business to business claim, describe who the plaintiff is and what it does and do the same for the defendant.
For example: The plaintiff is a transport and shipping company registered in Ontario. The defendant is a manufacturer of furniture registered in Ontario.
Next describe in detail the facts that gave rise to the damages unpaid bill you are seeking payment for.
Attach whatever evidence you have to substantiate what you have stated and the amount you are claiming. If there is a provision for interest in your agreement you can ask for that too.
Defense – This of course is what the other side, the defendant will have to write up as a response to the claim and file with the court as well as serve a copy on the other side.
If the claim is unjustified state why this is so, and attach whatever documentation and evidence you have to substantiate your position. If you feel the claim is partially justified you have the option of proposing a payment for part of the claim and asking for the rest of it to be dismissed.
Member Affiliations
- Law Society of Upper Canada
- Qllective International
- Paralegal Society of Ontario
- Forwarders List of Attorneys
