Why Consumer Debt is the Biggest Threat to Your Business

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If you’re a business owner then you likely feel besieged at all times, from all sides, by threats to the organization you’ve crafted and cared for. None of these threats should be discounted, yet some of these threats are more dangerous than others. It’s natural to feel your direct competition, or changing technology, is the biggest threat to your business. But ultimately the biggest threat to your business is consumer debt.

Consumer debt threatens your business in a variety of ways. From a “big picture” viewpoint consumer debt threatens your business because it threatens the larger economy which you operate within. High levels of consumer debt lead to unstable economic conditions, which lead to conservative policies within banks, the same banks whose loans you rely on to expand your business.

Taking the scale of the discussion down a notch, consumer debt is also dangerous to your business because large-scale consumer debt can reduce consumer purchases of goods and services, including your own. After consumers reach a certain level of debt they simply stop buying non-essentials, and this is especially true during hard economic times where lots of people are either out of work or have had to take on pay cuts.

But on a more 1-to-1 level, consumer debt is an incredible threat to your business if you allow your consumers to open up lines of credit with your company. It might sound like a good idea to open up lines of credit with your customers, doing so provides you with both the initial sale and the miracle of compound interest, but what happens when your customers stop paying that debt? What happens when they default on the debt they accrued with your organization?

Small Business Collections - How Collection Efforts can Benefit Small Businesses

There are all types of debt collection claims that can be handled by the office of Ross Gelfand. If you have a small business, sometimes these are the most difficult types of collections to be reimbursed on. With today’s economy, it is harder to collect unpaid balances, but at the office of Ross Gelfand has found a way to make it easier by offering services for commercial, rental, medical, and skip tracing services. What the help of their office they can help small businesses collect the money that is owed to them. They have a team of experts waiting to answer any type of questions that you may have. 

Unfortunately, most small business will one day have a situation with collections. At first, you may not realize how much revenue you may be losing every day. The law office of Ross Gelfand has done a remarkable job recovering some of the lost currency. They offer many different types of services. They can help you handle a vast variety of small business situations and business collections services. They can handle everything from a commercial lease to a contract on the building. Sometimes the most difficult situations may be insurance subrogation but this office will always rise to the occasion, and succeed to help you get the benefits you have deserved. They provide telecommunications and high technology on your behalf to get you the best return possible within your legal rights. 

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By having the ability to collect some revenue on your behalf your small business can start to thrive. Your small business will be likely to succeed even more because you can reinvest your own hard earned money back into your business. There has never been a more dedicated law firm, then Ross Gelfand to help the small company. It may be just a few dollars here and there, but those few dollars add up. With today’s economy, every little bit helps, and before you realize the money that is owed to you the figure could be in the thousands. Ross Gelfand has the experience and the knowledge to help you collect everything that is owed to you. The law offices of Ross Gelfand work within the legal guidelines of several different states. They will do all the necessary paperwork, phone calls, and follow-up on your behalf so that you, as a small business owner, will have one less thing to worry about.

Post - Judgment Phase Collections

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At some point, as a small business owner, everyone faces the problem of collection.  You have tried to collect the money yourself, but have been unsuccessful.  You hired the Law Offices of Ross Gelfand, and they did their job.  Very professionally, they made the phone calls, sent the letters out, and actively pursued the pre-judgment phase of debt collection process on your behalf.  If these efforts have been to no avail, what is there left to do next?

At the Law Offices of Ross Gelfand, they know their job is not finished.  Once they have the judgment, even more work will need to be done.   Ross Gelfand understands that even with this piece of paper from the court some people still will not pay you, the small business owner.  If an individual had every intention of trying to make restitution, they would probably have never let it lead to the court system.  They would have made simple payments until the balance was paid in full.  At the law offices of Ross Gelfand, they understand the way some individuals think.

The Law Offices of Ross Gelfand is skilled and knowledgeable, and they know how the debt can be collected after the time of judgment.  They investigate where the one who owes the judgment may be employed.  The name of the bank account being used by the debtor will be discovered.  The Law Offices of Ross Gelfand will take legal action on the behalf of the small-business owner to collect the money that is owed.  They may be able to do this by withdrawing the funds directly from the bank account of the debtor where funds are held.  They may have to garnish the individual’s wages until the balance is paid off.  They will do everything in their power to ensure that you, as a small business owner, will receive the money that is due to you.  They understand that everyone does work hard for a living, and sometimes individuals get themselves into a situation where they cannot pay their debt off. The office of Ross Gelfand is willing to work with individuals and will always do so in a professional manner so as not to embarrass anyone involved.

You need to understand the judgment does not guarantee payment.  A judgment simply grants you the ability to try to get the judgment enforced.  The Law Offices of Ross Gelfand are experts in judgment recovery.