More than likely, when you started your business here in Maryland, you expected it to be profitable and enjoy a steady stream of income. You provide a product or service to your clients and expect to be paid for it in return. Sometimes, however, clients fail to pay for the goods or services you provide despite your repeated requests. At some point, business debt collection efforts may need to involve legal action.
It only makes sense that no business can adequately function without money coming into it. When customers fail to pay your business what it is owed, the ability of your business to grow and succeed is in jeopardy. The larger the unpaid debt is, the more likely it is that your efforts to collect the debt without legal action will fail.
Involving an attorney in the process provides additional collection options such as filing a lawsuit. Sometimes, customers or clients will say they are not paying because of some product defect, deficient service or a multitude of other reasons. Involving the court will get to the heart of the matter. Obtaining a judgment for the money you are owed is the beginning of the legal debt collection process. Legal remedies also exist to enforce that judgment once it is entered.
Depending on your situation, an attorney can determine the best business debt collection plan for you. In some cases, mediation or arbitration is enough to resolve the issue, but on occasion, it is necessary to go to the Maryland courts for relief. No business owner wants to destroy a relationship with a customer or client, but that relationship was already damaged from the moment that customer or client refused to pay your business the money it is owed.