Economic Woes Highlight Importance of Quality Collection Practices
On September 26, 2008
By Scott Wolfe Jr
| Email This |  Comments |
 Print
|
 Trackbacks |
Some have warned that we are facing an "economic pearl harbor," while others have cautioned Americans to avoid panic.
From a legal perspective, it seems clear that while the economic situations may not turn small business owners upside down, we are facing a time where cash flow is tight and accounts receivables should be kept as low as possible.
We have previously written about the importance of good collection practices in avoiding high accounts receivables and noncollectable – you can read these articles here. As clients and customers are becoming slower and slower in paying their bills, and credit is tight, it’s now more important than ever for your business to have good collection procedures.
Wolfe Law Group has published as "Collections Toolkit" for contractors that discusses collection laws relevant to the industry, information on filing construction liens and even form letters and templates to use in your accounting department.
See a preview of the book here: http://www.lulu.com/content/3854624
Purchase a copy of the book in ebook ($69) or print ($139) format here:
http://www.lulu.com/wolfelaw
About the Author: Scott Wolfe Jr
Scott Wolfe, Jr. obtained his J.D. degree from Loyola University of New Orleans, and his B.A. from Southern Methodist University in Dallas, TX. In 2006, 2007, 2008 and 2009, Scott was recognized as a Leader in Law by CityBusiness Magazine. The son and grandson of general contractors, Scott is a construction litigator in the Pacific Northwest, and the founding member of the bi-coastal law firm, Wolfe Law Group. Scott is also the founder and CEO of Express Lien, Inc., a legal document preparation service for contractors. In 2008, City Business Magazine recognized Scott as one of its Innovators of the Year for the Express Lien concept. As an entrepreneur himself, Scott has a strong background in business and commercial transactions and laws. He focuses his practice on the legal issues facing the construction industry, and has represented clients in multi-million dollar construction disputes in litigation and alternative dispute resolution proceedings. Scott is a LEED AP.
