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3 Steps to Avoiding Late Payments

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Late-paying customers can be the bane of business owners. Attorney Nina Kaufman suggests three effective ways for getting customers to pay a timely and efficient way:

1. Bill regularly and timely. Don't be late sending invoices. Stay top-of-mind.
2. Follow up on invoices sooner rather than later. It's OK to follow up within a week or two of sending an invoice, Kaufman says.
3. Have a written agreement that includes collection terms. If a customer doesn't pay, you want to make sure you have legal grounds to collect the money that you're owed.

 

Nina L. Kaufman, Esq. is an award-winning New York City attorney, edutainer and author. Under her Ask The Business Lawyer brand, she reaches thousands of entrepreneurs and small business owners with her legal services, professional speaking, information products, and LexAppeal weekly ezine. She also writes the Making It Legal blog.

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