Collections should not be viewed as the last resort in recovering accounts receivable before write-off.  Rather, collection is or should be an integral part of an accounts receivable management system where the clients’ accounts receivable staff works hand-in-hand with their collections legal professionals, their attorneys.

Attorney participation in the A/R management system should begin before the accounts are even created.  Busman & Busman has drafted and prepared Account / Credit Applications, Personal Guaranties, Invoice and Statement of Account forms which comply with applicable laws and establish the client’s rights to recovery of attorney fees, interest in excess of judgment rate, and selection of the forum where any disputes will be resolved.  Attorney participation in the A/R management system should also occur on an ongoing consultative basis when difficult customers, interstate transactions, and changes to the contract or orders are encountered, to avoid litigation, or if litigation is inevitable, to maximize the client’s prospects of successful recovery.

Attorney participation in the A/R management system should also take place as early as possible during a customer’s delinquency.  Rather than waiting months or years, when the “trail has become cold,” early legal intervention promotes the likelihood that the customer / debtor still has money when legal action is instituted and promptly concluded, and puts the client ahead of the pack of other creditors pursuing the same delinquent customer / debtor. 

Busman & Busman's attorneys are experienced and creative legal collection professionals who strive to be ahead of other collection attorneys by pursuing personal guarantors and successors of a failed business customer, or pursuing debtors in Bankruptcy Court through adversary proceedings and motions for relief from stay.

Busman & Busman's attorneys are experienced legal collection professionals who have practiced collection in Virginia State and Federal Courts for over 30 years, and who teach it to credit managers and other lawyers through customer A/R staff presentations and Bar Association seminars.  Make Busman & Busman a part of your A/R management system.