Small Business Debt Collection Law Cheat Sheet
In your small business debt collection laws will eventually become important, as your debt grows and some clients do not pay.To collect small business debts legally, you must first send a written notice that collections have begun, within five days of first contacting the debtor for collections (for instance, within five days of calling on the telephone). The letter must include dispute instructions.Small Business Debt Collection Laws Forbidden Practices* Collect any amount beyond the actual debt, unless you really can do so legally.* Continue collections on a debt if the debtor has disputed the debt, unless you provide the debtor with written proof.* Continue contacting the debtor if within 30 days of first con...