Work At Home - Be Ready To Sue Your Client?

If you work at home, it is not uncommon to face challenges. Oftentimes it is necessary to call upon a debt collection agency for help collecting money that is owed. However, if companies take a stance of prevention, they may not need to use the assistance of a third party collections agency. Knowing the client or customer can be extremely useful for filtering out potential problems.

First, a business should figure out the full legal name of the client that it wants to do business with. The business structure should be known. Is it a corporation or a partnership? The names, titles and addresses of the principal members should be collected.

It is key to find out the federal employer tax identification number. The telephone number, ship to address, name, fax number and email address of the main contact should be established as well. Also, the bill to address, fax number and telephone number of the accounts payable contact is a useful piece of information to know. Individuals authorized to submit orders should be listed.

Inquire about the bank references. What is the name of the bank? The branch address, fax and telephone numbers, account types, account numbers and dates opened can be useful information. The name of the bank representative should be collected also.

Finally, the terms and conditions of sale should be acknowledged and accepted by the client's signature. The customer's signature, printed name, date of signing and title should be collected, and always have the company's lawyer look over any documents before use.

Know the customer's credit history and keep good communication via phone calls or personal visits. Keep a timely delivery of goods and services, and up to date records and accounts receivable information. Send out memos and letters to remind the client about the money owed and keep them up to date.

Join an industry credit group and participate actively. It is crucial to know the laws in the state that the company is in regarding collections and business proposals. To protect the company, it is crucial to collect references. Bank references, including the bank name, branch, account type, account number and trade references are important to know. Collect three trade references at least that include the name, address, telephone number and email addresses.

It goes without saying that taking such measures against a client is only a last resort. Nonetheless, when you work at home, you need to be paid for your time. Thus, if you are owned money, you must collect it.

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