Negotiation of Business Related Collections
Negotiation can be an art form. With the right access to legal advice and guidance, you can have the legal support you may need to seek resolution of business-related debts.
Here are things you may need related to debt settlement negotiations:
- The circumstances causing the debtor to default on their obligation
- An appropriate opening offer and your bottom line number
- The broader terms and conditions of the settlement agreement
- What paperwork you should have the debtor sign after a successful negotiation
Negotiation strategy may be different for each debtor you deal with. Rather than stress and guess, join LegalShield and a provider attorney can advise you on the best course of action and help you with the debt negotiation process.
What Terms Should You Consider When Attempting to Settle?
There are several factors that you can weigh to determine the financial numbers and other terms upon which you’re willing to settle.
- Does the debtor owe you for a physical product or for services rendered?
- Have you fully or only partially delivered under the terms of your agreement?
- What were the hard costs to deliver the product or service?
- What is the nature of your relationship with the debtor? Do you want it to continue?
Consulting with an attorney experienced in debt negotiation is a great way to get clear about what may represent an acceptable settlement. Also, with a LegalShield membership, you can have your provider attorney help you draft the appropriate settlement paperwork.
Have an Attorney Negotiate a Debt Dispute for You
Keeping a cool head when you’re in the middle of a dispute over money is not easy. That said, remaining calm and being reasonable is essential for a positive outcome.
Whether your business is owed money or another entity is claiming you owe them money, having an attorney handle the matter can not only help with negotiations, it can reduce your stress.
If you join LegalShield, you can be on the phone with a provider attorney in as little as 4 hours. If appropriate, your attorney can write a letter or make a call on your behalf to seek resolution of the situation for you at no additional cost.
How a LegalShield Small Business Plan Works for Debt Negotiation
Your business pays a small monthly fee starting at $39.00 per month and gets legal advice, document review and attorney representation services you can use to negotiate and settle debt disputes faster.
Key Features of Our Small Business Legal Plans
LegalShield’s business plans can help you in the following areas.
Speak with your provider attorney on an unlimited number of business legal issues. One hour of legal research on each matter is included at no additional charge.
Your provider attorney can make phone calls or write letters on your behalf. Depending on the type of plan, a designated number of debt collection letters are included each month at no additional charge.
Have your provider attorney review documents and contracts up to 15 pages each. Preparation of documents is provided under the preferred member discount.
Your provider attorney can defend your business in covered civil lawsuits. Depending on the type of plan, a designated number of pre-trial hours and trial hours are included at no additional charge.