8 May, 2020 – Houston, TX – As the COVID-19 pandemic evolves, many businesses have questions concerning how they can continue to operate as accounts go unpaid, and employees are furloughed or laid off in record numbers.
While methods of pursuing commercial collections may be murky, the team at Alexander, Miller & Associates, a top-rated collections agency in Houston, Texas, is helping businesses find clearer waters with a guide of best practices. Useful until the environment clears, these effective practices empower businesses to decide when to consider suspending collections, when to contact clients, and when to plan for the long-term.
Alexander, Miller & Associates is recommending businesses take an introspective look at one’s debtor relationships when choosing how to navigate COVID-19, such as whether or how to collect debts within the present circumstances. Businesses should consult state regulations that dictate operation policies under statewide or federal states of emergency, particularly within essential and non-essential business designations.
From then, businesses should employ case-by-case analysis to protect debtor and business interests. A professional collections agency familiar with one’s case will able to advise in some cases. Still, if one is just now attempting to collect or to hire an agency, they must look at facts carefully to determine whether a client will be able to pay, and if not, what happens to their money.
“Attempts to collect may strain relationships, so businesses must be proactive to safeguard their professional relationships and reputations with cultivated lines of communications,” remarked Mark Miller of Alexander, Miller & Associates. “Possible solutions include temporary debt relief, in the form of smaller or delayed payments, while keeping communication open and clear. Businesses should touch base with everybody they are working with, including those that owe money, to see how things stand.”
As the COVID-19 pandemic moves on, businesses must plan for the debt collections of the future and must look at processes before the pandemic, analyze interim measures, and develop new, solid plans of action to keep in contact with business partners and adapt to the latest financial and health crises. Together, these measures can ensure everyone gets back to good business that includes paying bills and getting paid.
To learn a full article by Alexander, Miller & Associates on collections and COVID-19, please click here.
About Alexander, Miller & Associates LLC
Alexander, Miller & Associates is a top-rated Houston collections agency with diverse financial services that fast track commercial collections and on-site investigations for businesses of all sizes. Assisting in getting businesses paid before the need for lengthy and costly lawsuits, Alexander, Miller & Associates uses its extensive experience in debt collection, locally and nationally, to deliver trusted service and efficient results.
To learn more, please visit AMAFirm.com.
Company Name: Mike Miller
Contact Person: Alexander, Miller & Associates LLC
Email: Send Email
Address:7710-T Cherry Park Dr. Suite 120
State: TX 77095
Country: United States