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Massachusetts debt collection laws: What do business owners need to know?

Collections Law

Cohen & Associates LLC, our commercial collections lawyers have more than 50 years of combined experience. They have dedicated their practice to collecting commercial debts in Massachusetts. By knowing and understanding the laws, business owners can use these laws to help them collect unpaid debts.

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Business Debt Collection Laws and their Connection to Commercial Debt

Debt RR

Like the Fair Debt Collection Practices Act, the U.S. business debt collection laws are regulations that safeguard businesses in commercial debt from harsh debt recovery practices by creditors and debt collection agencies. It specifically applies to personal and household debts.

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Late payments still afflicting businesses: why debt recovery should be taken seriously

CSA

Governments of all complexions have attempted to improve this situation ? Collections specialists will typically investigate the status of the debt and establish, for example, if a customer is late in paying because they have a particular business problem themselves, such as awaiting a government loan or public sector payment.

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Who Should Use Commercial Debt (B2B) Collections?

Credit Management Company

After speaking with colleagues, you were told about the possibility of commercial debt collection agencies taking over. This is known as business-to-business debt, these firms specialize in debt recovery owed by businesses. This type of debt collection can be hard to understand at first.

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The State of Small Business Debt in 2024: Insights from Global Data

Burt and Associates

Businesses should explore government-backed loan programs or invoice financing as alternatives to high-interest borrowing. High Levels of Unpaid Invoices According to the Findex report , overdue invoices are a leading cause of business debt : 80% of small businesses experience late payments.