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Previous: Plug these holes in your bank account by Janet Attard Are you fuming mad and ready to sue because an employee quit to start their own competing business and stole your customer list and spirited away a couple of your employees? Did one of the clients for your temporary employment service hire one of your temps - without paying the required fee? Are you spitting mad and about to call your attorney because the company that had signed a contract to buy 5000 widgets a month from you, outsourced production overseas and reneged on their contract after you had invested in the equipment to meet their quantity needs? Before you pick up the phone, consider this: in many small business law suits, no matter who's right and who's wrong, no matter what the outcome, the only people who really win are the attorneys for both sides. Among the reasons: court costs and legal fees are likely to be much higher than you'd imagine and your opponent may have a lot less money than you suspect. So, if a law really was broken, and if you provide sufficient evidence to win your case, you may not even recover enough in damages to pay your legal fees. Before you proceed with any legal action, ask your attorney what costs are typically incurred in cases like yours. Ask what typical outcomes are. And try to determine if the person or company you are suing has the financial means to pay, if you win. Once you have all the numbers you may find that letting the issue go and moving on in your business is the best way to proceed. More: 5 Tips to Manage Litigation Costs Posted by Janet Attard on January 11, 2008 at 8:44 AM | Comments (3)Comments Another way to avoid excessive costs are to place the matter with a collection agency who can demand payment on your behalf, if it's a matter of money being owed to you, breech of contract etc. Most collection agencies work on a contingent arrangement so if nothing is collected you don't pay a dime.In addition there are many attorneys out there who work on a contingent arrangement as well. Be sure to do your research before hiring a collectio agency or attorney. Taking the extra few days to find someone who will be honest with you about recovery can make all the difference in the world. Posted by: Jan Conte on January 11, 2008 at 11:20 AM It's true that before you are going to sue your opponent you must consider the aforementioned reasons,,,and besides who are suffering after that case? i guess,, you given us an idea on how to deal more securely to our investors/customers and most especially to our employees.... i really appreciate it... Keep it up and may God bless u always.... Posted by: michael on January 20, 2008 at 6:43 AM |
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Disclaimer
The information compiled on this site is
Copyright 1999-2008 by Attard Communications, Inc. and by the individual authors. |
Janet,
I truly agree with your comments. A law firm is not always the cure all for past due invoices or broken contractural agreements.The legal fees and long waits for court dates may not be cost effective.As the owner of Morgan & Curtis Associates, a nationwide collection agency,we have helped many companies recover monies for breach of contracts and non paid invoices.
My suggestion is to try a reputable collection agency first. Most agencies like ours work on a contingency fee basis. There is no charge unless we recover money. I enjoy your articles.
Russell Sessler
1-800-933-8710
Posted by: Russell Sessler on January 11, 2008 at 11:14 AM