As a small business owner, you count on your clients paying you the money that they owe to you. You need them to pay their bills so you have money on which to operate your business.
However, you cannot control the actions of your clients or whether or not they will actually pay what they owe. Instead, you can invest in protection like accounts receivable insurance coverage to secure funds if or when your clients fail to pay their financial obligations to your business.
Payment for Defaulted Accounts
When you have this protection in place, you can get cash for accounts that your clients failed to pay. In fact, if they file for bankruptcy, they force your business to write off their debts entirely. There is no way that you can collect on the bills that these clients owe you, particularly during the bankruptcy federal stay.
However, this does not mean that you cannot recover that money at all. When you have this coverage in place, you can make a claim against the policy. You can get that claim paid out to your business and get the cash that you need for running your business.
This policy can also pay if clients die and do not leave money in their estates to settle their accounts with your business. You can recoup that cash from the policy.
Find out more about accounts receivable insurance coverage online. Contact Trade Risk Group at https://www.traderiskgroup.com/contact-us/
