1297. #TFCP - Legal Lifelines for Freight: What to Do When You’re Owed Money!
Description
How are you tracking payments in your business? Are you confident your cash flow systems protect you from delays, fraud, or double brokering? Tune in today with our guests, Cristina Belaval of Freight Collection Solutions Law Group and Janie Mae Howerton of Profit 4 Growth!
Cristina and Janie Mae break down best practices for payment collection, why early intervention is the key to keeping your transportation business healthy, using AR Aging Detail Reports, QuickBooks, and TMS systems to stay on top of receivables, plus when and how to step in with calls, documentation, and attorney support if payments stretch past 60-90 days.
We also discuss fraud prevention, from spotting red flags in load documentation to checking broker bonds, how contracts can protect your business assets, options for small carriers, such as working with collection companies or local small claims courts, and the significance of monthly legal consultations.
At the end of the day, running a freight business means wearing the CEO hat, managing cash flow, protecting assets, and understanding that we run the economy, so we deserve to get paid for the work we do. Stay tuned!
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