'Time Bomb'
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Yeah, what ND said. And I'm not bristling at you, ita !, but at the writer.
It's just...mine's not a hobby, and I would love to have money laying around for legal fees, really, and it's a sensible thing to build into a budget -- but it's just SO not feasible right now. And isn't for SO many small business owners. Most, I'd reckon, especially young, new businesses.
...and x-post with amych!
Freelancer Twin powers ACTIVATE!
Form Of... AN OUTSTANDING INVOICE!!
Heh.
I don't have any outstanding, yet. I've just got some stuff lined up that won't come in for a while.
I HAVE had a client who didn't pay me for 3 weeks. It was a $40 payment. I was like, UM -- PAY ME. Due date means due date; I gotta eat, you!
There are always the occasional people that are deadbeats on payments. Honestly for most of them unless it is a very large amount I'd spend more in legal fees to get the money that to just write off the loss.
So is it good advice or not? I get that there's hot button language, but it seems to me to be a couple steps behind accountant on the taking precautions list.
I HAVE had a client who didn't pay me for 3 weeks.
Whenever I freelance, I assume someone has 30 days to pay. That used to be standard, and I always wanted to build in time *without* the money than expecting it right away.
ita !, considering the guy giving the advice is a lawyer, he isn't exactly a disinterested adviser. I always consider the biases of any source when it comes to recommendations, business or otherwise.
This was one of my first "I don't know you at all" clients. It was a $40, I'd stated clearly in emails payment upon completion, the contract stated payment upon completion, and she had been a PITA and wanted me to do multiple revisions when it was stated clearly that 1 revision was included in the $40 (that's my general per/hourly for the kind of write-up she needed then.)
I didn't get acknowledgement she'd received the deliverable; emailed to make sure. No response for a week; sent query about her getting the copy and sent invoice reminder. Nothing. One more week; reminder. Nothing. 3rd week; reminder and cut and paste of contract wording.
Got paid that day. Never a word from her again.
Revised my contracts to get a 50% down payment before I start work now.
And yeah, I work with clients on due dates, and most all my clients have been crazy-prompt, since I use PayPal for most jobs. BUT. She taught me a lesson.
I get not-paid often. Or at least I used to. But in my case, I don't think a lawyer would help because you can't get blood from a stone.
I think the legal advice is good-if it happens enough to justify the cost AND if your clients can but won't pay. I think a good lawyer would likely charge $200-500 for a letter telling someone to pay or else. So it had better be a big bill they owe.
Some clients owe me $2000-3000, but it's just not worth it to fight them. I just insist on payment up front now.