Debt Collection Help is LegalShield’s Most Popular Service

Small business owners turn to LegalShield for a variety of reasons, from contracts and paperwork questions to landlord-tenant disputes and representation when hiring or firing an employee. But Wyatt said the top reason he sees clients joining is for help with debt collection.

“For businesses that are predominantly an accounts payable shop — think of doctors, dentists, lawyers, or chiropractors — as soon as they go out to a collection firm, the clock starts running,” he said. “Every 15 or 30 days that lapse, they lose 10 or 15 cents on the dollar. Letters from lawyers tend to motivate people and get great responses.”

                        Tolbert E Wyatt

Noted LegalShield Independent Associate.

LegalShield accounts are available in all 50 states and four Canadian provinces, with plans based on the number of employees a business has. The lowest tier, for small businesses with 10 or fewer employees, runs $39 per month in most states, with some variance depending on location. Businesses with 50 or fewer employees average around $89 per month and medium-sized firms with 100 or fewer employees can join plans that average $149 a month.

Each plan includes a predetermined number of calls or letters executed on a client’s behalf each year as well as allotted numbers of collection letters and document reviews.

“One of the worst things a small business owner who is faced with lots of legal documents can do is try to do it themselves or just pen the contract without review,” Wyatt said. “Never sign or jump into something without knowing what you’re getting into. That can make or break a business from the start.”