Milwaukee Debtor and Creditor Lawyer

Receivables Management

Overseeing receivables management to ensure maximum recovery, minimum delay, and accurate record-keeping is a valuable, though underrated, task in business.

Effective collection efforts start with a strong receivables management system. Maintaining accurate, detailed records that are consistently monitored is crucial to understanding the organization’s cash flow and identifying potential problem areas. Collaborating with our experienced legal advisors—who possess comprehensive expertise in all aspects of creditor-related matters—can greatly enhance the quality, efficiency, and cost-effectiveness of creditor representation. KMK’s Collection Department attorneys bring decades of specialized knowledge in the field of receivables management, helping businesses implement the processes and procedures that influence their financial health today, tomorrow, and well into the future. Typical areas of consultation include:

Credit applications and invoice forms and procedures;
Protection and liquidation of commercial accounts receivables;
Standard terms and conditions and procedures for their utilization;
Distributor and supplier agreements;
Promissory notes;
Corporate and personal guarantees;
Best practices in electronic contracts and e-commerce;
Collateralization of account balances to secure past, present and/or future debts;
Designing an efficient program for in-house commercial collections efforts, and pairing it successfully with the efforts of outside counsel when in-house collection is unsuccessful;
Navigating venue and alternative dispute resolution provisions to minimize cost and avoid collateral litigation;
Workout services ranging from implementing arrangements for the liquidation of the account balance and termination of the customer account to implementing arrangements to enable the client to reduce credit exposure while continuing to sell goods or services to the customer; and
Pre-bankruptcy or pre-receivership planning to put the account into a posture to reduce the account balance and minimize exposure to avoidable preference or other avoidance claims.

Bankruptcy

Bankruptcy and other defaults impact the rights of creditors in a nuanced way.

The filing of a bankruptcy petition automatically triggers special protections and requirements for debtors, which can complicate a creditor’s efforts to enforce their rights. KMK’s Business & Financial Services Group attorneys bring extensive experience in creditors’ rights and bankruptcy matters, guiding clients through the complex civil and bankruptcy processes. We take the time to understand our clients’ concerns, thoroughly assess the situation, and recommend the most appropriate course of action aligned with their goals—while clearly outlining the strengths and risks involved.

Our systems are designed to monitor critical deadlines and navigate the nuances of the judicial system, including specialized local rules, personnel changes, and common obstacles in both state and federal proceedings. Crucially, our case management tools are regularly reviewed and refined to incorporate the latest technological and procedural advancements, ensuring we remain at the forefront of efficiency and effectiveness.

Additionally, our team includes attorneys Board Certified in Business Bankruptcy Law and Creditors’ Rights Law by the American Board of Certification. Many of our lawyers have also been recognized as Wisconsin “Super Lawyers” by Super Lawyers magazine and listed among the “Best Lawyers in America” by Best Lawyers in Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law.

Time is money. We look forward to showing how any business can benefit from our deep expertise in creditors’ rights.