Accurate and Updated Debtor Contact Information

Depending on the circumstances and applicable laws, creditors and creditor attorneys may want to initiate contact with the debtor through multiple forms of communications.  As such, collecting and maintaining accurate and updated contact information, whether for another business or a personal guarantor, could be the difference between being paid and not paid or being paid more quickly than you otherwise would.  Businesses that extend credit can expressly require debtors to advise of any changes in contact information, and should seek information such as email addresses and secondary contact information