Tim,
We've been on them since May to bring accounts up to date so this isn't the first we've discussed this, either internally or with them.
Also..I should point out that up until about Feb. or March they paid on-time. So when bills starting getting to 60 days, (which started in April or early May), we began sending out notices and discussing it with their Dir. of Advertising and their production coordinator, who takes care of getting our bills to accounting.
Additionally, they've paid us approximately $400,000 for services since about Sept. last year, so this isn't a case of a client that had us do a project and then stiffed us on it.
That said...I agree with you as well as everyone else. The "Fed-Ex" thing really made us realize we have to take immediate action. And we already have our accountant looking at various scenarios concerning write-offs. As for our attorney, we avoid getting them involved in things until it's absolutely necessary. Heck, they charge us a 1/4 hour of billing if we call and say "hi" to them.
I just wanted to make sure what we were planning was appropriate, as well as get some ideas from others who have experienced this.
Chris Blair
Magnetic Image, Inc.
Evansville, IN
http://www.videomi.com
