Every LNC business has or will eventually have a small amount of billing that cannot be collected on or bad LNC debt. Out of the hundreds of cases that you handle, a few result in bad LNC debt. Why does this occur? Although my examples in this podcast relate to expert witnesses, non-testifying LNCs may run into some of these same situations.
Listen in as Pat Iyer chats about these points:
- Do you have a collection issue because of a missed deadline?
- Why a poor report may cause bad debt
- What happens when the expert did not do well in a deposition
- Why inadequate preparation for trial can cause bad LNC debt
- When you do have to testify, you must be prepared
- why you should obtain prepayment before a trial
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Pat Iyer prepared this edition of Iyer’s Insights. Pat had systems in her LNC business to minimize bad LNC debt. Most of the time they worked fine. When they didn’t, nightmare!
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