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Cannabis Debt Collection
Solid Cannabis Debt Collection Strategies
When your business has a significant accounts receivable balance, it can pose a cash flow problem. A cannabis-related company’s lack of available banking services can amplify the issue. With no bank-backed lines of credit to draw from, many businesses in the industry operate on “friendship credit.” This approach allows an organization to extend credit to another company without the due diligence of a credit analysis — a lack of risk assessment that can lead to repayment delays.
When your organization needs a solid debt collection strategy to extract payment for those outstanding balances, Harris Sliwoski can help.
Contact UsWhen to Seek Legal Guidance for Cannabis Debt Collection
There are several indicators you may need professional debt collection help for your cannabis business, including:
- Accounts over 30 days past due: A customer with a timely payment history often moves from paying cash on delivery to friendship credit. When those accounts go past the net 30 terms you establish and your customer’s promises to pay go unfulfilled, it may be time to engage an attorney’s help.
- Unreturned phone calls: Once a past-due balance progresses beyond 60 days, you may notice your customers are no longer responding to contact attempts. An experienced debt-recovery attorney has the training and skills to work with these accounts.
- A change in ordering history: If a customer suddenly stops ordering or reordering at their typical levels, you may want to watch the outstanding balances closely, even if they’re not past due. This behavior can signal the account no longer relies on you and may have fewer reasons to pay promptly.
- Grapevine gossip: The cannabis community can be relatively small, with some vendors shying away from business relationships. If you hear negative feedback about timely payment from another vendor, it can indicate cash flow issues.
At Harris Sliwoski, we try to preserve your working relationships with overdue accounts while collecting the money you’re owed.
Bold Advice From Experienced Attorneys
Engaging an attorney is often a more successful debt-recovery strategy than working with a collection agency. The attorneys can take legal action on your company’s behalf that a collection agency lacks the power to initiate.
In the cannabis industry, it’s even more essential to have a law firm that understands the business’s nuances. These legal professionals leverage their unique knowledge of industry cash flows and working arrangements to help increase your chances of payment.
The Harris Sliwoski team boasts extensive industry experience, including state-specific experience, representing cannabis businesses. Our skills include practical debt collection advice in states like:
- Arizona
- California
- Oregon
- Washington
Our Cannabis Debt Collection Services
As part of our comprehensive cannabis debt collection services, Harris Sliwoski attorneys provide:
- Preparing and forwarding demand letters according to law and best practices.
- Filing legal actions against the customer company.
- Collecting documents, depositions and written interrogatories as required.
- Negotiating favorable settlements and drafting settlement agreements.
- Representing you in civil actions before the court.
- Enforcing settlement agreements or court-issued judgments.
AWARD-WINNING
CANNA LAW BLOG
An intelligent, timely resource for the cannabis industry
Beyond advising individual businesses, our cannabis attorneys are committed to fortifying, defending, and building credibility for the industry as a whole. Harris Sliwoski’s cannabis business lawyers are more than legal strategists—they are thought leaders: forward-thinking bloggers, educators, writers, and speakers.
They regularly write articles for legal journals and frequently post to our acclaimed and widely followed Canna Law Blog. We speak to business and trade groups, academic institutions, and government bodies on a variety of cannabis legal issues, and our cannabis lawyers are frequently quoted by global, national, and local media outlets. We also have compiled (and are forever adding to) a Cannabis Glossary, to help with industry terminology.
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Our Clients' Successes
“Harris Sliwoski expertly guided us through the formation of our company. They continue to assist with necessary registrations and compliance with numerous regulations. They were able to promptly answer all our many questions and provide understandable options, explanations and practical advice. We expect to continue to use Harris Sliwoski on a regular basis as our company expands. They were also able to introduce us other professional experts. We would not hesitate to recommend Harris Sliwoski to any companies in need of legal advice.”
Three Continents Foods LLC
This law firm was a huge help as our company went through the process of commercial licensing in the California cannabis industry. They have helped us with a variety of legal issues in a timely fashion, while clearly communicating with us throughout the process. Everyone we’ve worked with at Harris Sliwoski is an expert in their field and we have always felt that we were in good hands through our legal representation.
Wil Crummer, CEO PRO Farms
Legal stuff is always scary. And I’ve had to play offense a couple times, begrudgingly. To have Harris Sliwoski have my back? It made things a lot less prickly. They quickly walked me through my options, and were refreshingly consistent in their communications, timing and billing. I’ve been lucky to stay out of the legal side of things my whole career, thankfully. When things went a little wrong, Harris Sliwoski quickly made things right.
Aaron Draplin, Founder Draplin Design Co.
I am impressed with this law firm. They answered all my questions regarding cannabis businesses and the California cannabis framework, and they have helped me with a variety of legal issues in a timely fashion, while always clearly communicating with us throughout the process. They also redirected me to other quality people for my business needs. Everyone I worked with at Harris Sliwoski is an expert in their field, and I was in good hands throughout my legal representation.
Corey T., CEO Thinc Cubed, LLC
I have been working with the lawyers at Harris Sliwoski for more than 20 years both as a business owner and as an executive at a large east-coast health system and that is because they have always efficiently provided high level and clear international law advice. Most recently, Harris Sliwoski provided legal support on many matters related to procuring medical products worldwide. Their support was particularly helpful to during the onset of COVID, when there was a big need for securing PPE quickly, all while navigating complicated international and domestic legal requirements. Harris Sliwoski’s team of international lawyers helped by conducting rapid-fire due diligence on potential suppliers, navigating the legal logistics for getting product from overseas and through U.S. customs, and drafting contracts to protect against various sorts of horribles. They did this by essentially providing what amounted to 24/7 service. I cannot recommend them highly enough.
Dan Pak Hospital Supply Chain Executive
Harris Sliwoski has represented our company in the legal cannabis industry for years. Harris Sliwoski has advised us in a wide variety of legal matters, and they are truly experts in their field. I would highly recommend Harris Sliwoski to anyone with questions about cannabis law, or any legal matters. They have been great for our Company, and will continue to guide us as our industry evolves
Matt Hurt, COO Cannabis Nation
You won’t find a better partner than Harris Sliwoski when trying to navigate the complex world of healthcare regulations. They not only give sound and reliable legal advice, but they are also very responsive and are able to guide you in a way that helps you reach your business objectives as well.
Joseph Axelrod, General Counsel Irwin Naturals
When we started the process of building a ‘seed to sale’ cannabis company in Oregon, we saw the need for expert legal counsel. The cannabis sector is fraught with potential peril at every turn, and we wanted the best legal advice we could find. After talking to several firms and individuals, we feel extremely fortunate to have chosen Harris Sliwoski as our legal counsel.
Tony Theiss, CEO and Co-Founder Redbarn Cannabis
We use Harris Sliwoski on all our international legal matters, including on our international litigation matters. We have over the last few years been involved in a couple big international legal disputes and Harris Sliwoski’s international dispute resolution team provided us with expert legal assistance on both matters. They were always very careful to explain to us what they were doing and why and what their actions would likely cost us in legal fees. Most importantly, we did extremely well on both cases and I have no doubt Harris Sliwoski was a big factor in that.
Kevin English, CEO We Are Camp
We have used Harris Sliwoski for legal help related to our international manufacturing. The lawyers with whom I worked had extensive familiarity with the international legal issues involved in our various projects and offered us key insights. I particularly appreciated how they always quickly and efficiently do what they say they will do and always within their cost estimates.
Andrea Barona Valladolid, Senior Legal Counsel Fairphone
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