This is not a way forward. 1). Work with better clients. You can have invoice collection problems at $50k, too, but they're much less likely than at $500 and you have much better options for... escalation methods at that point. 2). If you're not a bank, stop taking on so much credit risk. Businesses can deal with substantially sterner payment terms than you'd think to offer. If your clients balk, see #1. (Thomas has…
Created an MVP app to solve this problem based on a similar situation I experienced.
http://app.g2link.com/