"Carrying a slow pay/no pay client is nothing less than allowing a client to gamble with your money with your money, and allowing the client to make its problems your problems."

Totally agree.  As of a couple of years ago, there were always those one or two clients who pushed it to nearly the next month's invoice before paying, but they always paid.  Business was good.  The check would eventually come. No big deal.  

What turned that attitude around and made me diligent with the "net 30" terms was a company called "Cardinal First," (Larry Shenise and Rita Dawson) who were one of my better volume clients for a couple of years.  They shut down owing me nearly four thousand dollars for nearly 3 months of work.  Larry Shenise opened "Regional Title" as he was closing Cardinal First and as far as I know Regional is still in business......hopefully at least paying their examiners with the money they never paid to my company! 

Maybe too much information, but it's probably a good idea for us to display a modest amount of solidarity even though we're competitors, especially when it comes to exposing the non paying clients.  Chances are if they got away with it once, they're going to keep doing it!

On the positive side of the negative subject though, Crescent Title didn't do that to me.  They paid me right up to the last month, they just didn't pay me FOR that last month, which makes me wonder if they chose to shut down or if their underwriter pulled their plug.