Commercial collections can be a frustrating process. Here are 4 commercial collection tips every business owner needs to know. Doing Your Own Collections? Review the Account First Before you pick up the phone, mail out a letter, or otherwise contact the representative...
Commercial collections is a process that occurs when an account used by a business goes unpaid and the service or goods provider takes certain steps to attempt to collect on the money that is owed to them. Here are 3 commercial collections questions every business...
Many businesses begin the commercial collections process in-house. While this can be a cost-effective way to recover past due accounts, there are some accounts that are harder to collect on. When should you outsource your commercial collections? Here are a few things...
For many businesses with past due accounts, the commercial collections process often starts with making phone calls. Usually, businesses will begin by making the collections calls on their own. This process, known as first-party collections, can be difficult for...
While most parties and their attorneys are usually confident they have sued the right party, and can enforce the judgment from that party, sometimes it can be difficult to determine which corporate entity is the correct defendant. Many companies are structured with...
If you’ve tried any of the other commercial collections tactics discussed in previous posts to collect on a past due account without success, it is time for you to consider other options. How do you know if you need a commercial collections lawyer? The benefits of...
Through the process of commercial collections, a business that does not receive payment for services or goods takes action to collect on unpaid accounts. The unpaid accounts belong to other businesses, hence the term “commercial collections”. In this post, we’re going...
Many businesses do not realize the unfortunate reality that debtors have tools to keep at least some of their assets protected from collections. Many debtors, especially high-profile companies and individuals with high net worth, often rely on an approach called asset...
The commercial collection of secured debts involves collecting the collateral of a business that has defaulted on an agreement to pay for services or to pay back a loan. As a secured creditor, you have specific rights that enable you to collect the secured debt. Read...
The commercial collection of secured property is an effort to collect secured property that is at the heart of a commercial debt. The property may be the originating factor of the debt (such as a commercial vehicle) or it may be collateral used to secure a debt (such...