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 as a loan).
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 on to learn about the basic options you have for commercial collections of secured debt.
It can be hard to collect on past due accounts, especially when you're dealing with the collection of unsecured property. Fortunately, creditors do have rights (as the right commercial collections attorney can attest)! However, it is important for you to remember that every commercial collections account is different. In other words, some procedures for collection may work in some instances and not others and adaptability and experience are key.
Commercial collections can be confusing for business owners. One of the most common concerns we've noted is the statute of limit on commercial collections. Different sorts of debt have different time limits. Can an older commercial debt ever have that time limit reset? In many instances, the answer is yes.
Commercial collections happen because a business owes you money for products or services that you provided. Here's what you need to understand about the process.
The commercial collections process is subject to certain laws and an ethical commercial process is essential to staying in business. Yes, collections can be difficult and frustrating. However, it is important that you and your employees maintain an air of professionalism and obey collections laws. Otherwise, your business could be named as a defendant in a lawsuit that involves the government as a plaintiff. Here are some ways that you can ensure that your commercial collections process is above board.
Commercial collections can be stressful for a business of any size. And, without the right tools in place, it can be challenging. For example, the older the debt, the harder it may be to collect on it. Here are four ways that you can improve your commercial collections.
Commercial collections can be a frustrating process. Here are 4 commercial collection tips every business owner needs to know.
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. As many business owners can attest, this is often not a simple chore. Here are 3 commercial collections questions every business owner should ask before starting the process.
Many businesses begin the commercial collections process in-house (read more on that here). While this can seemingly be a cost-effective way to recover past due accounts, there are some accounts that are harder to collect on. So the big question is: When should you outsource your commercial collections? Here are a few things to consider.