Debt Collectors
Debt Collectors
Established in 1991 by a visionary in contemporary debt recovery, Commercial Collection Agency stands among the nation’s premier commercial collection agencies. Specializing in business-to-business collections and the retrieval of substantial outstanding debts, we have earned a distinguished reputation for our expertise and results.
In times of specialized requirements, Commercial Collection Agency’s in-house law firm stands prepared to bolster our team of debt collection professionals. With our collectors operating across every state, we extend our services to assist clients in recovering funds from businesses worldwide, boasting an impressive 85% success rate on large, viable claims.
Debt collectors approach commercial claims quite differently from retail claims (such as those against individuals for credit card or medical debt). Drawing from our decades of experience, we’ve observed that many collectors who begin in retail struggle to excel in business debt collection. The mindset required when dealing with professional organizations, large corporations, or small business owners differs significantly from that needed when dealing with individuals facing financial difficulties. While some collection agencies handle both retail and commercial collections, their collectors often move back and forth between the two types, highlighting the unique challenges each presents.
Our debt collectors adopt a tailored approach for each claim. Before making the initial call, they meticulously review all documentation provided by our clients. A successful commercial debt collector must grasp the inner workings of businesses and the significance of contracts, encompassing various aspects such as sales orders, purchase orders, invoices, return merchandise authorizations, pricing discounts, sales tax laws, freight and shipping charges, returns, and general contract terms.
Additionally, they strive to gain insight into both the company in debt and the individual they are contacting. The more understanding a debt collector possesses during the collection process, the greater the likelihood of success. Two initial factors typically prove crucial to success: comprehending the genuine reason behind the debtor’s non-payment and understanding the debtor’s personality to determine the most effective negotiation approach.
Often, debtors initially withhold the true reason for non-payment of their bill. Engaging the debtor in conversation is crucial for securing payment, as listening allows us to gain insights into the business, the personality of the individual we’re speaking with, and the involvement of other relevant parties. Careful listening enables us to discern between genuine reasons and mere smokescreens. Identifying fabrications or misleading stories can serve as a potent tool in accounts receivable collections.
Once we ascertain the genuine reason for non-payment, we devise a tailored strategy to secure the funds. With an impressive 85% success rate in claims against open businesses, our success stems from the extensive training and experience of our collectors. By carefully listening and implementing effective collection strategies, we consistently achieve results for our clients.
