What is a Commercial Collection Agency?
A commercial collection agency is a highly specialized debt collection agency that recovers past due amounts arising from any type of business transaction (as opposed to a consumer transaction).
A commercial collection agency is a highly specialized debt collection agency that recovers past due amounts arising from any type of business transaction (as opposed to a consumer transaction). A commercial collection agency is contrasted from a consumer collection agency that collects past due amounts arising from consumer transactions such as mortgage payments, personal car payments, medical payments, etc.
What Do Commercial Collection Agencies Do?
Commercial collection agencies work hard to contact debtors who owe past due amounts for transactions relating to business (commercial) transactions. These transactions involve collecting past due amounts for goods or services of any kind delivered by one business to another business. Commercial collection agencies also collect from individuals who guarantee the debts of a business.
Why it is Needed?
Commercial collection agencies are needed because special skills and expertise are necessary to work with business debtors to collect past due amounts. The skills and expertise include understanding general business law, knowing local and federal collection laws as they relate to business transactions, having strong negotiating skills to work with debtors to get them to understand why it is in their best interest to resolve the collection matter, being persistent yet professional to gain the trust of debtors, and being able to analyze and implement the best collection solution for a particular matter.
Why TCLG is the Right Choice as Your Commercial Collection Agency
The Collection Law Group (“TCLG”) is the right choice for any commercial collection matter because:
- TCLG specializes in collecting exclusively on commercial collection matters. This allows TCLG to be more effective collecting because TCLG understands every aspect of commercial collections and commercial litigation.
- TCLG collectors are all lawyers. As a result, TCLG collects more quickly and more efficiently than non-lawyer firms because TCLG lawyers truly get the attention of debtors.
- TCLG lawyers understand commercial collection law on a state and federal level. Understanding the law allows TCLG to collect more dollars for clients because the law does make a difference in commercial collection matters.
- TCLG lawyers collect and litigate on a contingency basis. This means TCLG clients can minimize their of pocket costs and monetary risk if commercial litigation is necessary.
- TCLG lawyers take a collection first mentality and only litigate when absolutely necessary. By focusing on collecting first as opposed to litigation first TCLG collects more money for clients in a quicker time period.
- TCLG lawyers understand businesses from an operational standpoint. The is allows TCLG to be more effective in collecting past due amounts because understanding the business of debtors leads to more collection success.
- If litigation is necessary TCLG lawyers manage partner lawyers in the jurisdiction where debtors are located. Having litigation matters managed by lawyers provides better litigation results for TCLG clients.