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Commercial Debt Collection Tips

We want to give you some commercial collection agency tips that will assist your company’s debt collection efforts and improve your efficiency.

One of the most important commercial collection attorney tips is to make sure you have proper documentation. This could include documents such as service contracts, purchase agreements, invoices, and signed guarantees. Many times a debtor will try to avoid paying the debt they owe your company simply by using lack of documentation against you. If there is not enough documentation to prove liability of the debtor, or that the amount owed is accurate, the debtor could succeed in getting out of paying the debt.

When a debtor puts the burden on you to prove that they owe you money, you will need to be prepared with the proper documentation and knowledge of commercial debt collection laws. If you are meticulous about collecting documentation for every transaction with your customers and maintain these records, you should have no difficulty proving that the debtor owes the money you claim they owe you.

An important document to keep on hand is a personal guarantee. This can help increase the percentage of collection of commercial debt is the requirement of a personal guarantee by the owner of a company before doing business. This will show that the debtor gives you the right to pursue personal assets if the loan goes into default.

Consider outsourcing your commercial debt collection to make sure you recover more debts quicker. A commercial collection attorney can help relieve the headache of pursuing your debtors and may also reduce the time of debt recovery. This may increase the amount of debt you are able to recover, as well. A commercial collection attorney has the knowledge, experience and resources to produce results quickly with little cost to you.

If you want peace of mind and better results collecting your debts, contact us now and let us take the worry of unpaid debts off of your plate.

Our collection attorneys know the commercial debt collections laws and can help reduce your cost and increase your results.