Commercial Debt Collection
Our debt collection effort starts with verifying the contact information provided by our clients and gathering additional information on the business to be used by the debt
collectors. We email, fax and mail a short demand letter to the debtor typically within one business day of receiving a claim. However, the primary communication method in our debt collection process is the telephone. When we can get the debtor on the phone, we can find out through a series of questions what the real reason is for unpaid bills. Determining the real reason can have a dramatic impact on the approach the debt
collector will use.
During the debt collection process, we may make dozens of phone calls. With caller ID, computerized telephone attendants, voicemail systems and live call screeners, it often is extremely challenging to get a debtor on the phone. However, we are persistent and relentless. We do not use computerized predictive dialers.
We provide the following services as part of the debt collection process:
Background Investigation
This means developing an understanding of the debtor — the business itself, the
ownership, and its employees. We seek to determine how large they are, how long they have been in business, and how the business is performing. We will also investigate the background of owners, managers and employees as appropriate. The debt collector uses this information to develop a strategy and in negotiations with the debtor.
Skip tracing
We do extensive research either confirmed they are no longer operating or to find them at a new location or operating under different names or with different contact information.
We also track down owners, either because they have personal liability for the business debt or to confirm the business is closed.
Credit Analysis
Most collection claims result from the debtor having financial problems. We seek to understand the owner's personal financial situation as well as the company's financial position to help us with developing a negotiating strategy and conducting negotiations.
Payment Plans
Unfortunately, in the vast majority of larger commercial collections the debtor does not have the financial ability to make full restitution in one payment. We will negotiate and enforce payment plans, which may have weekly, bi-weekly or monthly payments. These plans get documented and we strive to make them as automatic as possible. While we strongly prefer to get all of your money immediately, if we have to work it over an extended period it is still superior to not getting paid or going to court. All payments plans are subject to client approval.
Settlement Agreements
In other situations, a debtor may be delinquent with a significant number of vendors and only have a limited amount of funds available to satisfy old debts. While a long-term payment plan may get a full recovery, there is risk that the debtor goes out of business before satisfying the obligation in full. In this situation, it may be preferable to negotiate a settlement agreement where the debtor gets a discount but pays the full discounted amount immediately. Clients must approve in writing any settlement agreement.
Collection Litigation
We only recommend suit if we believe there is an extremely high likelihood of getting a substantial return on investment. All litigation must be approved in writing by clients.
· Partner with us to collect your stubborn accounts. No collection No fee
· Let CCBI manage your receivables while you run your company.
· Save time and money by letting the professionals recover your money.
· A primary focus for all our clients is collecting balances owed while retaining the customer.
· All debtor communications are handled in a diplomatic, professional manner which yields maximum results.
· We collect from corporations, LLC's, partnerships and proprietorships. We also collect against individuals who are personally liable for business debt, which can happen if they signed a personal guaranty, own a proprietorship.
collectors. We email, fax and mail a short demand letter to the debtor typically within one business day of receiving a claim. However, the primary communication method in our debt collection process is the telephone. When we can get the debtor on the phone, we can find out through a series of questions what the real reason is for unpaid bills. Determining the real reason can have a dramatic impact on the approach the debt
collector will use.
During the debt collection process, we may make dozens of phone calls. With caller ID, computerized telephone attendants, voicemail systems and live call screeners, it often is extremely challenging to get a debtor on the phone. However, we are persistent and relentless. We do not use computerized predictive dialers.
We provide the following services as part of the debt collection process:
Background Investigation
This means developing an understanding of the debtor — the business itself, the
ownership, and its employees. We seek to determine how large they are, how long they have been in business, and how the business is performing. We will also investigate the background of owners, managers and employees as appropriate. The debt collector uses this information to develop a strategy and in negotiations with the debtor.
Skip tracing
We do extensive research either confirmed they are no longer operating or to find them at a new location or operating under different names or with different contact information.
We also track down owners, either because they have personal liability for the business debt or to confirm the business is closed.
Credit Analysis
Most collection claims result from the debtor having financial problems. We seek to understand the owner's personal financial situation as well as the company's financial position to help us with developing a negotiating strategy and conducting negotiations.
Payment Plans
Unfortunately, in the vast majority of larger commercial collections the debtor does not have the financial ability to make full restitution in one payment. We will negotiate and enforce payment plans, which may have weekly, bi-weekly or monthly payments. These plans get documented and we strive to make them as automatic as possible. While we strongly prefer to get all of your money immediately, if we have to work it over an extended period it is still superior to not getting paid or going to court. All payments plans are subject to client approval.
Settlement Agreements
In other situations, a debtor may be delinquent with a significant number of vendors and only have a limited amount of funds available to satisfy old debts. While a long-term payment plan may get a full recovery, there is risk that the debtor goes out of business before satisfying the obligation in full. In this situation, it may be preferable to negotiate a settlement agreement where the debtor gets a discount but pays the full discounted amount immediately. Clients must approve in writing any settlement agreement.
Collection Litigation
We only recommend suit if we believe there is an extremely high likelihood of getting a substantial return on investment. All litigation must be approved in writing by clients.
· Partner with us to collect your stubborn accounts. No collection No fee
· Let CCBI manage your receivables while you run your company.
· Save time and money by letting the professionals recover your money.
· A primary focus for all our clients is collecting balances owed while retaining the customer.
· All debtor communications are handled in a diplomatic, professional manner which yields maximum results.
· We collect from corporations, LLC's, partnerships and proprietorships. We also collect against individuals who are personally liable for business debt, which can happen if they signed a personal guaranty, own a proprietorship.