Commercial Debt Collection

An internet search of consumer debt will bring up hundreds of articles, blogs, and websites dedicated to collection of consumer debt and consumer protection. A search for commercial debt does not yield the same variety or volume of results. Commercial debt is often not addressed because there are not as many laws regulating it and businesses are often left to fend for themselves. When a company’s commercial customers stop paying their debts the company can experience many problems, including not being able to pay their own bills.

Getting commercial accounts paid can require a different approach than consumer accounts. Businesses generally require written notice of debt, often including an itemized invoice so just making phone calls usually will not suffice. Finding the right person is also key. Sometimes contacting the person you did business with in the company isn’t the way to go unless that person happens to be the accountant. You should try to find the accounting department or accountant, because that’s the person who pays the bills. Be prepared to fight for your invoice as some companies will debate what’s owed. Unfortunately, effecting a company’s credit report isn’t always as useful as a consumer’s credit report. Bringing in a collection agency can often yield results if they have experience with commercial collections. Companies will often take a collection agency seriously, because they see that you are serious and that there are consequences for not paying.

Business Debt
Top Secrets for Commercial Debt Collection

Leave a Reply