Commercial Debt Collection: How Do You Know If You Are Getting the Best Rate of Recovery on Your Claims?

Commercial Debt CollectionHow do you know if you are recovering all that you can on your commercial debt collection claims? The answer is unless you are collecting 100 cents on every dollar placed plus interest and return of advanced costs you probably do not know.

One way to find out if you are getting the highest rate of recovery is to ask friendly competitors in your industry about their experience.

  • What is their collection attorney’s rate of recovery?
  • Are they using an attorney who only charges a fee if she or he collects?
  • Are they using an attorney who handles only debt collection claims to recover bad debt?
  • Is there a need to advance anything other than minimal out of pocket costs?
  • Does the attorney assess collectability of your commercial debt collection claim before moving forward so that you do not waste time chasing uncollectable claims?

If you know the questions to ask, you will be able to gain a better perspective as to whether you are realizing maximum recovery on your New York commercial debt collection claims. You will then have the necessary information to make the decision if you want to try a firm that: reports recovery by past performance in each industry, can provide names of competitors for you to contact and is not competing with your lawyers since they handle the collection of bad debt exclusively.

Are you ready to see if you can get better results? Place a claim now by calling us at (212) 686-0100 or email jnager@ffgnesqs.com.

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