Our Unique Approach to Collecting Commercial Debt
A commercial claim arises when there is a financial obligation between two businesses—from a service performed, goods sold and delivered, a personally guarantee of a business debt or a loan—and payment is not received.
At FFGN, our aim is to process your claim efficiently and effectively, maximizing the recovery of your debt in the quickest time possible. We evaluate each claim thoroughly, determining its collectability, and saving you time and money. We handle each claim individually, providing you with the personal service your business needs –– with updates throughout.
Each case is unique, and requires a different approach. Some claims don’t require suit, but we are prepared to take your collection through every step necessary to achieve results.
Our Individualized Process:
Step 1: Your file arrives at our office.
We can accept files by fax, email or mail.
Step 2: Our dedicated team reviews the file and acknowledges receipt.
Within 24 to 48 hours, we provide a thorough assessment of your claim and send a letter acknowledging receipt.
Step 3: We contact the debtor demanding payment on your behalf.
Before we recommend suit, we will make a series of demands via phone and mail in order to convince the debtor to satisfy the financial obligation. If no progress is made within three weeks, we move on to Step 4.
Step 4: We contact you with suit recommendations and request court costs.
We will promptly recommend suit if we believe is warranted. Should this be the case, you’ll receive a letter recommending suit and requesting necessary court costs. We value your time, so if recommending suit, we make sure we inform you within thirty days of receiving your claim.
Step 5: Awaiting Court Costs
We will not proceed with legal action until we:
- Receive your approval.
- Receive court costs.
If you decide to pursue legal action, we strongly urge that you forward court costs promptly. This way we can collect your claim in a timely fashion.
Step 6: Status Reports
We will give you status reports on your claim every thirty days or sooner, and keep you updated on any debtor communications as they happen.