Commercial debt collection consultant focused on accounts receivable, merchant cash advance, & secured transactions.
Commercial debt collection consultant focused on accounts receivable, merchant cash advance, & secured transactions.
With over 15 years of experience, the focus is on helping your company collect commercial debts through established security interests in collateral, including equipment, inventory, accounts receivables, and intellectual property.
We offer flexible services and pricing to help you accomplish your goals.
Leverage your security interest and UCC-1 to collect the maximum amount.
Typically, RTR should not be discharged under a bankruptcy proceeding.
Stay ahead of defaults and be ready to move quickly when they occur.
Avoid usury counterclaims and penalties by taking specific preventative steps.
Effective methods to get a debtor to respond to your contact attempts.
Stop third-parties from hijacking your RTR and interfering with your rights as a creditor.
Debtors cannot convey or dispose of assets and collateral to avoid repayment.
Develop the best approach to enforcing your legal rights without spending too much.
Build a network of lawyers in the states that you conduct business in.
Receive the full benefit of the underlying agreement, without discounts.
Debtors often form new entities that may be held liable for the original debt.
Collect Pro provides hands-on assistance to manage and collect outstanding debts. We work with businesses of all sizes and in various industries to help them improve their cash flow, reduce bad debt write-offs, and increase profitability.
We offer both hourly and flat-rate consulting services to help your business develop effective strategies to collect overdue debts, contact debtors and negotiating repayment plans.
Collect Pro can help you build a turn-key department that syncs with your existing accounting, customer service, and underwriting teams. Our advanced knowledge of many CRM's including Salesforce, CloudMyBiz, Centrix, and MCA Suite will allow for complete integration.
Here are some of the steps we typically take when building a department.
Overall, building an in-house debt collections department can be a good option for businesses that have a high volume of outstanding debts and want to maintain more control over the debt collections process. By following Collect Pro's expert advice, you can build an effective and efficient in-house debt collections department that helps your business to collect outstanding debts and improve its financial health.
Article 9 of the Uniform Commercial Code (UCC) provides a framework for securing and collecting commercial debts. This code governs security interests in personal property, which includes tangible and intangible assets and collateral such as equipment, inventory, accounts receivables, and intellectual property.
To use Article 9 to collect secured commercial accounts receivables, a creditor must first establish a security interest in the collateral or accounts receivables. Once a security interest has been established, the creditor has the right to take control of the collateral or accounts receivables in the event of default by the debtor. This process is known as perfection of the security interest. Perfecting a security interest often includes filing a UCC-1 financing statement, depending on the type of collateral. Once the security interest has been perfected, the creditor has several options for collecting.
Regarding tangible collateral, the creditor has the right to take possession of and sell the collateral in the event of default by the debtor. This process is known as repossession and foreclosure. The creditor must follow the procedures set forth in Article 9 for repossession and foreclosure, which typically involve providing notice to the debtor and any other parties with an interest in the collateral. If the creditor sells the collateral, the proceeds are used to pay off the debt owed to the creditor, with any remaining funds returned to the debtor. If the proceeds from the sale are not enough to pay off the debt, the creditor may be able to seek a deficiency judgment against the debtor for the remaining balance.
Overall, Article 9 of the UCC provides a powerful tool for creditors to collect secured commercial debts by establishing and enforcing security interests in property. However, it is important to follow the proper procedures and comply with all legal requirements to ensure that the creditor's rights are protected.
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Collect Pro is a for-hire consultant and this website shall serve as a digital resume for example purposes only. Collect Pro is not a law firm and does not provide legal advice or representation. Where Collect Pro is considered a debt collector, all information obtained shall be used to collect a debt. Collect Pro does not advise on, or directly or indirectly help to collect personal debt, only commercial debt. Collect Pro does not guarantee any outcomes or success on collecting debt.