Commercial Debt Collection
FFCC collect debts of all amounts
The Commercial Collection Agency You Can Really Trust
We Specialize in Handling B2B Collections With an Excellent Recovery Rate So You Can Focus on Your Business.
What Is Commercial Debt Collection?
Also known as business-to-business (B2B) collections, commercial debt collection is used by commercial businesses that sell their services or products to other businesses. If those businesses refuse to pay, a commercial collection agency steps in to assist.
B2B companies can include manufacturers, marketing agencies, supply companies, commercial accountancy firms, and import/export businesses. Both the seller and consumer businesses rely on each other and can often build lasting partnerships supported by B2B contracts.
Commercial collections begin after products or services are delivered to the client business. The invoice is generated and the client business is responsible for completing the payment in a timely manner or as agreed in a previously signed contract.
Unfortunately, sometimes the client’s business (the debtor) is unable or refuses to pay the invoice. The supplying business (the creditor) is then put in an awkward position of having to repeatedly request payment, often unsuccessfully.
Chasing payments takes up the creditor’s time, money, and resources which takes away from their business. They rely on regular payment for their services to remain operational and pay their staff. It’s a very stressful and difficult situation to be in!
The best course of action for the creditor is to hire an experienced commercial debt collection agency such as First Federal Credit Control.
At FFCC, we understand how essential accounts receivables are to our commercial clients. Commercial businesses are usually too busy conducting business to chase after unpaid accounts. That’s where we step in and take the matter into our own hands, allowing commercial clients to focus on their business.
If you are a creditor in need of commercial collection, we are here for you. Get in touch to find out how we can work with you to recover what you’re owed sooner than you think.
When Do You Need Commercial Debt Recovery?
Struggling with commercial debt is a stressful and difficult position to be in. The money owed to your company by other businesses was earmarked to pay your staff, replace inventory and invest back into your business.
Without that cash flow, you’re starting to wonder how you’ll be able to pay your expenses. This can lead to serious problems and could damage your company’s reputation.
So how do you know when it’s time to hire a commercial collection agency? If you can relate to any of the following points, the time is now.
You Have a Client Who Is Refusing Contact or Unwilling to Pay
If you have delivered goods or services to your client business and they have received the invoice, they are responsible for paying on time. It’s common for businesses to be a little late paying invoices, but not to the point where you have to remind them.
Invoices should be paid within 30 days or within your agreed grace period according to your contract (if you have one). If your client hasn’t paid and is avoiding your emails and calls, it’s time to get professional assistance from a commercial collection agency.
Your Accounts Receivable Staff Are Overloaded
As a well-established B2B company, you rely on your accounts team and administrative staff to keep things running smoothly in the background. Although client account management may be in their job description, debt collection is not.
They are busy enough with day-to-day tasks without putting time into chasing unpaid invoices. Paying for their time will also add to the losses caused by the commercial debts. Repeatedly contacting customers to request payments puts unnecessary pressure on your staff who will begin to feel uncomfortable.
It’s vital to maintain a positive working environment and avoid additional strain on your team. The solution is to leave the debt collecting to the professionals at FFCC.
You're Concerned About How You Will Pay Your Overheads
You’ve realized the extent of how the unpaid invoices are affecting your cash flow. No matter the scale of your business, you need to ensure there is enough capital to pay your overheads. Inventory, staff salary, utilities, rentals, and the like all need to be paid regularly for your business to remain operational.
If you’re worried about how you’re going to be able to pay for these, don’t delay any longer – you need a B2B collection agency as soon as possible.
Benefits of Hiring a Commercial Debt Collector
It makes a lot more sense for B2B owners and managers to do what they do best and run their company. Leaving the debt collecting to the experienced professionals at FFCC will be very beneficial for the following reasons.
Higher Debt Recovery Success Rate
Commercial debt collection is what we do, and we have been doing it for over 50 years. The wealth of knowledge and expertise among our team enables us to dramatically increase the chances of recovering what you’re owed.
With a recovery rate of 42%, you are more likely to succeed when hiring our services than without. Get your money back in the most efficient and cost-effective way with the help of our FFCC commercial specialists.
Businesses Pay Faster When a Debt Collector Is Involved
Sometimes, even just a phone call from a commercial debt collector is enough to encourage the debtor to pay up. In this case, the debtor was able to pay but just refused to.
However, if the debtor is unable to pay in full, they will need to agree to a payment plan and repay their debt over time. Either way, you will receive your money a lot faster with our help.
Everything Is Recorded
Have you recorded the date and time of every attempt to contact the debtor? If the commercial debt problem ever had to go to court, these records would be important in supporting your case.
It’s not very common for creditors to think about this at the start, but it’s vital to document the entire process. This shows you made an extensive effort to recover the debt which would help in court.
Our experienced debt collectors record everything and file everything for you for easy access. This documentation is also important proof if you claim the debt as a tax deduction. The IRS will want to see that you tried everything to recover the debt before claiming it as a deduction.
Know Your Legal Rights
In the vast and often confusing world of commercial debt law, it may be overwhelming for creditors to understand their legal rights. Do you know how your actions could affect your debt recovery? Do you know if the debtor has grounds to sue you?
By hiring FFCC commercial collectors, you are protecting yourself from making mistakes that could harm you and your business. Eliminate the risk of making the situation worse by trying to collect on your own by hiring a specialist from FFCC instead.
Preserve B2B Customer Relationships
If you’re still at the point where you want to preserve the relationship between you and your client business, then our B2B debt collection is the solution. You can avoid any uncomfortable interactions between you and the debtor and keep the transaction impersonal and professional.
We handle every case with exceptional professionalism and maintain great communication with our clients throughout. We provide a middleman between you and the debtor to make your life easier and remain on track.
Excellent Commercial Collection Recovery Rates
Our years of experience and proven debt recovery methods provide excellent results for B2B company owners. Using advanced technology and our powerful database, we can achieve higher rates of recovery at 42%.
Our average annual recovery is more than $20 million in debts that would have otherwise been uncollected. We also have an 18.1% success rate for previously failed accounts handled by other agencies.
We conduct commercial debt collection by the book. We pride ourselves on offering exceptionally professional commercial debt recovery services that follow state and federal law such as the Fair Debt Collection Practices Act (FDCPA).
Our team will only contact the debtor during reasonable hours and communicate clear and honest information. We document and record every step of our process on your personal FFCC portal which you can view at any time.
As representatives of your business, you can rest assured that we will protect your business integrity and respect your company ethos.
Legal & Professional Commercial Collection
The FFCC Process
Step 1: Consultation
Get in touch with our B2B debt recovery specialists to arrange a consultation. Here you can tell us about the situation and provide any documentation of the unpaid accounts and records of any previous contact with the debtor. We grasp a full understanding of the circumstances before taking the next step.
Step 2: We Contact the Debtor
Our team will make contact with the client business in question by email, phone, or mail in a non-confrontational manner. We provide the customer with the required 30 days to dispute the debt in writing. If we do not receive a dispute from the customer, we will assume the debt is valid and continue the process.
Step 3: Negotiating Payment
If the debtor can not pay in full, together with you, we will negotiate a payment plan or payment contract that works for everyone. If the debtor is in serious debt, they may have to agree to a Debt Management Plan (DMP).
Step 4: Outcome 1- Reimbursement of Services
Once the debt is settled and your client has completed their payments to you, the matter can be closed. We know we only succeed when you do, and that means delivering results. We will provide you with our fee which is payable online.
Step 5: Outcome 2- Litigation
If the payment plan is not followed and the debtor still refuses to pay, we will initiate legal action. This will depend on how long the debt has been owed. Each state has a different time limit or ‘statute of limitations on debt.
Legal action should be a last resort. Going to court is costly, time-consuming, and sometimes not worth it in the long run. We will do everything we can to resolve the situation without getting to this stage.
Why Choose FFCC Commercial Collection Agency
For more than 50 years, FFCC has been a leading commercial collection agency surpassing the competition’s success rate. We pride ourselves on revolutionizing what a commercial collection agency experience is supposed to be. We only succeed when you do, which means delivering results.
Our highly qualified commercial collection specialists have experience working with a variety of B2B companies. They can handle any scale of commercial collection from unpaid invoices to large-scale contracts.
Our clients trust us to handle their debt recovery due to our excellent track record and high recovery rate of 42%. We are part of a network of over 4,000 collection specialists as part of the Association of Credit and Collection Professionals (ACA International).
We provide our B2B clients their very own secure FFCC portal where they can see account status and payment updates at any time. Our team does everything in its power to make the collection process simple, well communicated, and successful. Read our client testimonials [insert link to client testimonials] to see what they have to say about us.
Commercial Debt Recovery Pricing
Our pricing is transparent and simple with no hidden agenda or fees. We will only charge a fee when we have collected from the debtors.
You never have to wait for your repayments. We remit all money collected for our clients at the conclusion of each month. We set up a personalized portal for you to keep track of your payments whenever you like.
Get in touch with our helpful team to find out more about our pricing.
Get Your Commercial Collections Started Today
Don’t wait any longer to get reimbursed for your services. Let FFCC, your trusted commercial collection agency take over the stressful and time-consuming task of recovering payments.
Get in touch with one of our B2B collection specialists and find out how we can help get back to your business as soon as possible.