Collecting Money in Florida – Collection Agency – Florida Collection Attorney
In past blogs, we have discussed the difference between using a Florida commercial collection agency rather than a Florida debt collection attorney. Collection agencies are not licensed to practice debt collection law. A collection agency typically will make collection calls and send a few collection letters to your customer to collect your money. If the collection agency is not successful, they then have to charge you a higher contingency fee and send the case to a collection lawyer.
Florida collection law firm
A debt collection law firm contacting your customer first to make demand for payment, has a bigger impact than your customer receiving a collection letter from a commercial collection agency. A debt collection lawyer after sending a demand letter and calling your customer demanding payment, can then recommend that a lawsuit be started to recover the money that is owed to your company.
Florida Debt Recovery Law Firm
Once a lawsuit is started to recover your money, your company now has greater control over the debt collection process. Your customer will either recognize the debt and attempt to make payment arrangements with our office – hire an attorney, if there is a legitimate dispute to the debt or ignore the debt collection lawsuit. If the lawsuit is ignored, your company would be entitled to have a default judgment entered against your customer for the amount of the open invoices, costs and interest as allowed under Florida Law.
Florida Collection Attorneys – Lawyers
To learn more about the debt collection process and about how our Florida collection attorneys may be able to help your company recovery its money, we encourage you to contact us and ask to speak to one of our collection attorneys. Working together, we will devise a debt recovery strategy that is just right for your company.
Collection Agency Litigation Departments Forward Claims from their Collection Agencies
A collection agency is not licensed to practice debt collection law. Collection agencies set up departments in their collection agency to forward accounts for collection of past due account receivables to commercial collection attorneys. Our debt collection firm has established a division that gives credit managers the opportunity to forego using a collection agency and send their accounts for collection directly to our commercial debt collection law firm.
Debt Collection Law Firm
AttorneyDemandLetters.com May Save You Money When You Use An Attorney Debt Collection Service Instead of a Commercial Collection Agency
AttorneyDemandLetters.com was established to offer credit managers a low cost solution to paying high collection agency contingent fees. Just like collection agencies our collection lawyers will draft a demand letter for payment. In addition, we offer an attorney telephone demand service to let your customers know that your company is serious about collection past due accounts that are due. Collection agencies typicaly charge between thirty – forty percentage contingency fees. With our flat fee service, you may save thousands of dollars using this debt collection service instead of utilizing a collection agency.
Collection Agencies May Not Be As Effective
Once your customer sees that you have retained a law firm to assist your company collect past due debt, the debtor will know that if arrangements are not made with your company for payment, litigation may be imminent. Today, most debtors recognize that a collection agency cannot bring suit. Collection agencies rely on commercial collection attorneys to bring suit on behalf of their collection agency clients. The collection agency in effect is acting as a middleman. As a result, you end up paying a higher contingent fee. By cutting out the collection agency you are eliminating the middle man and will save on contingency fees.
Collection Agency Collection Attorney Software
Whether you are a collection agency or a collection attorney in order to properly manage your work flow in a debt collection setting it is important to have debt collection software. Collection agencies and commercial collection law firms typically have a high volume of debt collection files. To manage these files without the assistance of a debt collection software program would almost be unheard of in the debt collection industry.
Our commercial collection law firm uses a web based software called Casetracker. Casetracker software allows our debt collection professionals track thousands of commercial debt collection cases. Because it is web based it allows not only our commercial debt recovery staff but also our commercial debt collection clients to log in from anywhere there is a web browser, including smart phones, to gain access to their files.
Collection Agencies and Collection Attorneys Use Debt Collection Software
Casetracker has different modules in place to help manage the work flow. Our debt collectors have a different module from our customer service representatives. Each collection file maintains a separate accounting section so that when funds are collected from debtors, clients are easily able to track the amount collected, the contingent collection fee that our collection lawyers will retain and then the net proceeds of the collection that will be remitted back to the client.
Collection Law Firm
Our commercial debt collection law firm was first introduced to Casetracker by a Florida commercial collection agency that had been using the software for several years. Collection agencies have some different needs when it comes to debt collection software but, the similarities between what a commercial collection law firm and a commercial collection agency do are not that different. Casetracker was able to customize our debt collection software to our needs as we did not need some of the features that a commercial collection agency would utilize.
We are a commercial collection law firm based in Boca Raton, Florida. We would be happy to share our experience using Casetracker over the years in our office. We welcome commercial debt collection claims directly from creditors and from collection agencies from all over the United States.
Collection Agencies Use Demand Letters
Collection agencies have been referring their collection agency accounts to our commercial collection law firm early in their debt collection process. In previous blog posts we have discussed the difference between a collection agency and a collection lawyer. There has been a lot in the news about collection agencies, With the economy slowly recovering businesses are starting to extend credit again. The result is that there are more collection accounts that may need to the assistance of a third party debt collector. The client needs to decide whether to send the account to a commercial collection agency or a collection attorney.
Guide to Internal Debt Collection Procedures
When the client has many small balance accounts that are past due, sending those collection accounts to a collection agency may make sense. A commercial collection agency is not a collection attorney and not license to practice debt collection law. Collection agencies have systems in place for handling huge volumes of claims and can send multiple demand letters for payment and make many debt collection phone calls. However, once a matter is not able to be collected a collection agency must send the account to a collection law firm to pursue further debt collection activities.
Collection Agency Alternative
Our law firm has launched a new service wherein; a creditor can put the power of an attorney demand letter behind their demand for payment. Most people who owe money would take the threat of legal action from a lawyer letter demanding payment over simply receiving a collection letter from a commercial collection agency. Our attorney demand letter for payment service also offers an avenue where collection calls are made from our collection attorneys and trained collection staff.
Collection Agencies Use Our Debt Collection Service
We encourage you to visit our web site to learn more about our attorney demand letter service for debt collection. You may find this service a better and less expensive alternative to placing your collection accounts with a collection agency.
Collection Agencies Refer Their Debt Collection Files from Their Collection Agency to Our Debt Collection Law Firm
We have been discussing the differences between a debt collection law firm and commercial collection agency in several past articles on our debt collection blog. The first thing that our collection law firm emphasizes to our clients who seek our counsel in how to collect on past due collection accounts is that collection agencies are not licensed to practice law.
Collection agencies are limited in the means and methods available to the collection agency in attempting to recover past due accounts.
A typical collection agency will send out a series of collection letters and then make repeated phone calls. In these tough economic times, that usually is not enough. Most businesses today have very tight cash flow and phone calls and letters from a collection agency may not give the debtor enough incentive to make payments to your company first.
Florida Collection Attorney Gebeloff
When you engage a debt collection law firm instead of utilizing commercial collection agencies, you know put the power of the imminent threat of legal action behind your demand for payment on the past due account. It is true that the cash flow of a business presented to a collection agency when they are attempting to collect a debt will be the same as presented to the debt collection law firm but, once a debtor is served with a summons and complaint from a collection attorney, the timetables for payment change.
In our next blog post we will discuss what some of the scenarios your company may expect from a debtor after being served with a debt collection lawsuit. A debt collection lawyer backed by a commercial debt collection law firm can provide several different debt collection strategies for your company to consider. We will make clear why using a commercial debt collection law firm over a commercial collection agency may be the better alternative for your company when implementing a debt collection strategy.
Collection Attorney to
“Collecting Account Receivables”
“Don’t Let Your Company’s Money Burn”
When you are busy running your small business, worrying about collecting on past due accounts is the last thing you want. Cash flow is vital to the success of any small business. Having an effective plan in place on how to manage your account receivables is vital. The Gebeloff Law Group will soon be releasing a free e-book to assist credit managers and small business owners implement a plan to better manage their accounts. The book will be titled “Collecting Account Receivables – Don’t Let Your Company’s Money Burn.”
Gebeloff E-Book will assist your company collect more of its outstanding debt
When in house collection methods are not working, there are choices to be made. Debt can simply be written off or the debt can be sent to a commercial collection agency or a commercial debt collection law firm. In the e-book collection attorney Stephen Gebeloff will discuss the difference between collection agencies and collection attorneys. Sometimes sending your accounts to a collection agency may make sense but, after reading the book on debt collection procedures and strategies, you may come to recognize that utilizing a full service commercial collection law firm may prove more cost effective and lead to a higher percentage of your delinquent debt accounts being recovered.
The Gebeloff Law Group is a full service debt collection firm. Our collection lawyers would be happy to discuss your company’s internal debt collection procedures. Being proactive is very important in maximizing your company’s recovery of past due accounts. Not every account is collectable but, by discussing your company’s debt collection needs, our collection lawyers can effectively work with you to explore different collection strategies that may lead to the recovery of your company’s money.
We encourage you to contact our commercial collection law firm to discuss your specific debt collection needs with one of experienced debt collection lawyers.