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Enter commercialcollection agencies—specialized firms that can play a pivotal role in optimizing your AR functions. Here’s why and how partnering with a commercialcollection agency can be a game-changer for your business. What is a CommercialCollection Agency?
Fortunately, a credit application contract is a powerful tool that sets the stage for successful transactions and protects your business interests. Cohen & Associates LLC, our commercialcollections attorneys employ ethical methods available under Massachusetts laws to help you get paid. At the Law Offices of Alan M.
It is a prudent creditmanager that attempts to obtain personal guarantees from the principals of an incorporated entity to which credit is being extended. In conjunction with the execution of a personal guarantee, the well-informed creditmanager will also attempt to obtain a personal financial statement from the guarantor.
They’ll be more familiar with the rules and how to adhere to the Fair Debt Collection Practices Act (FDCPA). Find out how they track debtors. Develop a debt collection agency list of characteristics. You’re dealing with your clients’ sensitive, personal information, and so is your commercialcollection agency.
5th DCA 1980) (“Since the appellees unconditionally guaranteed payment of the debt to the bank, clearly the bank could obtain a judgment for the deficiency against each of the guarantors and the debtor. However, the indebtedness can be collected only once, and any payment on any of the judgments must be credited to the others.”).
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