Common Questions Regarding Commercial Debt Collection Services
Is there an upfront cost to engage The Kaplan Group?
No. We provide all our commercial collection services on a contingency basis – we get paid only if we collect money due you.
What is a Commercial Collection Agency?
A Commercial Collection Agency provides debt collection services on business to business transactions. If it was a business to business transaction with a sole proprietorship (e.g. not a corporation or limited liability company), then a commercial collection agency can also attempt to collect directly from the individual owner in addition to the company that ordered the product or service. If an individual provides a personal guaranty to a corporate or LLC liability, then a commercial collection agency can also collect from the individual who provided the personal guaranty.
Is account receivable collection the same as a debt collection?
Yes. An account receivable from a business that resulted from providing a product or service is referred to as a debt once a collection agency has been assigned to assist in recovery.
Is a local or national collection agency right for you?
When it comes to debt collection, being local is not critical. The effectiveness of a commercial collection agency is determined far more by the background and training of the collectors, the collection approach, persistence, timely follow-up, and ferreting out myth from reality. Most work is done over the phone or by fax; most research is done via Internet and phone – so location is not a factor. The Kaplan Group provides commercial collection services to clients from all over the U.S. and the world on debtors located throughout North America.
Does The Kaplan Group Commercial Collection Agency handle claims in all states?
Yes, we provide debt collection services throughout the United States and North America. We also assist our regular commercial collection clients with international debts with referrals to qualified attorneys in the debtors local area.
Does The Kaplan Group provide debt collection services for foreign companies?
We have extensive experience provided commercial collection services for foreign companies that are owed money by a North American company. We generally are able to get excellent results when U.S. debtors understand that a professional firm such as The Kaplan Group is now insisting on payment and will not accept the excuses and delay tactics that have been used on their foreign vendors.
What does The Kaplan Group charge for collection services?
There is no fee unless we collect your money. As each situation is different, we need to speak with clients to determine if our extremely competitive standard rates apply (10% to 25%) or special circumstances exist which may enable us to discount our regular rates.
We have had the same rates for over twenty years and we have proven to our long-term clients that our commercial collection rates result in their lowest net cost (e.g. amount recovered net of fees).
What is the smallest size debt The Kaplan Group will help collect?
For our regular clients we will provide debt collection services on amounts as small as $1,000. For new clients the average claim size needs to exceed $5,000.
What is the largest size debt The Kaplan Group will help collect?
Over the years we have helped collect million dollar obligations. On claims larger than $100,000, we discuss with clients the best approach (commercial collection agency first, or direct to attorney).