Previously we looked at what was needed in a debt collection agency attending to debt collection in consumer collections.

When it comes to commercial collections, that is collections from debtors who are businesses, the requirements are different. As a general rule the volume of the bad debt hand-overs is significantly lower then consumer collections but the size of the individual collections involved can be significantly higher. Therefore while in consumer collections the debt collection route with debt collectors charging a commission on the successfully collected debt as oppose to attorneys with fixed tarriff regardless of success, is more appealing, in commercial collections it is not as clear cut as that.

Ultimately it is a numbers decision where the creditor has to work out whether paying a commission on a large debt is better then paying an attorneys fixed tariff on work done. In addition commercial creditors with large individual debt should have secured their debt and the enforcement of such security is really the domain of attorneys. Furthermore specialist attorneys can use other highly effective means of collection such as liquidations, see the article on the Bentley Attorneys website in this regard.

So for creditors with large and/or secured debts, unless the debt collection firm you choose has direct assess to practicing attorneys specialising in large commercial debt recovery you would do better to consult an attorney on your debt recovery.