The goal of commercial debt collection is to turn your accounts receivables into positive cash flow for your
business. Whether selling goods or services, many business transactions involve the extension of credit to
the client or customer, and few things are more frustrating than making the sale and then not being paid as
agreed. Commercial debt collection is the process of getting paid by enforcing that agreement.
Many creditors are reluctant to seek outside help to collect on their accounts receivables. They often feel
that there is nothing that can be done if the debtor really has no money, or they do not want to alienate a
source of potential future business, or they feel that the best way to get paid is to maintain a good rapport
with the debtor. These feelings are usually the result of the debtor promising that payment will be coming
soon, but that just a little more time is needed. Whether the debtor wants to pay but does not have the
money right now, or does not want to pay at all, the debt collection process should be initiated sooner rather
Commercial debt collection involves much more than simply suing a debtor to force them to make payment.
Depending on the situation, the collection process may involve entering into a new agreement that
acknowledges the debt in writing, perhaps with a personal guarantee, and provides for making payments in
installments until the debt is paid in full. In other situations, it may be necessary to obtain a judgment and
then seek its enforcement by seizing the debtor's income or assets.
We understand that there is no one-size-fits-all approach when it comes to business relationships and
business debts. We work with you to provide a customized solution to ensure that the collection process has
few, if any, negative side effects for you and your business.
Commercial Debt Collection
225 Broadway, Suite 1901, New York, New York 10007 I Tel: 212.227.2030 I Fax: 212.766.2298
|A New York Professional Corporation
|We practice in the state and federal courts
of New York and New Jersey
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Copyright 2010 Turck Law, P.C. All rights reserved.