We understand that you may have questions about Nelson, Cooper & Ortiz, LLC and the services we provide. Well, we have compiled commonly asked questions from our clients and answered them below. If we haven’t covered something, feel free to reach out to us. 

Q1. What is a Commercial Collection Agency?

Answer: Commercial collection agencies handle B2B (business-to-business) debt collections. That means we recover debt owed by a business to another business. For instance, when a supplier has overdue payments from a contractor, they can hire commercial collection agency services to recover their debt. 

Q2. Why is the letter from the collection agency more effective than sending another invoice from me?

Answer: If the debtor has been ignoring your invoices for the past several times, another one isn’t going to make a difference. However, a letter from a collection agency shows that you’re serious about recovering the debt. As a collection agency, we employ several tried and true techniques and have an arsenal of tools and software to recover your unpaid dues.

Q3. How long will it take to collect my debt and when will I get my money?

Answer: In debt and credit collection agency services, we see all kinds of business debts in drastically different situations. The time it takes to recover your debt varies on several factors. However, it usually starts a month after the due date of the payment has passed. 

Q4. Is account receivable collection the same as a debt collection?  

Answer: While both of them sound similar, there’s a key difference. Think of accounts receivables collection as the stage before debt collection. Accounts receivables are property rights that are held with others. Think of it as a credit line where someone takes goods or services from you and promises to pay you later. Accounts receivable collection involves invoicing, billing, and charging interest to the debtor. 

On the other hand, when a business doesn’t get the amount they are owed and exhausts its accounts receivable collection techniques, they hire debt collection agency like Nelson, Cooper & Ortiz, LLC. When you don’t get the money you are owed, it turns into debt, and recovering it becomes debt collection.  

Q5. Is a local or national collection agency right for you?

Answer: You may hear people saying local collection agencies lack the resources and expertise than a national collection agency service. However, an agency’s efficacy is determined by how strong an employee workforce they have, along with the training module that the collectors go through. So, what matters at the end of the day, is how efficient the agency is.

Q6. What can a debt collector tell you regarding your debt?

Answer: The debt collector has access to sensitive information, and can thereby help you know about the type and total amount of debt, and to whom you owed it to. They can also make you informed regarding the entire debt collection process, and offer you repayment options for convenience.

Q7. Do all debts fall under the protection of the Fair Debt Collection Practices Act (FDCPA)?

Answer: No, they don’t. Only the kinds that are classified as “consumer debts”, taken for personal, household, or family purposes are covered under the FDCPA. However, when it comes to business-related debts, the FDCPA doesn’t have the authority to limit the powers of a commercial collection agency.

Q8. Will collection agencies accept partial payments?

Yes, commercial agency services do accept partial payments for outstanding debts. Not only that, but some agencies might also provide you with solutions; accept negotiations; get some debt written off; and come up with convenient repayment plans for final settlement.

We hope this FAQ has addressed some of your key questions about Nelson, Cooper & Ortiz, LLC and the services we offer. Whether you are suffering losses due to overdue payments or want to partner with experts as a pre-emptive measure for debt recovery and debt collection, Nelson, Cooper & Ortiz, LLC can help.

Did we miss something? Send us your questions and inquiries at info@prelitigation.com.