A commercial collection is the process of securing payment for debts between businesses and merchants. This form of collections does not involve consumers. Often times, businesses extend lines of credit in order to operate in full capacity. As with any extension of credit, the ability to pay in a timely efficient manner is necessary in order to sustain business operations. In fact, the inability to honor the payment of invoices can deeply affect both the creditor and debtor as both parties are relying on the extension of credit to operate their businesses. Thus, when businesses fail to pay their invoices, this can result in defaults for both businesses involved.
Although many businesses, particularly smaller businesses, choose to pursue payment of invoices on their own, there are times when legal assistance is needed. Many businesses do have scheduled payment terms for their invoices and when these particular payment terms are not met in an efficient manner legal action is taken. Companies that are having issues with collecting payment for services from other merchants have the option of pursuing commercial collections. This form of collections allows a business to obtain the assistance of an attorney in order to recoup unpaid debts and in some cases the cost of seeking legal representation for the collection of a debt.
JMH Legal Group has assisted a number of companies with commercial collections. We help our clients obtain repayment of outstanding debts in an efficient and professional manner. We understand it can be time-consuming and costly to pursue collection action against other businesses and merchants which is why JMH Legal Group is dedicated to providing commercial collection services that are comprehensive and effective for all parties involved. Our experienced attorneys have a variety of methods which will allow them to assist companies with the collection of outstanding business debts.