07. 24. 17

During August 7-9, 2017, Commercial Collection Agencies of America will meet credit practitioners at CRF’s Expo and Credit & Accounts Receivable Open Forum in Denver, Colorado.  The country's largest expo features an array of leading-edge service providers, who offer valuable resources to the credit and accounts receivable community.During August 7-9, 2017, Commercial Collection Agencies of America will meet credit practitioners at CRF’s Expo and Credit & Accounts Receivable Open Forum in Denver, Colorado.  The country's largest expo features an array of leading-edge service providers, who offer valuable resources to the credit and accounts receivable community.

In booth #36, Commercial Collection Agencies of America staff will network with the country’s leading risk management professionals and will distribute statistical reports of the collection industry, which are useful tools in credit departments, amongst sales staff and with C-level executives.

Over 80% of the agencies who will exhibit at the Expo hold a Certificate of Accreditation and Compliance, granted by Commercial Collection Agencies of America, by adhering to the rigorous requirements of the industry’s superior certification program.

In fact, Credit Research Foundation endorses the certification program of Commercial Collection Agencies of America as the prototype and standard for third party commercial agency membership within the Foundation.

The Platinum Partnership of CRF and Commercial Collection Agencies of America is an example of the collaboration of two esteemed organizations which offer the highest level of education and resource to their communities.

Whether attending the Expo or not, credit personnel should make certain their third party receivable resource is a member of Commercial Collection Agencies of America.  By using a certified agency, firms ensure that their outside source is amongst the most experienced, ethical and knowledgeable agencies in the United States.  Agency members protect firms’ bottom lines and restore billions of dollars to the economy, while upholding the professionalism in the commercial debt industry.  

07. 03. 17

(The following article was published in Credit Research Foundation's 2Q 2017 News.  Commercial Collection Agencies of America is a proud Platinum member of Credit Research Foundation!)

By Annette M. Waggoner, Executive Director
Commercial Collection Agencies of America

When a creditor places a delinquent receivable with a certified commercial collection agency for collection, the creditor may authorize the agency, when necessary, to retain an attorney in the area where the debtor is located. The attorney is selected by the creditor and/or the agency with a specific provision that a lawsuit will not be filed without the creditor’s prior authorization. It is incumbent on the creditor to determine whether the likelihood of recovery on the claim, and the probable amount of recovery, will justify the time and expense of litigation. Consultation by an agency and attorney can assist in that task.When a creditor places a delinquent receivable with a certified commercial collection agency for collection, the creditor may authorize the agency, when necessary, to retain an attorney in the area where the debtor is located. The attorney is selected by the creditor and/or the agency with a specific provision that a lawsuit will not be filed without the creditor’s prior authorization. It is incumbent on the creditor to determine whether the likelihood of recovery on the claim, and the probable amount of recovery, will justify the time and expense of litigation. Consultation by an agency and attorney can assist in that task.

The agency and attorney can evaluate the claim for suit worthiness, establish the viability of the corporate entity (and personal guarantor, if applicable), determine if the statute of limitations has expired, examine the risks of initiating a law suit and discuss the willingness to defend a counterclaim if brought against the creditor.

Agencies forward claims to a network of attorneys across the United States and abroad. The advantage of using an agency’s network is that attorneys receive many claims in their locale from the agency and represent many of the agency’s clients. A tenured, certified commercial collection agency has long-standing relationships with attorneys who specialize in creditors’ rights within each state. These relationships ensure that the attorneys handle each matter in an expeditious manner, represent the creditors with the utmost professionalism and provide detailed and timely reports of progress throughout the life of the lawsuit.