ROHNERT PARK, Calif.,
June 22, 2020 /PRNewswire-PRWeb/ --
Accounts receivable industry's leading information portal,
NexaCollect, has launched a B2B division that now provides facts
and advice regarding the Commercial debt collection. After
assisting small businesses and medical professionals for over the
years in consumer debt collection (or B2C collection), increasing
demand for guidance on commercial collection agencies was also
observed.
After a detailed consultation with industry experts, a new
section about commercial collection agency facts and figures has
been launched. During this process, a handful of commercial
agencies have been shortlisted to serve the inquiries generated by
potential customers. The selection process of the associated
collection agencies is based on three factors – recovery rate,
geographic location, and experience of staff and management. There
are thousands of collection agencies and debt collection lawyers in
the USA. In the next year, we
anticipate having many more collection agencies that can be
recommended for commercial recovery services.
In January 2020, NexaCollect had
launched a collection agency directory that primarily comprised of
companies which offer B2C recovery; this will be gradually expanded
to include those companies that perform B2B recoveries. Each entry
in the directory consists of address, phone and a brief description
of that particular collection agency. All services and information
presented on the portal are free of cost. We continue to update
sections of the portal as we come across the latest information or
if an agency notifies us about the change in their contact details.
NexaCollect has provided information on medical and dental
collection agencies for over a year. However, the biggest
beneficiaries have been small business owners looking to recover
overdue accounts receivable.
A Commercial collection agency is not covered under the Fair
Debt Collection Practices Act (FDCPA) laws. FDCPA is meant for
consumer collections only. There is a separate set of rules for
commercial collections, and they vary by state. Nearly all agencies
offering commercial recovery services have an in-house attorney or
a partner law-firm that are associated with them.
In the past few months, the debt collection activity had been
negatively impacted due to the various laws that were enacted by
many states amid the coronavirus pandemic. Moreover, due to the
lockdowns in many parts of the country, many businesses had
deprioritized their accounts receivable activity as well.
New York was one of the states
severely impacted by the virus and experienced near-zero debt
collection activity for many weeks.
The launch of the Commercial Collection section on the portal
will benefit companies who have unpaid invoices from suppliers,
clients and service providers. Compared to consumer debt
collection, commercial accounts experience a much higher recovery
rate. Debt collectors can negotiate a one-time settlement or
recover money in installments in a large number of cases.
NexaCollect has assisted several businesses, institutions, and
medical professionals to recover money from their past-due accounts
through its partners effectively.
For any more information contact Jessica at
support@nexacollect.com or call 1-844-Nexa-123
SOURCE Nexa Collections