Miller, Ross & Goldman
Global Commercial Debt Collection Agency & Legal Network
Global Commercial Debt Collection Agency & Legal Network
In today's fast-paced business environment, maintaining cash flow is vital for the survival and growth of any organization. Yet, one of the challenges that businesses often face is the issue of unpaid invoices. Enter commercial debt collection agencies, the unsung heroes of the business world, who specialize in recovering outstanding debts on behalf of businesses. In this blog post, we’ll break down how the industry’s leading commercial debt agency, Miller, Ross & Goldman, operates.
The beginning of commercial debt collection journey starts with an in-depth consultation between Miller, Ross & Goldman and our prospective client. During these sessions, our Client Services team at Miller, Ross & Goldman, works to thoroughly understand the nature of the outstanding commercial debt obligations. At this point, we will also gain a clear understanding of our prospective client’s previous collection attempts, and responses or payment gleaned from those efforts. We will also communicate all aspects of our 2nd-to-none B2B collection service and discuss our prospective client’s desired performance expectations.
The first important step in our collections process is receiving the collections assignment, and all documents supporting the claim, such as invoices, purchase orders, proofs-of-delivery, etc. To accept a collections assignment, Miller, Ross & Goldman is legally obligated to ensure all assigned amounts claimed are valid, provable obligations owed by our client’s indebted business customers. This stage also includes validating the identity of the debtor and ensuring all details provided are accurate.
Proven effective and professional communication techniques with our client’s indebted customers are the hallmarks of Miller, Ross & Goldman’s B2B debt collection services. The focus here is on contacting debtors through various means, including letters, emails, phone calls, and face-to-face contact when indicated. Emphasis is always placed on maintaining a respectful and professional tone, and ensuring all communications are in strict compliance with ethical and regulatory standards.
When situations arise, where our client’s indebted customers genuinely wish to settle their obligations, but may be facing legitimate financial constraints, Miller, Ross & Goldman will work to negotiate last-resort solutions, to avoid any further loss to our client. Such solutions may involve mutually agreeable payment plans or discussing possible, pre-authorized lump-sum settlements. By acting in a mediatory capacity on our client’s behalf, Miller, Ross & Goldman will often successfully negotiate resolutions that can best serve the mutual interests of both parties.
In instances where negotiations fail to produce desired results and the outstanding amount justifies the move, Miller, Ross & Goldman may suggest pursuing legal action. When such a step is deemed necessary, we will first elevate claims to our in-house law firm, with no increase in our contingency fee. Our in-house law firm often succeeds where collection efforts have failed, especially to the extent that we are then, truly on the threshold of formal litigation. Of course, if an indebted party fails to embrace this final opportunity to honor their obligation, formal legal remedies are the next step, which would then require the debtor to endure additional legal hassles and costs. Miller, Ross & Goldman collaborate with our national network of collection attorneys who also possess successful track records in commercial debt recovery.
One of the cornerstones of Miller, Ross & Goldman's approach is offering complete transparency. Throughout the collection process, clients are kept in the loop with real-time updates on all collection efforts and developments, also accessible via the most robust Client portal ever developed. Our clients have 24/7 access to real-time reporting, including copies of all correspondence and collection call recordings.
It's worth noting that most commercial debt collection agencies, including Miller, Ross & Goldman, operate on a contingency, or “No collection, No fee” basis. Essentially, this means that our earnings are a percentage of the amounts successfully recovered for our clients. This earning structure ensures that our firm’s interests are squarely and directly aligned with our success in the recovery of our client’s distressed revenue from unpaid A/R.
While many agencies follow a static process for commercial debt collection, Miller, Ross & Goldman employ proven strategy dynamics, perfected over our 3+ decades in business, that truly stand out and are reflected in our unmatched performance for now, over 5,000 clients across the globe. Our vast operational network for our valued clients reaches across all 50 U.S. states and over 80 countries.
Commercial debt collection agencies can play a pivotal role in ensuring that their client businesses maintain their financial health and growth trajectory. Our teams at Miller, Ross & Goldman have learned to masterfully succeed in our recovery objectives for our clients, while still salvaging, fostering, and elevating their hard-earned, good business relationships. With an industry leader like Miller, Ross & Goldman at the helm, client businesses can rest assured that their financial objectives, goals, concerns, and expectations are being met and exceeded by the best in the business. Contact us today to request a quote or assign your accounts!