Commercial Collections

This service consists of a letter on NACM Heartland letterhead to your debtor demanding payment. There is no charge provided payment is reported prior to the expiration of the ten-day period. At the expiration of the free demand period, the account’s unpaid balance will automatically transfer to personal service.

PERSONAL SERVICE

This service includes contact with your customer by facsimile, letter, telephone, or personal call at the place of business. This reduces the necessity of litigation, resulting in faster settlements. The rate for this service is 20%, minimum fee of $50.00. All fees are contingent upon collection.

ATTORNEY SERVICE

Bonded attorneys specializing in the collection of commercial claims are selected for you. Except in special circumstances, the rates recommended by the Commercial Law League of America will be charged by attorneys. The rate, including our service charge, is 30 %. Where suit is necessary, the service fee increases to 40%. All fees are contingent upon collection.

REPORTING

We feel reporting is a critical component of any quality collection service, and we have heavily invested in our collection system and reporting tools to provide our customers with high quality reports. All reports can be sent via email. Sample reports include:

• Account Portfolio – Details all accounts currently placed for collection and those that have been closed during the time period of the report.
• Acknowledgement Report – Shows all accounts placed during the time period.
• Closing Report – Shows all accounts closed during the time period and includes recovery success rate, fee percentage, and days placed.
• Collection Report – Lists all collections processed on accounts during the time period.

When necessary, we are committed to creating custom reports for our clients. Just let us know what information you need and we will work with you on providing that in a timely fashion.

TRUST

All collected funds are placed in a segregated trust account.