Tucker Albin and Associates tells Businesses to be Wary of these 3 Claims from Debtors

Doing business sight unseen is a risky proposition. Transactions between businesses typically go off without a hitch and both parties profit in the process, but it is important to acknowledge that there are several ways that business relationships can sour as it pertains to the financial side of things. When one group stops living up to its financial obligations, debts go unpaid and problems quickly arise. When one merchant starts skirting its duties to repay those it does business with, businesses call Tucker Albin & Associates to get a wholistic understanding of the situation and collect the balance that is owed to them. This commercial debt collection agency has earned a reputation for getting results when other firms fell short and debts remained on the books. While Tucker Albin is an adept business-to-business debt collection firm, it does not deal directly with private individuals. The firm acknowledges the importance of consumer debt collection but recognizes that there are other companies that can handle those needs. In situations such as one where a food service vendor’s recent shipments have gone unpaid and they wonder if they have grounds to collect, Tucker Albin and Associates can assist with the logistics of proceeding with the collection process.

Understanding what constitutes negligence is crucial knowledge for companies that specialize in debt collection. To that point, there are some tell-tale signs of negligence that Tucker Albin and Associates know to look for. While the firm is sensitive to the fact that a large loan may have been taken out and immediate repayment is difficult, negotiations will come at a later point after establishing all of the important details of the case at hand. What Tucker Albin & Associates wants clients to be aware of are the following tell-tale signs of a business not living up to its end of the contract.

Doubling down

If a business you entered into a financial agreement with has told you they are taking out a loan to cover debts, it is time to get concerned. In fact, it may be the right time to talk to Tucker Albin for expert advice on how to proceed with the situation. This type of behavior exemplifies poor judgment and it is also bound to burden the business with even more debt. Tucker Albin and Associates realize that, if a company you are doing business with gets themselves into even more high interest debt, the odds that they pay the balance that they owe fall considerably.

Negotiation timeline

Whatever window there was to work out repayment agreements, it has since shut. Tucker Albin and Associates can step in to inform the debtor that recovery is sanctioned by laws at the state and federal level. While this allows commercial debt collection agencies to go after unpaid bills, it also exposes the entity in debt to legal penalties – which they will likely want to avoid. Debtors tend to pay in situations where they realize there will be ramifications if they choose not to, and this greatly improves one’s ability to collect on past due balances.

Dishonest practices

There are many examples of businesses trying to kick the can down the road, so to speak. Typical examples of this, which Tucker Albin and Associates have seen on numerous occasions, include threats of declaring bankruptcy, lies about repayment being sent through the mail, disputing invoices, claims of defective products, and general disputes that could further impede the repayment process. The only way to determine if any of these claims have any merit is to hire Tucker Albin & Associates to investigate. Tucker Albin & Associates can help to ascertain the legitimacy of claims that appear as though they may be dishonest. This may serve to pave the way for a constructive interaction that can get debtors the money owed to them in a time window that works for their situation.