Commercial liability debt collection and worker's compensation debt collection are both complicated processes that include a variety of practices, procedures, and legalities to recover the debt. Due to the complex nature of these debt collections, it is important to have a reputable collection agency handle these types of claims for you. At CMCS, we can handle any commercial liability debt collection or worker’s compensation debt collection due to our professional customer service team.
When considering a debt collection service for your business, it's important to understand what commercial liability debt is. Commercial liability debt is money a business owes to creditors. For instance, if a local company opened commercial lines with many creditors, the amount of items bought with the credit is the company's commercial liability debt.
Collection agencies can represent self-insured employers or insurance companies in worker's compensation debt collection cases. It is important that the debt collection agency you choose handles these types of claims with a good understanding of ADA (Americans with Disabilities Act) laws. ADA laws are discrimination laws that are often involved in worker's compensation claims.
If you are involved in worker's compensation debt collection dispute, you need to know your rights. While people's rights in worker's comp cases vary by state, there are many commonalities between states. For instance, in most states, it is unlawful for medical practices, hospitals, or diagnostic service providers to seek payments from an injured employee directly. Instead, worker's compensation payments need to be made directly by the insurance company handling the claim. Medical providers that are having a hard time collecting medical payments owed to them as a result of worker's compensation claims can benefit from the use of debt collection services.
Whether you need help collecting on a worker's compensation claim or need commercial liability debt collections, we can help at CMCS. Contact us today to talk to a professional customer service representative about how we can help you collect on commercial lines of credit or a worker's compensation claim.
Collecting bad debts in commercial industries requires a certain finesse that not all collection agencies will possess. Contrary to popular belief, collection agencies are not out to put other companies out of business. One way to protect the client's interest without devastating another business is to come up with creative repayment plans that include securities and guarantees.
One of the reasons so many commercial businesses choose to use debt collection services is because it allows them to stay more competitive. In most situations, your competition will use some advantage to decrease their costs and improve cash flow. To stay competitive with these other businesses, it is important to do the same thing. The best way to decrease cost and improve cash flow is to have an outside agency handle your bad debt collections, which will decrease write-offs.