Rate sheet
| Rate | Applies to |
|---|---|
| 12% | Premium Discount Rate. Applicable to ALL accounts $25,000.00 and up, regardless of age or previous legal/collection agency action, our PREMIUM DISCOUNT RATE is designed to save your company collection expense for those instances in which legal action can be avoided. |
| 15% | Preferred Account Rate. Same terms as our PREMIUM DISCOUNT RATE (and the same money-saving reasons for taking advantage of this rate!), but applicable only to accounts from $2,500.00 to $24,999.99. |
| 25% / 20% | Regular Rates. 25% on the first $2,000.00 and 20% on the excess. Minimum claim size: $1,500.00. Minimum fee: $75.00. |
| 50% | On accounts over one year old, less than $2,500.00, or in which prior collection agency or legal action has been taken. |
Applicable to all claims
In addition to the rate sheet above, the following is applicable to all debt collection claims.
Automatic ten day demand service
No need to request this (only to waive it!), as there is no fee on what debtors pay during this period. At the expiration of the ten days, we guarantee that the lowest rates for which your claims qualified at the time of placement will apply to all subsequent collections, exclusive of legal action.
Legal action
Please note: If legal action is necessary, claims accepted at less than Regular Rates are forwarded to counsel at Regular Rates, as shown above, due to the necessity of involving counsel.
Returns
For merchandise returns, we apply the applicable rate to ONE-HALF the invoice value of the return.
Settling for less than the balance due
For accounts on which the creditor has agreed to settle for less than the full balance unless legal action has been taken, the rate for which your claim qualified at the time of placement is the only rate that will be charged, and only on the amount actually collected. For settlement payments mailed to us, we will also furnish you with copies of your debtors’ settlement checks!
Account withdrawal
Once placed for collection, an account may not be withdrawn without full payment of the collection fee, unless withdrawn the same day the claim is placed AND prior to our either mailing or emailing a notice to your debtor. Or if the free demand is waived, after making phone contact with your debtor.
About our rates
Our 12% PREMIUM DISCOUNT RATE and 15% PREFERRED ACCOUNT RATE are designed to drastically reduce your company’s overall collection expense in three ways: First, by matching your larger claims to a proportionally lower, contingent collection rate, you have the opportunity to effect collection at a very modest cost and in a timely manner. Second, if legal action does become necessary, the superior quality of our documentation guarantees that your decision to pursue certain of your debtors via suit can be made with total confidence. Third, and conversely, our documentation will in many instances, just as clearly demonstrate the uncollectibility of some of your accounts. This valuable service, which is available to you at absolutely no cost, further mitigates your company’s overall collection expense by saving you from any further, that is legal, expenditures on unmistakably hopeless matters.
10% introductory rate
We want your debt collection business. It’s as simple as that. To earn that business, we offer an industry-changing 10% introductory rate. Here are the requirements to qualify:
- NEW clients only, this is your first experience with us, give us a try. Applicable to all claims placed the first 90 days. The rate is unalterable, no matter how long it takes to collect unless legal action is required.
- Claims must be less than a year old
- Claims must be greater than or equal to $1,500.00
- Claims must not have been previously serviced by another collection agency
- Claims must be COMMERCIAL DEBT COLLECTION. Commercial Receivers is not involved in consumer or retail collections.
- These rates do not apply if legal action is required. If legal action is required, see our rate sheet.
Includes automatic Ten Day Free Demand Letter. If legal action is required, claims qualifying for less than Regular Rates are forwarded as follows: 25% 1st $2,000.00, 20% excess. Minimum claim: $1,500.00.
PLEASE PROVIDE ALL PERTINENT DOCUMENTATION INCLUDING STATEMENT OR AGING , INVOICES (IF NOT VOLUMINOUS), CONTRACT, GUARANTY(S), CREDIT APPLICATION , AND CHECK COPIES , AS AVAILABLE.
Placing a claim
Call (804) 346-0302 ext. 222, email cew@commercial-receivers.com, or download the claim placement form (PDF).