Frequently Asked Questions About Debt Collections

A: No. We provide all our commercial collection services on a contingency basis – we get paid only if we collect money due to you.

A: A commercial collection agency provides debt collection services for business-to-business transactions. Suppose it was a business-to-business transaction with a sole proprietorship (e.g., not a corporation or limited liability company). In that case, a commercial collection agency can also attempt to collect directly from the individual owner and the company that ordered the product or service. If an individual provides a personal guaranty to a corporate or LLC liability, then a commercial collection agency can also collect from the individual who provided the personal guaranty.

A: Yes. An account receivable from a business that resulted from providing a product or service is referred to as a debt once a collection agency has been assigned to assist in recovery.

A: Being local is not critical when it comes to debt collection. The effectiveness of a commercial collection agency is determined far more by the background and training of the collectors, the collection approach, persistence, timely follow-up, and ferreting out myth from reality. Most work is done over the phone or by fax; most research is done via the Internet and phone – so location is not a factor. Wolf & Aid Collection Agency provides commercial collection services to clients from all over the U.S. and the world on debtors located throughout North America.

A: We provide debt collection services throughout the United States and North America.

A: There is no fee unless we collect your money. As each situation is different, we need to speak with clients to determine if our extremely competitive standard rates apply (10% to 25%) or if exceptional circumstances may enable us to discount our regular rates.

A: We will provide debt collection services in amounts as small as $1,000 for our regular clients. For new clients, the average claim size needs to exceed $5,000.

A: Over the years, we have helped collect million-dollar obligations. On claims larger than $100,000, we discuss with clients the best approach (commercial collection agency first or direct to an attorney).