Commercial Security Agreements – – – In addition to collecting bad debts for our clients, we also prepare contracts and Commercial Security Agreements. These contracts ranging from joint pay agreements, collateral assignments, security agreements, mortgages, and pledges help protect my clients from their customer’s possible payment default.
A building material supplier contacted us to secure payment of a long outstanding bad debt. The client did not want to file suit against its customer because of the long outstanding business relationship and the potential for new business.
We promptly prepared a payment agreement and an all asset Uniform Commercial Code security agreement. This helps secure payment of the outstanding debt as well as of future debt.
The security devices that we prepare along with our aggressive commercial debt collection tactics help maximize likelihood of bad debt collection.