FREQUENTLY ASKED QUESTIONS

WHAT IS A COMMERCIAL DEBT OR CLAIM?

 A commercial debt is created with a transaction for an obligation to pay for goods and services used in the conduct of a business or a profession. Mercantile Commercial Service is a business collection agency that collects commercial past due debt. 

WHAT ARE THE CHANCES OF COLLECTING ON A SPECIFIC ACCOUNT?

 Some of the factors that influence collection are Age, Amount, Location, Legal Composition and Contract Terms. Mercantile Service reviews your documentation and details on the account and presents the collection options and the best course of action for recovery. Trust Mercantile  Service to assertively pursue collection on all accounts. On average, a six months delinquent commercial account has a 65% chance of collection, a twelve months delinquent account has a 23% chance of collection.

HOW FAR PAST DUE BEFORE ENLISTING THE SERVICES OF A COLLECTION AGENCY?

Mercantile Service programs are designed to assist clients with in house collections and PROFIT RECOVERY STRATEGIES to maximize collection results. Many Mercantile Service programs are free of charge. When collection assistance is necessary the placement of accounts is determined by client controlled parameters.

CAN I COLLECT OR FILE SUIT WITHOUT A SIGNED CREDIT APPLICATION OR DELIVERY RECEIPT?

Yes! Mercantile Service has the knowledge and expertise to research, investigate and evaluate the customer and implement a course of action for collection. The sales transaction creates an obligation for your customer to pay you.

THE CUSTOMER IS IN ANOTHER STATE, NOW WHAT?

 Mercantile Service collects nationwide and worldwide. Our network of agents and attorneys provide coverage no matter where your customer is located. Wherever you sell, we collect.

WHAT IS THE FEE TO HIRE A PROFESSIONAL COLLECTION SERVICE?

 Our collection Fees are contingent upon actual collections and are a percentage of actual monies collected. Investigative and skip tracing services are no charge to our clients. You can obtain our fee schedule by contacting our office. 

 WHAT IF THE CUSTOMER DOES NOT PAY? HIRING AN ATTORNEY IS EXPENSIVE.

 Our network of Collection Specialist Attorney Firms across the country will provide legal remedies on a contingency collection basis.  Usually court costs and a small non contingent fee are required to commence litigation. All attorney firms are bonded.

WHY SHOULD I USE MERCANTILE SERVICE?

 Mercantile Service collects locally and nationwide. We are collection professionals and work with our clients  to obtain maximum results from each account. We respect the integrity and goodwill of our clients.  Our network association of attorney firms nationwide  can provide you with coverage no matter where you sell. Mercantile Commercial Service is a Business to Business Collection agency.

WHAT HAPPENS WHEN I SEND AN ACCOUNT TO MERCANTILE SERVICE?

Upon receipt of the account, Mercantile Service will send an acknowledgment to your office on the same day received (accounts received after 5pm will be acknowledged the next day). A written demand for payment will be dispatched that day and a collector will commence with telephone contact on the account. You will receive a monthly report on the status of the accounts and interim written narrative reports on progress and developments. You can call us anytime during business hours for a verbal or written report on the progress of collection.

WHAT OCCURS WHEN THE ACCOUNT PAYS?

When Mercantile Service receives payment directly on your account we will immediately notify you of the payment. The debtor’s check is deposited into our client trust account and once cleared (14 to 21 days) we will remit the proceeds (amount collected less our fee) to your office. Mercantile Service is licensed and bonded.

If the account sends payment directly to your office, notify us of the amount received and we will issue an invoice to your office for our collection fee.