We are specialists in large claims with nationwide service. Dean Kaplan personally handles all large claims, using his 30 years of experience closing over $500 million of business transactions worldwide.
The Kaplan Group is a commercial collection agency, which means we only collect on business to business accounts receivable. We will collect against individuals if they are personally liable for a business debt.
Debt collectors take a very different approach on a commercial claim than a retail claim (e.g. against an individual for credit card or medical debt as an example). In our decades of experience, we find that most debt collectors that start off as retail collectors really struggle to become great at business debt collection. The mindset is so different when dealing with a professional organization, large corporation, or small business owner versus an individual who can’t pay his bills. Many collection agencies that provide both retail and commercial collections have their debt collectors move back and forth between both types of collections.
Our debt collectors take a custom approach on each claim. They review all of the documentation provided by our clients before making the first call. A great commercial debt collector needs to understand how businesses work and the role of contracts (including sales orders, purchase orders, invoices, return merchandise authorizations, pricing discounts, sales tax laws, freight and shipping charges, returns and return policies, and other general contract terms).
They also try to develop an understanding of the company that owes the money and the individual they are contacting prior to calling. The more insight a debt collector has when performing the collection process, the higher the success rate. There typically are two initial factors that are critical to success – understanding the real reason the debtor has not paid and understanding the debtor’s personality to determine the best way to negotiate with the individual.
Often times debtors do not initially reveal the true reason they did not pay their bill. Getting a debtor to talk is a key part of getting the money, so listening and letting them explain their situation has multiple benefits. We learn about the business, the personality of the person we are talking to, and the names of other people who are involved that we may be able to leverage later. We listen carefully to excuses and explanations, and ask questions to figure out what is real and what is a smokescreen. Catching a debtor in a fabrication or misleading story can ultimately be a powerful tool in accounts receivable collections.
Once we understand the real reason they did not pay, we can come up with a strategy to get the money. We have an 85% success rate with claims against open businesses. This rate is so high because our collectors are highly trained, have lots of experience, listen carefully, and once they have figured out how best to collect, they make it happen.
