You will encounter all kinds of past due and disputed debts during your career as a commercial debt resolution specialist. Using my time tested and proven techniques to negotiate discounted settlements for your debtor business clients will result in successful resolutions for most of your cases. However, you will not be able to resolve every case.
Although it is usually in the best interest of BOTH parties to compromise and settle these disputes for an amount less than claimed, some creditors will still demand payment in full without a discount or payment terms.
This is just part of our profession and should not be viewed as failure on your part.
Once you have been informed by a creditor or their agent that they are firm in their demand for full payment, you should quickly notify your client of such. If there is a lawsuit pending, encourage your client to retain competent legal counsel to address the situation as soon as possible. Of course, you will need to quickly refund any retainer you have received for these cases.
Most cases you encounter can be resolved to the benefit of your client (and the creditor business) and substantial fees can be earned for your valuable service. But, do not be surprised or discouraged if you eventually encounter cases that you are unable to resolve. It's just part of the business.
Scott F. Soape
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