At Hammerhead Debt, we take a very different approach to the entire commercial collection agency model, from utilizing our hammerhead attack on deadbeat businesses, to the methodology we use for paying our clients.
A typical commercial collection agency charges their clients a fee of 15-45% of all monies they collect “on your behalf.” If they are unable to collect the money owed, then you pay them nothing, and unfortunately, you receive nothing.
At Hammerhead Debt, we pay our clients an upfront cash payment for each piece of qualified bad debt receivables they sell to us. Our historical cumulative average payment to clients has been 50-79% of the sworn value of the bad debt they were owed; which is dependent on the type of bad debt receivable or default contract/lease you are owed for. And if for some reason we are unable to recover the bad debt we purchased from you, then the upfront cash payment is still yours to keep.
In order for a bad debt receivable to qualify for our program, it must meet a few basic criteria:
A. Your deadbeat customer must still be in business.
B. There must be written documentation from your customer authorizing the order. That could be in the form of a purchase order, email, lease, or contract.
C. There must be proof that the purchased goods were delivered to your customer, along with a few other criteria.
In order for us to issue a purchase proposal, we will need to first speak with you about each bad receivable/invoice in question.
If you have questions about our program, or you would like to receive a proposal of our rates, please click here (Hammerhead Rates – Hammerhead Debt) to go to our Contact Us page.