If you are a creditor looking to collect on various claims, it is important to retain an attorney who understands the difference between a “commercial claim” and a “retail claim.” Following the proper procedures and the most effective methods is crucial to successfully collecting the amounts due to you.
A commercial claim arises from an obligation to pay for goods sold or leased, services rendered, or money loaned for use in the conduct of a business or profession. These types of claims include open account, commercial leases, contract, insurance subrogation, and equipment leasing. According to the Commercial Law League of American (CLLA), an average commercial claim is defined as $2,000.
A retail claim arises from any obligation of a consumer to pay money arising out of a transaction which is primarily for personal or household purposes, including transactions for:
- Goods
- Money
- Lease
- Financing
- Property
- Insurance
- Services rendered.
Common types of retail claims include auto loan deficiency, credit card debt, and mortgage loans. Claims that are not retail claims are considered to be commercial claims.
If you are looking for attorneys who will strive to collect your commercial and retail claims quickly and efficiently, contact the Windtberg & Zdancewicz, PLC law firm today.
The attorneys at Windtberg & Zdancewicz, PLC, provide clients with experienced legal representation. We handle many types of business disputes on behalf of both creditors and debtors. Our attorneys handle cases from pre-litigation negotiations through litigation, obtaining and enforcing judgments to collect what our clients are owed. We are experienced in creditor’s rights including garnishments, charging orders, attachment, property execution, trustee’s sales, foreclosures, judgments, judgment collection, domestication of foreign judgments, and creditor’s issues in bankruptcy cases. If you need assistance, or are interested in learning more, please contact us at (480) 584-5660.