FAQs
Frequently Asked Questions
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How big is the commercial debt collection industry?
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The commercial debt collection industry is a significant sector of the overall debt collection industry. While it is difficult to estimate the exact size of the commercial debt collection industry due to variations in how it is defined and measured, there are several sources of data that can provide some insight into its scope and scale. In the United States, for example, the commercial debt collection industry generates billions of dollars in revenue each year. According to a report by the market research firm IBISWorld, the commercial debt collection industry in the U.S. generated over $11 billion in revenue in 2020. The report notes that the industry is expected to continue growing in the coming years due in part to rising levels of commercial debt around the world.
Globally, the commercial debt collection industry is also a significant sector, with a presence in many countries around the world. According to a report by Grand View Research, the global commercial debt collection market size was valued at $3.3 billion in 2020 and is expected to grow at a compound annual growth rate of 12.7% from 2021 to 2028.
The report notes that the growth of the industry is being driven by factors such as increasing levels of commercial debt, the need for effective recovery of outstanding debts, and the emergence of new technologies and tools for debt collection.
However, it is important to note that the commercial debt collection industry is highly competitive and subject to significant regulatory scrutiny. Businesses engaged in commercial debt collection must comply with various laws and regulations designed to protect debtors and creditors. As such, it is crucial for businesses in the industry to stay up-to-date on any changes to applicable laws and regulations and to conduct themselves in a professional and ethical manner when attempting to collect a debt.
Experts with
Decades of ExperienceOur highly trained, experienced and certified recovery specialists uniquely specialize in commercial receivables recovery.
Our specialty service niche is in the oil and gas industry; from oil & gas mineral lines to liquidating claims, our seasoned, savvy industry veterans know how to get the most for our clients quickly. We can alleviate your worry, frustration, and headache from the pain and frustration of debt recovery to recoup your past due receivables.
We understand your pains in collecting past-due receivables from your past clients. That is why we make it easy to get started by providing a free consultation and service quotation with no further obligation.
Melton Norcross & Associates
Texas’s Top Commercial Debt Recovery Professionals
If you have specific questions about debt collection laws or regulations that may apply to your business, it is recommended that you consult with an experienced attorney or commercial debt collection professional in your jurisdiction. Melton Norcross & Associates are licensed in most states and can assist you with your state’s collection laws and recover your business’s past-due account receivables. As well experienced industry expert, Melton Norcross & Associates provides guidance on how to comply with current laws and regulations and keeps you informed of any changes that may be forthcoming, and provide professional commercial debt collection services to save you time and expense on recovering your past due receivables.
Our Commitment Policy:
NO COLLECTION, NO FEE POLICYMeaning if we don’t collect, we don’t get paid, period. There are no management fee’s or small print for hidden fees.
Oil and gas debt collection is our bread and butter, and no one understands the oil patch or how to collect an oil field receivable better than we do.
As an oil field collection agency in Texas, we have found through experience that in some cases the oil and gas mineral lien and enforcement of it is the most effective way of collecting payment from stubborn debtors refusing to cooperate or pay their respective claims due.
Our Commitment Policy:
NO COLLECTION, NO FEE POLICYMeaning if we don’t collect, we don’t get paid, period. There are no management fee’s or small print for hidden fees.
Oil and gas debt collection is our bread and butter, and no one understands the oil patch or how to collect an oil field receivable better than we do.
As an oil field collection agency in Texas, we have found through experience that in some cases the oil and gas mineral lien and enforcement of it is the most effective way of collecting payment from stubborn debtors refusing to cooperate or pay their respective claims due.
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We Understand Your Goals & Expectations.
At Melton Norcross, our mission is to not only understand your goals and expectations for your collections but to meet and exceed them.
Our highly knowledgeable and experienced team, combined with some of the best resources and tools available for collections, gives you the highest probability of recouping your past-due receivables.