Collect Now connects small businesses with attorneys that specialize in collecting overdue liabilities. It is an online marketplace that empowers small businesses to identify and engage law firms with proven track records and licenses in specific jurisdictions throughout the U.S.
How does Collect Now work?
The Collect Now process is simple, straightforward and speedy.
A small business submits a standardized online form which includes items including debtor information (name, address), dollar value of liability, length of time past due and jurisdiction governing the collection matter.
Participating collection law firms and attorneys browse submissions to determine which leads to examine more closely.
When a law firm concludes that a particular lead fits its criteria, they then submit a proposal to the business to handle the collection case.
The business can then browse the proposals submitted and choose which attorney they would like to engage to collect their claim(s).
How did the idea for Collect Now come about?
Small businesses commonly rely on local attorneys whenever the need for legal counsel arises. They may have longstanding relationships in place with nearby legal practices, or they may rely on local business directories and/or word of mouth to identify attorneys qualified to handle specific matters. Local counsel is often capable of addressing most small business needs, including collection of liabilities from delinquent in-state customers.
Local attorneys are typically not effective in pursuing unsettled liabilities from out-of-state debtors, however, because law firms are permitted to file suits only in states in which they are licensed. If the jurisdiction lies in another state, therefore, the business must retain an out-of-state law firm. In such situations, small businesses face the complex and time-consuming process of identifying, contacting and engaging distant law firms. The challenge is magnified for small businesses with multistate client bases. Currently, there is a lack of simple, speedy, transparent, cost-effective means of procuring the services of out-of-state collection attorneys. Collect Now solves this problem. Small businesses gain a timesaving, cost-effective means of settling outstanding out-of-state accounts, while collection attorneys gain access to a nationwide market of small business clients.
What other services is Collect Now compatible with?
Currently, businesses are allowed to import claims from QuickBooks into the Collect Now marketplace for collection. Going forward, we plan on enabling importing from additional accounting platforms.
Are there any costs to join or monthly fees for businesses to participate in the Collect Now marketplace?
No. There are no costs to join and no monthly subscriptions. It is completely FREE for businesses to use the Collect Now platform.
Do businesses pay a fee to list their collection claims on the Collect Now platform?
No. It is completely FREE for businesses to use the Collect Now platform. Whether they wish to list a single claim or their entire accounts receivable portfolio, businesses will be able to do so at no cost.
Do attorneys pay to participate in the Collect Now marketplace?
There is no cost for attorneys to create a profile. Because Collect Now is creating the collection marketplace and advertising on their behalf to generate the posting of claims, participating attorneys pay Collect Now an engagement or connection fee if, and only if, the business accepts the attorney’s proposal to handle the case.
Are there any costs to join or monthly fees for attorneys to participate in the Collect Now marketplace?
No. There are no costs to join and no monthly subscriptions. Attorneys only pay an engagement or connection fee if, and only if, the business accepts the attorney’s proposal to handle the case. If your bid to represent the business is denied, you don't pay anything.
What is Stripe?
Stripe is the third-party credit card payment processor used by Collect Now to process fees.
How do I request a refund?
To request a refund of any engagement or connection fees paid, attorneys should contact customer service by email at email@example.com. All refunds must be requested within 14 days of the payment of the fees. Collect Now reserves the right to require production of documentation supporting the refund request. Collect Now will make every effort to resolve the situation to your satisfaction.
Is Collect Now a lawyer referral service?
No. By maintaining the Collect Now platform, Collect Now is not referring businesses to any particular lawyer. Collect Now does not endorse or vouch for any of the lawyers on the platform. Businesses are free to choose which attorney, if any, they would like to handle their collection claim(s).
Does Collect Now split fees with lawyers?
No. Lawyers are entitled to the entire legal fee (100%) for the services they render for businesses. As a completely separate transaction, attorneys pay Collect Now an engagement or connection fee if, and only if, the business accepts the attorney’s proposal to handle the case. Such fee is paid regardless of the case outcome and is not contingent upon collection of the claim(s).
Who can I contact if I have any questions about the Collect Now platform?