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Collectronics is resolute in their attempts to collect money while remaining professional. This is important to our company because we are a large television station that values the public image of our company.Closing quotes

Nationwide radio syndication controller

Frequently Asked Questions

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  • What kind of bankruptcy activities does your company handle?
  • What remittance choices do you make available to clients?
  • How do you remit payments to clients or affiliated companies (i.e. weekly, bi-weekly, or monthly)?
  • Does your organization have the ability to incorporate collection charges imposed by its clients?
  • What options for payment terms are available (e.g., early payment discount if applicable)?
  • What type of bonding and insurance coverage do you maintain? Is your company bonded and insured for errors and omissions?
  • What other costs would we incur doing business with you?


GWCB and its affiliates process all bankruptcy claims filed on behalf of its clients with regard to its account placements at no charge.

In addition, GWCB takes steps necessary to obtain relief from the bankruptcy court to pursue its claims, when such relief is appropriate.

If the obligation is of a type that may not be discharged in Bankruptcy, GWCB will pursue such claims in the bankruptcy court to have them declared non-dischargeable. Such claims include fraud claims and conversion claims.

If judgment was obtained before the debtor files bankruptcy and the judgment is secured or if the creditor has a security interest, GWCB will take the steps necessary to protect the secured claim. For example, often GWCB has obtained a judgment and filed a lien. Often, such liens pass through the bankruptcy and the debts are collected by GWCB.

On preference issues, GWCB'S general counsel, of more than fifteen years, has provided legal services to many of GWCB'S clients on an hourly basis in assisting it with specific preference issues.

In providing collection services to its clients, GWCB currently has established a gross remit policy with its clients subject to the number of accounts assigned based upon the volume of assignments. Gross remit means that all monies collected, after they are deposited into GWCB'S trust account are remitted monthly to the client.

At the close of each calendar month, GWCB submits an invoice for its commission fees to its clients. GWCB can, upon request, establish a separate trust account for its clients in which all monies received from its account debtors are deposited.

t the conclusion of each month, a complete audit of all monies deposited and remitted in this separate trust account are directed to those individuals at its clients who are responsible for reviewing and monitoring such procedures.

GWCB has in the past remitted monthly. Depending upon the volume of assignments, GWCB has the ability to remit weekly, bi-monthly or monthly depending on the client's needs and requirements.

On occasion, GWCB'S clients have requested it to respond to their inquiry regarding the collectibility or recovery of certain collection expenses defined as commission paid to collection agents when collecting delinquent accounts receivable. In particular, it has asked whether or not collection agency expenses or contingency fees are recoverable from account debtors assigned for collection. More Details (PDF)

GWCB, on occasion, provides its clients with account information to assist it in reviewing credit and establishing credit terms and/or policies with potential customers before credit is extended. This includes a variety of information from several sources, including corporation and individual financial evaluation.

The information may include corporate background checks, credit references, previous judgments, current or past lawsuits, security interest liens of others, personal credit history of individuals and further evaluation of applicants on a Nationwide basis, at no charge.

GWCB further offers to its clients educational seminars and workshops at no charge (either in-house or off-site locations). GWCB sponsors and hosts monthly food and beverage industry credit meetings. These meetings are held in strict confidence to assist food and beverage vendors in extending credit and/or monitoring credit already extended to its customers.

WCB maintains an errors and omissions insurance policy for its benefit, security and for the best interests of its clients. GWCB maintains a secondary policy to re-insure its primary policy for added protection to it and its clients. GWCB is bonded by virtue of its membership with the American Collectors Association. Such bond would extend to its customers.

The primary forwarding agent, American Lawyers Quarterly, which GWCB utilizes when forwarding accounts to outside counsel maintains its own bond for the purpose of insuring its customers.

Some states require that collection agencies while attempting to collect a debt be licensed in those states. Since GWCB and its affiliate only maintain offices in California and Nevada, no such licensing or bondings are required in other states or geographical areas of coverage. In those states, GWCB utilizes the services of other law firms when attempting to collect debts and, thus, no licensing is required.

GWCB'S confidence in its performance and ability to collect is evidenced by its commitment to advancing all costs for its clients. This commitment to its clients results in significantly greater recovery and reduced overall costs of collection.

All costs, both pre and post judgment are advanced by GWCB. GWCB does not request the client advance any costs or non-contingent suit fees or any other charges. This alone sets GWCB apart from its competition.