Protecting Creditors' Rights
Williams & Williams, Inc. is a commercial collection company devoted entirely to collecting business to business commercial debt. Our professionals have decades of proven experience facilitating the successful collection of business to business receivables.​
Over $3.16 Million In Bonding & Insurance Protection
ALQ BOND – American Lawyers Quarterly $2,000,000
NL BOND – National List of Attorneys $1,000,000
ACA INSURANCE – Assoc of Credit & Collection Professionals $50,000
NCDI BONDS – North Carolina Dept of Insurance $110,000
TOTAL $3.16 MILLION
Professional Liability Insurance
It is essential that creditors utilizing an agency always inquire about liability insurance. Many homeowners will not allow contractors to work on their homes without liability insurance. The companies that Williams & Williams, Inc. represent deserve the same type of protection when working on a creditor’s delinquent receivables. Many collection companies/agencies proclaim they are insured by pawning off bonds as “insurance.” Bonding protects a creditor in the event a “trust agent” or “collection agent” absconds with the proceeds of a collection. Liability insurance is totally different.
​
Professional liability protects a client from any potential wrongdoing committed by a collection agent during the collection process. We exist in a highly litigious society; consequently, we have taken steps to secure this coverage to protect our clients against the risks associated with our collection activity.
​
Since 1985 and after 100,000 plus placements, not once has Williams & Williams, Inc. had to rely upon professional liability insurance to protect a client. We realize that there could always be a first time occurrence, which is why this coverage is in place. This is a necessary “due diligence” responsibility to our clients. Debtors typically are insolvent. An opportunistic debtor could allege wrongdoing when there is no legitimacy to such a claim.
​
Company Operations
We subscribe to a “professional collection code of ethics,” which is mandated by our membership with the International Association of Commercial Collectors (IACC). Williams & Williams, Inc. is a Kentucky corporation in good standing with the Louisville-Metro Better Business Bureau.
Professional Memberships
Professional memberships ensure that quality service standards are delivered to our clients. Our membership in ACA enables us to purchase professional liability, bonds, and other insurance products at affordable rates. Our membership in the International Association of Commercial Collectors and the Commercial Law League of America provides educational, legislative and forwarding needs to stay current in todays ever changing business environment.
Banking
Both statutory requirements and ethical business practice mandates that trust accounts be created and maintained for the exclusive protection of our clients. This means that operating funds of Williams & Williams, Inc. must be kept separate and distinct from our clients’ proceeds. Our bank requires operating agreements whereby the rules and regulations of a trust arrangement must be followed. The specific accounts, as designated by name, reflect these “trust arrangements.”
History
Williams & Williams, Inc. was founded in 1985. Our website address was coined from pleas we heard from credit professionals time and time again – “I don’t care what the debtor says, just COLLECT THE MONEY.” Up to the inception of Williams & Williams, Inc., all agencies charged the same rates inclusive or exclusive of employing a commercial collection attorney to take legal action. The attorney consumes most of the contingent collection fee expense. We thought, why not offer a discount to the credit granting trade between 30% and 40% if an account was collected without the intervention of counsel. The rest, as one would say, is “history.”
