Case Study 1: $200k recovered for Hemp/CBD Producer

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$200K Recovered for Hemp/CBD Producer

A Brief CannaBIZ Collects Case Study

Some time around July of last year, a large Hemp/CBD manufacturer approached us asking for help and advice. They had several large accounts on their books that were way beyond 90 days past due. When they called, they had five accounts past due (with another three aging past due in the coming months). Three of these accounts were each over $75,000, with the rest totaling another ~$50,000 (to save you time on the math in your head, there was a total of ~$275,000 outstanding past due).

There were no explanations of non-payment from any of their debtors, nor would they take our client’s calls. Not sure what to do, and feeling backed into a corner, the CBD manufacturer decided enough was enough. 

 

They called for backup.

 

Just like you or your business would call your accountant for their expertise in taxes & book keeping, the CBD Manufacturer came to CannaBIZ Collects for our expertise in collections and debt recovery. After signing a straight forward (cost free) retainer and following our incredibly simple submission process, the CBD manufacturer was able to submit all five past due accounts within 20 minutes. CannaBIZ Collects's expert legal and collection departments took over from there. 

Within 24 hours, CBC had reached communication with three of the debtors. 

Within 48 hours, CBC had gotten in communication with EVERY debtor (and remember, these debtors wouldn't take any of our client’s calls). 

Within 72 hours, CBC was negotiating payment plans with 3 debtors.

Within the following two weeks, CBC had fully collected on 2 debtor accounts with lump payments. 

We currently have the other three on legally binding monthly payment agreements. 

These results are typical and we average ~85% successful recoveries. While CannaBIZ Collects can not guarantee these results, we are the best in the business at what we do and our rates are incredibly reasonable. 

Sound too good to be true? Put us to the test with any of your aged accounts. We look forward to recovering from your most difficult debtor. We hate seeing your cash in the wrong hands. 

CannaBIZ Collects can bring it back. We are the Nation’s Leading Cannabis Collection Agency.

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Cody Ziering