Sometimes, a debt will have a “skip,” where a debtor makes frequent changes of address or jobs without informing creditors or leaving a forwarding address. Collection agencies can provide skip-tracing to track down these debtors so you can get paid.
As a business owner, you know how important it is to be able to access ready credit from banks, which means having a low amount of outstanding receivables. Collections agencies help make sure this number is as low as possible to help protect your credit.
Did you know that in 2013, collection agencies recovered approximately $55.2 billion in total debt? They earned close to $10.4 billion in commissions and fees. Removing these agency earnings from the total debt recovered leaves nearly $44.9 billion in debt that agencies returned to creditors.
We are conscientious and professional in our dealings with your debtors. This is because when we contract with you, we are representatives of your company. Our behavior reflects on you, and we want you to maintain the reputation you have spent years creating.
If you’ve recently lost your accounts receivable person, you may discover that no one else is familiar with the system for collections. Rather than taking the time to figure it out and train someone new, you could always send those tasks over to us.
Do you find yourself constantly sending debts to collections agencies? A collection agency can help you collect those debts, but they can do more, too. Many times, they can give you suggestions for systems and procedures to help solve problem areas.
If you’ve had to take another party to court over money they own your business, you may walk away with a judgment against them and little else to show for your time. Let us take over the collection of the account so that you can get something to take to the bank.
Since banks review balance sheets when deciding to make loans or extend lines of credit, it's important to have the least amount of receivables as possible. Be relying on a collection agency, companies keep their customer relationships and their books healthy while improving their credit worthiness.
When a collections agency is trying to collect on a debt, their image and brand is involved, not yours. This allows them to use more aggressive collection tactics than a company would use, resulting in an vastly improve collection rate.
If the routine duties involved with running your business are already keeping you busy each day, it’s easy to let collecting on the most overdue accounts slide. Let’s talk about how sending these accounts to a collection agency can help you to collect on debts without forcing you to work longer hours.
Why use a collection agency? There comes a time when it isn’t profitable to keep up your own efforts on delinquent accounts. It is better to focus on debts that aren’t as old, and let the collection agency worry about recovery of old debts.
The squeaky wheel often gets the grease. That's a saying that definitely applies to debt collection. A customer with several bills will generally pay off the ones that are closest to entering a legal situation.
Think only large companies hire collection agencies? Think again. We work with businesses of every size to get the money they are owed.
If you’re reluctant to pursue outstanding debt, remember these words from the Credit Research Foundation: “The debtor has an obligation to pay within the terms of the agreement. It is the job of the collection person to make sure that this obligation is met.”
You'll be pleased with the way we conduct our business, and we're happy to talk to you about any complaints we have received about our work practices.
Your accounts receivables staff has a lot that they need to take care of, and while collections is part of their job, it doesn't always make sense for them to devote time to tracking the debt down. Using a collections agency lets them spend time where it's needed most.
Many collection agencies work with collection attorneys who may recommend filing suit. Collection agencies can help you make an informed decision on when to file suit against a debtor by searching public records and outstanding judgments.
Unfortunately, getting a judgment against someone in court doesn’t necessarily mean you’ll get your money in an expedient manner. When you need a little help collecting on the judgments you’ve won, we may be able to help.
For many types of businesses, building and maintaining a strong relationship with customers is the key to continued revenue. When you can’t afford to let collection calls get in the way of the relationship, we’re always happy to lend a hand.
Did you know that it is more profitable to use your own collection efforts for the first 60-90 days after a debt is due? After 90 days, the chances of recovery diminish and require more effort.
A business should never sit on their commercial debts. When sent to a collections agency, 1/3 of commercial debts can be recovered immediately, and another 1/3 can be collected over time. The sooner you get the debts to a collections agency, the better the odds are of collecting.
We recognize that not everyone is comfortable calling their customers about past due accounts. Let’s talk about how we can take that responsibility off your plate, so that you can stay focused on what it is you do best.
Are you willing to make payment arrangements with your past due customers, yet lack the time to manage them? Depending on your customer’s financial situation, we may be able to work out a payment plan and ensure they follow through.
Are you running into a brick wall with your own collection efforts? Sending a debt to collection gives the debtor a clear message that delinquency is not tolerated. Many times, simply assigning an account to a collections agency is enough to get the account repaid.