How to Select a Collection Agency

businesspeople_handshakeEveryone is having a hard financial time. It is hard to make payments on time, to pay off bills that are due and pay new bills. But when bills go unpaid it is hard for businesses to make their own overhead cost and stay in business. This is when a business owner should consider using a collection agency to help offset their cost by assigning past due debts from customers for the agency collectors to work on.

Unpaid bills are not a disaster if you select the right collection agency for your needs. The agency will pursue old debts you thought were hopeless and help to increase your overall income. They have the time and training to bring in payments on unpaid debts you had given up on. No matter how you feel, collection agencies have a wonderful place in society today and are the answer for many business owners and their customers.

Collection agencies offer a selection of collection options. Finding the right option for you and your customers involves making the correct decision to pursue unpaid debts and still maintain your client base. There are many collection agencies that will provide services by taking your debt overhead and working on a percentage basis of final collection. They will take on accounts at 50% for unpaid debts to place back into the company accounting system which is better than no funds. Select an agency that is known for high collections without crossing the line of the client’s rights. Good collectors are known to be persistent, but willing to work with customers to create a personal repayment plan that suits their income and your needs.

AccountsReceivable.com maintains two tiers within its collection process. The first is dedicated to an amicable resolution of the debt, while the second is focused on legal proceedings that are designed to help enforce and collect the debt. Check the company background for issues regarding their record with the FDCA – Fair Debt Collection Act- and make sure there are not many charges against them. Your collection agency should be able to provide monthly records and statements, along with any payments from efforts made on your accounts for the month. Assign a limited number of accounts to begin with and after the first month make a final decision based on the success rate of that month. Maintain contact with the agency in order to follow their success rate and customer service.

For a FREE NO OBLIGATION QUOTE please fill the form out below this article or call AccountsReceivable.com today at 321-710-3530 to determine if we are the right firm for your debt recovery needs. The best part is, if we don’t collect, you owe absolutely nothing!

To get started today, call 321-710-3530 to speak with an associate or fill out the form below.

What is a Collection Agency?

2077646_Business-Finance-Corporate-General-Paperwork-700What is a collection agency? This is a question asked by many business owners. Basically, collection agencies provide their services to business owners looking to collect money due from customers. Almost every company in existence has experienced providing their services or products to multiple non-paying customers over the years. Lying customers such as these are especially frustrating and downgrading for a company, not to mention potentially dangerous to a business’s success. This is where a collection agency comes in.

To acquire these services, you must first hire a collection agency. Once you hire them and give them some details of the non-paying customers, their professionals go to work while you go back to developing your company and attracting more customers. Professionals in a collection agency work hard all day calling customers in order to collect money due. Once a collection agency manages to collect money, they take a relatively small commission while you get the most benefits.

Hiring a debt collector will save you an abundance of time that you otherwise would be spending trying to get customers to pay you. Time that is better spent trying to make your business flourish. If you decide to try collecting money yourself, you will likely take double or even triple the time a debt collector takes to collect money. A professional debt collector is trained and provided with resources to collect money from non-paying customers, while you’re likely not.

A collector will also save you money. They make sure that you get the money that you’re rightfully owed. If your company provides services or products, but isn’t paid for doing so, your business is losing money. Yet, if a collector steps in and manages to get the money, you’re still making a profit despite the commission, and will therefore be able to keep your business afloat.

AccountsReceivable.com maintains two tiers within its collection process. The first is dedicated to an amicable resolution of the debt, while the second is focused on legal proceedings that are designed to help enforce and collect the debt. One of the best qualities of a debt collector is the fact that you only pay depending on his or her performance. Collectors only earn a commission on the amount that they get back. If you hire a collector who doesn’t manage to collect any business debts, you owe nothing. This encourages collectors to work harder so that you can get the money due and they can get their share.

There are many businesses out there that are sinking due to non-paying, dishonest customers. The best solutions to this ever-existing problem are collection agencies that will make sure that the money due will get to your pocket one way or another.

For a FREE NO OBLIGATION QUOTE please fill the form out below this article or call AccountsReceivable.com today at 321-710-3530 to determine if we are the right firm for your debt recovery needs. The best part is, if we don’t collect, you owe absolutely nothing!

To get started today, call 321-710-3530 to speak with an associate or fill out the form below.