Dealing with Non paying customers can be a challenging task for a business. While businesses need to get paid for their products or services they also do not want to alienate their customer base. Debt Collection Industry veterans have identified 5 flags that are telltale signs that it is time to seek professional help in dealing with non paying customers.
ORLANDO, Fla., May 9, 2019 /PRNewswire-PRWeb/ — Every business struggles to deal with customers who do not pay their bills. Whether you contact them and they provide excuses, or you simply are unable to reach them, these customers leave your books unbalanced and cut into your profit margins. Hiring a commercial collections agency can help you recoup these lost funds without paying thousands of dollars to an attorney with no guarantee of results. One of the hardest decisions a business can make is when its time to turn a customer over to collections. Accounts Receivable (AccountsReceivable.com) is an industry leader in debt collections and has compiled a list of warning signs that should act as red flags for business owners when deciding to turn a customer over for collections.
1. Dodging Calls: You call, over and over again but cannot reach your customer.
2. Check is Always in the Mail: The check has been in the mail for weeks but you still don’t have it.
3. Your Contact is Never In: Every time you call for the owner or manager they are conveniently “Not In”.
4. Bad Checks: You have received an NSF check or a Credit Card that has declined.
5. Waiting to Get Paid: Your customer keeps saying they will pay….when they get paid.
All of the above actions should be clear indicators that it is time to use a debt collection agency. Collection agencies have advantages at collecting from nonpaying customers that normal businesses do not have. Professional debt collection agencies like Accounts Receivable are able to locate assets and information on companies that owe money to their clients. They are able to use this as leverage to collect and typically do not charge if they are not successful. Top-notch debt collection agencies also staff expert negotiators that are trained to handle disputes, excuses, and arguments maximizing the amount that is collected.
The bottom line is 3rd party intervention is often what resolves the situation. When a business owner is still reaching out to a non-paying customer they are really signaling that they are not prepared to take the next step.
If you are a business owner and are experiencing any of the above scenarios click to visit our website to learn more.