When to Hire a Debt Collection Company
Debt Collection Agency » When to Hire a Debt Collection Company
Are you wondering when the best time to hire a collection agency is? If you have an account that is over 90 days past due, or 120 days past invoice date, it is time to hire a collection agency. It is also time to hire a debt collector if no contact with the customer has been made in that time period. If the customer makes a good faith effort, and tries to work with you, you may want to hold off putting their account into collection.
By the time you are starting to think about sending someone to a debt collection company, they have most likely ignored several invoices, phone calls, and letters. At this point, it is time to send the account to a certified debt collection company. Using a certified debt collector will give you the best chance of collecting your money. One of the most widely known collection agencies, such as RPS Worldwide, will be able to track down this past due debt and effectively recover it for your company.
Some examples of when to call a collection agency are:
If the customer has broken multiple promises of payment, or if the customer refuses to pay by sending a check via overnight delivery.
If the customers telephone number becomes disconnected.
The customer asks over and over for documentation, even though the requested information has been provided previously.
If the customer claims he or she does not agree to the terms of the sale. Unless there is a specific agreed upon terms of sale in writing before the sale, this complaint is not valid.
If the customer says he or she cannot pay due to lack of cash, but refuses to give a date of payment or set up an agreed upon payment schedule.
If a customer claims that the merchandise shipped to them does not meet the terms of the sale, even though there is no proof to support this claim.
If the cost of your employees time to collect the debt do not justify the cost of the debt to be collected.
If you are experiencing any of the above issues it may be time to hire a debt collector. Having a strong relationship with a well respected, certified national debt collector, can help your business easily collect past-due balances. The last thing you want is to make your employees place countless phone calls, trying to collect a past due debt when they could be spending their time doing what they do best, which is make your business more money.
If you are experiencing any of the above issues it may be time to hire a debt collector. Having a strong relationship with a well respected, certified national debt collector, can help your business easily collect past-due balances. The last thing you want is to make your employees place countless phone calls, trying to collect a past due debt when they could be spending their time doing what they do best, which is make your business more money.
We recommend letting a professional National Collection Agency handle your outstanding debts for the most effective and efficient no-upfront cost way to collect on monies owed to you.
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