Business owners are successful at running businesses and are often not very good at collecting debts. Using a national collection agency can greatly increase your chances of collecting on judgments. Hiring a debt collection agency allows you to focus on your business and not worry about the hassle and stress of trying to be a debt collector. Debt collectors specialize in collecting debts and have the skills and persistence to get positive results. You would not want a tax accountant working on your plumbing and the same logic applies to debt collection. When you need an expert, you should look into using a national collection agency as they have the skill set that you may be lacking.
Having outstanding judgments to recover can be very costly to any business as you cannot run a business when you are not getting the money that you are owed. Hiring a debt collection company will raise your success rate in debt collection. A debt collector has the ultimate responsibility of getting results and since they are not paid unless they are successful, they will work hard to produce the results you want. Most companies will find that they are able to collect on the majority of debts that are owed to them; however, there will be a percentage of people that, due to a variety of reasons, do not pay. Statistics show that after 90 days, 80% of the people will not pay. Using an outside debt collector will increase your percentage of debt recovery.
Using a national collection agency will also benefit you because the collection efforts are not coming from your business. No company wants to be associated with having to locate delinquent customers. Most successful businesses pride themselves on providing great customer service, and having to track down judgments is not the business model they set out to take on. Using a debt collection company takes your business out of having to be directly responsible for collection efforts and places it in the hands of those that pride themselves on successful debt recovery results.
As business owners, we need results in the world of collections and a national debt collection agency can provide you the results that you need. Debt collection companies are staffed with employees who are trained and able to collect the debts that you are owed. Sound business planning requires that you collect money that is owed for services or goods provided; debt collection should be a part of your business planning process.To get started today, call us at 321-710-3530 to speak with an associate