Welcome to Collection Agency Research - the leading resource for information on Debt Collection Companies. Learn about various debt collection services and special considerations for your specific business' needs including pricing and what to look for in an agency. Get free competitive price quotes.
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Tracking down customers who owe money can be a tremendous strain on your time and resources. But what can you do when you need those funds to run your day-to-day operations?
If your initial attempts to collect money from past-due accounts fall flat, a collection agency can help your business retrieve those bad debts without the burden of doing it yourself. A collection agent contacts those clients who are 30 days delinquent or longer to recover as much of the money owed as possible.
Collection agencies start by locating the debtor and contacting them by phone or written letter to request the money due. If the debtor is unable to pay the full amount, the agent can negotiate for a lesser amount, or arrange a flexible payment schedule. That way, you still get some of what you were owed — even if you previously wrote the account off as a loss. They then take a percentage of the funds for their fee.
Well-skilled collection agents know the right protocol for contacting clients and stressing the urgency of the situation without making threats or being verbally abusive. They also have strong customer service skills and work hard to appropriately represent your business and uphold your corporate image.
Do your delinquent clients:
If any of these attributes apply to your past-due client accounts, it may be time to hire a collection agency. When you are ready to start finding the right agent, let Collection Agency Research connect you with multiple agencies so you can find one that best suits your needs.
But we don't want you to make this important decision without guidance. You may have specific questions about the industry and some of the techniques used by collection agencies. Use our helpful frequently asked questions (FAQ) section which addresses many of the top concerns you may have about collection agencies.
If you have additional questions you would like to add to the FAQ, email us.