Credit Collection Services Commercial
If you are a business person seeking to recover your financial obligations, finding an effective, affordable and trustworthy debt collection agency can be a challenging task. With countless collection agencies of varying size and experience out there picking the wrong one can cost you hundreds, thousands, and quiet easily tens of thousands of dollars both in lost collections as well as in deceptive collection fees and commissions.
However, there are 3 powerful secrets to locating the best debt collection agencies that if you set to work to suit your needs can save you a ton of money as well as recover more of the money you owe faster… all without exposing one to the standard headaches and frustrations that so often opt for debt collection.
So revealing are these 3 insider questions that just a fool would pick a collection agency without first asking these three questions. In order of increasing importance, here then would be the 3 questions that empower one to quickly and accurately sort the diamonds from your dust.
Insider Question #1: “Would You Guarantee Collection Of My Debts?”
Most agencies will state that no collection means no commission. Don’t be fooled. This is NO guarantee of collection but rather a transparent ploy of deception.
In reality when you go using these agencies you’re the main one risking everything. No matter whether they collect the debt they’ll still charge you an upfront fee for pursuing the debt. So in addition you wind up with no money recovered, there is also to pay for their lack of ability to recover your hard earned money. So you wind up losing twice whilst they come forth with cash in their pockets.
What you truly desire is actually a guarantee that this money you invest with all the agency will actually bear a return as a collected debt. Bottom line: never cope with a collection agency that won’t guarantee assortment of your debts.
Insider Question #2: “How Will You Handle Disputed Debts?”
Make no mistake.. this one’s a biggie. In a ruthless effort to escape pay their accounts more and more debtors falsely dispute their debt. And the thing that makes this dirty tactic so powerful would be the fact almost without exception debt collection agencies will either refuse to get anything related to disputed debts OR they’ll charge exorbitant fees.
But attempting to sort out a dispute on your own, even if its blatantly fraudulent, is just as financially crippling since it is emotionally infuriating. The legal costs alone can very rapidly dwarf the dimensions of the unpaid account.
Fortunately you will find a handful of collection agencies which can be tailored for manage disputes as your representative at no additional charge. That’s why it’s imperative that before you sign any agreement with a prospective debt collection agency you receive these to verify precisely how they handle disputed debts.
Take home message: only cope with debt collection agencies which have systems in place to deal with both genuine and bogus disputes without charging you extra for this. As I say, it is a biggie.
Insider Question #3: “Would You Charge A Commission On Collection From Day 1?”
Of the three insider questions you should ask, this is by far the most crucial. Granted, on the surface charging a commission on collection may not sound so bad. However, as you’re going to see charging a commission on collection from day 1 slaughters your odds of getting back all of the money that’s rightfully yours.
Here’s why. Should you lack adequate relation to trade and they are prone to pay collection costs, any money that’s collected as your representative is going to be significantly whittled by the commission on collection. On recovering your cash debt collection agencies that charge commission from day one can skin anywhere between 20% to 40% right from the top. Regardless how you fuovco at it that’s a huge price to pay to obtain back the cash that’s rightfully yours.
Alternatively, in which you can legally pass on all collection costs in your debtor you might be forgiven for thinking all is sweet… it’s the debtor who gets slapped with all the commission while you can keep all money owed for you.
However, what usually eventually ends up happening, stung with 20% to 40% a lot more than whatever they originally owed you these debtors form bogus lies to dispute the debt in an effort to avoid paying it.
Net result: even though it’s your debtor who gets stung with the collection costs, it’s you who ultimately misses out while you fail to recover the majority of your debts. It’s because of this that you ought to absolutely refuse to cope with any collection agency that charges a commission from day one, particularly if they don’t charge a 1-off fixed fee and even more so should they don’t guarantee collection.