OK, so debt recovery services aren’t free. However, when you get them from a quality company, the money you’re paying for them is well worth it.
Here’s why:
1. The fees are reasonable
Good debt recovery services will charge you a portion of the money they collect. However, that percentage won’t break your budget. Instead, think of it this way — without your collection agency, you wouldn’t have gotten ANY of the money you’re owed, so any profit is good profit.
Just be sure you understand how all of the fees work before you sign on the dotted line. If you’re not comfortable with the rate your potential agency is charging, find another one.
2. Service anywhere, anytime
If you’re going to hire a collection agency, hire a nationwide business collection agency. There are plenty of them out there, and with one, you’ll be able to turn any kind of delinquent client over to them — no matter where they are.
Why are nationwide services so important?
Because collection laws can vary from state to state! The last thing you want is for your collection agency to trip up, inadvertently break the law, and cost you the money you’re owed. Instead, go with a nationwide business collection agency that has the expertise to handle cases in any state.
3. They can handle more than just debt collection
In fact, a good collection agency will even be able to handle your accounts receivable management duties! That way, you don’t have to worry about going out and hiring your own full-time billing employees. You can simply turn all of the billing duties to your collection agency. That way, if an account becomes delinquent, you can make a smooth transition from billing services to debt recovery services.
And, by outsourcing your accounts receivable management duties, you’ll actually save money. Because you won’t have all of those extra full-time employees, you won’t have to fit a bunch of salaries and benefits packages into your budget.
4.They can handle court cases
Quality companies that offer debt recovery services will do everything they can to make sure you get the money you’re owed — including having lawyers on hand that can sue your delinquent client, if necessary. That way, you won’t have to worry about your collection agency “calling it a day” if their initial efforts fail.
No matter how much money you’re owed, the team at www.psicollect.com can help you get it!
