Especially in cases where it’s past due.
Far too often, business owners rely on their own efforts to collect on the money that they’re owed. Whether it’s sending out second and third notices, personally following up by phone or having staff people do that for you a lot of time, effort and energy is wasted trying to collect outstanding payments on your own.
What’s the reason behind this lost productivity?
It’s a great question.
After talking with other business owners like yourself I have narrowed down their reluctance for hiring an outside agency to three prevalent…
Business Collection Agency Myths
When it comes to hiring a collection agency there are three common myths that are cited as reasons for not using an outside agency.
Here they are in no particular order:
- you don’t want to “lose” a customer (or client)
- collection agencies use unscrupulous tactics to collect your debts
- they are expensive
I’ve got news for you, if you’re still waiting to get paid 180 days later (or more) you’ve already lost that customer or client.
Your best client or customer pays on time. And they value what you do and respect the fact that you deserve to be paid on time for the goods and services that you provide.
Now, it is true that collection agencies have gotten a bad rap over the years. In fact, most people probably imagine a group of “thugs” making rude, threatening and angry phone calls to your customers or clients on your behalf. If you think about it this way your reluctance for hiring an outside agency is certainly understandable.
However, the reality is very different.
Collection agencies use trained professionals to follow-up with your customers and clients in order to help you get paid. They do this by using proven strategies, tactics, and techniques for helping you collect what you deserve.
Additionally, each state has laws regarding how collection agencies must operate, and licensed (and reputable) agencies follow these guidelines to the letter.
Finally, many people wrongfully believe that hiring a collection agency will be expensive.
There are two points I want to mention here.
First, how much outstanding debt is owed to you? It’s probably costing you more money not to collect on your outstanding bills, or relying on your own efforts to do so.
Secondly, most collection agencies do not require any upfront fee to get started. What’s more, they will typically only charge you a small fee on any funds that there able to collect on your behalf.
When you put it all together it makes good business sense to hire an outside agency to handle your debt collection.
After all, it’s your money.
Find the Right Collection Agency Today
To find the right collection agency for your business click the link below and get your free quotes from qualified and reputable companies…
Click the link and compare free business debt collection quotes today.
After all, you really only have two choices:
- you can keep doing what you’re doing (and hope for a different result), or
- you can hire an outside company to help you collect the money you rightfully deserve.
Finally, you can follow the link for our directory of collection agencies and research providers for yourself that can help you get set up for your State or Metro area.
Either way the choice is yours…