From time to time just about every business or practice needs to collect from customers, clients or patients that haven’t paid.
Usually the first step in the process is sending out 2nd, 3rd and final notices in the mail. And some companies use their staff to make collection calls as a way to collect payment.
But what do you do when this hasn’t worked for you?
Perhaps it’s time to get some expert help.
Choosing a Debt Collection Company
When it comes to hiring an outside agency how can you know if you’ve found the right one?
It’s a great question.
For starters, you want to make sure you’re dealing with a professional collection agency with the necessary experience and track record to help you collect some (or all) of the money you are owed.
With this in in here are seven key questions to ask when talking to prospective debt collection services companies:
- What is their track record for your industry/business type?
- How many years of experience do they have?
- Are they licensed for the state(s) where your customers are located?
- Are they bonded/insured?
- Do they offer skip tracing (included in quote)?
- Are they members in good standing with the ACA?
- Do they offer you monthly reports/updates?
It goes without saying that not all collection agencies have the same track record when it comes to working with companies in your niche or industry. For example, when it comes to medical collections a more delicate (and skilled) approach is required since you have to account for possible insurance co-payments and HIPAA requirements.
That’s why it’s a good idea to ask about their track record for success, along with how much expertise they have in working with businesses like yours.
Any company worth hiring should be able to provide you with this information.
Finally, you’ll need to make sure they are licensed to do business in your state AND the state(s) where your customers, clients or patients reside. After all, one major benefit for hiring an outside agency is to shift liability away from you and onto the collection agency you choose to collect on your behalf.
Does that make sense to you?
By following the tips and asking these (and more?) questions to prospective collection agencies you should be able to find one that’s right for your business.
Find a Debt 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 collection agency 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 and collect the money you rightfully deserve.
Use the link above for your free quotes, or click to find commercial collection agencies for your State or Metro area that can help you recover lost revenue starting today.
Either way the choice is yours…