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June 16, 2016

The Key to Successful Debt Collection

4469868 - judges gavel and law books stacked behindA judge recently ruled in favor of a collection agency in New Jersey regarding the required 30 day validation notice (Montgomery v. Trident Asset Management, C.A. No. 15-6617).

What was noticeable in the ruling is not that the collection agency successfully defended their actions in sending out two collection notices to a debtor. Rather, it’s that the debtor sued a collection agency over a point of law outlined in the FDCPA.

Why hire a collection agency?

In more than a few previous articles I’ve outlined for business owners why it makes more sense to outsource their collection efforts rather than handling this in-house.

And cases like the one mentioned above underscore this point completely.

In today’s highly litigious world it makes sense to outsource your collections because you are, at the same time, outsourcing compliance headaches. And that means liability as well. Of course, you’ll want to hire a professional collection agency that will operate within the legal limits outlined in both Federal and State law.

Because at the end of the day you’re outsourcing your collection efforts to avoid potentially harmful lawsuits and damage to your reputation, but you still want to collect some (or most) of what’s owed to you as well.

After all, the last thing you want to deal with while trying to collect revenue that is rightfully yours is having to deal with frivolous lawsuits filed by a well-informed public that would rather sue you for real or imagined compliance lapses, rather than simply paying what is owed.

Makes sense, right?

Find the right collection agency today

Save time, money and aggravation by hiring a professional who can help you collect some (or all?) of your outstanding revenue.

Click the link and compare free collection agency quotes today.

After all, when you get down to it you really have two choices:

  1. you can keep doing what you’re doing (and hope for a different result)
  2. you can work with a commercial collection agency that can help you recover what’s rightfully yours.

Either way it’s your money… you decide.

Filed Under: Collection Agency Services

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