Let a Collection Agency Handle your Commercial Collections
You may be in a business of serving other businesses, otherwise known as 'B2B' companies. Along the course of your transactions you may have experienced the grueling task of collecting payments that were supposedly due months ago from these companies.
You know for a fact that the money is in big corporations and that's the reason why we make it a point to do business with them. But currently it seems that even these large corporations are likely to pay on time. Long gone were the days when companies make payments even before their accounts fall due. Though it may sound unfair to generalize majority of these big corporations for there are still those clients who really pay on time, there has been a growing number of companies having more and more delinquent paying clients.
If you have grown tired of collecting past due accounts or if you do not wish to undertake the process of recovering these unpaid debts, you can transfer the task of collecting to debt collection agencies. Don't worry about only having a meager amount to be collected. These collection agencies would accept even small business debts and are charging very reasonable rates. Some are even expanding their services and are offering accounts receivable management.
The collection services offered by a collection agency go through several phases. In the initial stage, sometimes only a letter or two is given to these delinquent payers to coax and gently nudge a slow-pay. If they are unsuccessful by means of collection letters, they then employ their collection professionals to work on the matter. A collector will work closely with you as sort of an extension of your staff, giving updates on the status and ensuring the recovery of the claim. When letters and collection calls do not bring in positive results, their network of lawyers specializing in collections and collection litigation come into the picture and will provide you with the necessary representation if you require it. These agencies also entrust the help of collection bureaus to ensure recovery of claims.
Be very selective though in choosing your collection agency for it will have a significant impact on your business reputation. While price is an important factor to consider in your selection process, you also have to take a look at a collection agency's services, reputation, and recovery rates that will be applied to the collected account. Ensure that the agency complies with the Fair Debt Collection Practices Act and Fair Credit Reporting Act. Choose a collection agency that can represent you in a professional manner.
Related Tags: bad debt, collection agency, collection agencies, debt collections
Tristan Andrews writes useful articles about collection agencies. Discover and explore the world of debt collections. Find out how using a collection agency can expand your financial horizons at http://www.advinfoc.com
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- The Beginning of the Cataloging Code
The first significant cataloging code was published in 1841. The realization that cooperation and s - In the Lap of the Gods 24
Life moved on. Lily became well liked by both students and staff because of her cheerful outlook on - In the Lap of the Gods 23
Does fate decide the future? Is it all mapped out for us, predestined, or can we influence what com - Write Your Memoir: How to Write About What Troubles You the Most
Everyone has a story to tell, and unfortunately those stories aren't always pleasant. What makes me - How Crafty Word Order Can Instantly Improve Your Writing
by Philip Yaffe I am usually very reticent about offering writing tips. Unless they are linked to - You Say Grandpa, I Say Deda
I was born with two grandmothers but only one grandfather. In nature's rules of familial supply and - My Russian American Dichotomy
I was a Russian girl and an American teenager. I had no choice about the first but I tried very har - In the Lap of the Gods 22
This is just an explanation for those who have read some of the other Chapters of, "In the Lap of t - Write a Book: 8 Reasons You Should Do it
Studies have shown that 82% of people want to write a book, but few of these actually ever achieve - Book Review: the Book of Common Prayer
Book Review: The Book of Common Prayer, "My carry-with-me copy is this size, and I recommend it for
Most viewed articles in this category:
- Real Estate Investment - Investing In Commercial Properties
As in any other type of investment, its obviously advisable to do your research well so that the pro - Taking Care Of Acne Prone Skin With Proper Skin Care Products
Although acne has been largely associated with teeners and puberty, the condition is not only confin - Do I Really Need Eight Hours Of Sleep Each Night?
What if you were told that there is no definitive answer for why we need to sleep? Your initial reac - How to Improve Your FICO Credit Score
If you didn't know this already, having a good credit score is more important than having a lot of c - 10 Tips for a Magnificent Memory
"Where did I leave my keys?" "What did I come in here for?" "Your glasses are on top of your head!" - Things You Might Like To Know About Card Companies
If you have a regular income and are 18 or over then you may be able to get a credit card. You will - Bad Breath in Babies and Toddlers
If your baby or toddler has had bad breath lately, not to worry. There are plenty of things you can - Starving College Students No More
The majority of today's college students are extremely Internet savvy. In fact, many of those studen - Cosmetic Surgery Financing: How Can You Get It?
Cosmetic surgery, a branch of plastic surgery, can be quite expensive, especially if you are plannin - Article Marketing, Improve Your Ranking With Links
Article Marketing, without a doubt remains the best free formula for attracting website traffic. At
