Credit Collection Services Commercial
If you are a business person seeking to recover your debts, finding a highly effective, affordable and trustworthy debt collection agency can be a challenging task. With countless collection agencies of varying size and experience out there picking the wrong one will set you back hundreds, thousands, and quiet easily thousands of dollars both in lost collections as well as in deceptive collection fees and commissions.
However, you can find 3 powerful secrets to finding the best debt collection agencies that if you place to work for you will save you a ton of money as well as recover much more of your financial obligations faster… all without exposing you to the usual headaches and frustrations that so frequently opt for debt collection.
So revealing are these 3 insider questions that only a fool would pick a collection agency without first asking these three questions. In order of growing importance, here then are the 3 questions that empower one to quickly and accurately sort the diamonds from your dust.
Insider Question #1: “Would You Guarantee Collection Of My Debts?”
Most agencies will state that no collection means no commission. Don’t be fooled. This is NO guarantee of collection but instead a transparent ploy of deception.
In fact when you go by using these agencies you’re the main one risking everything. No matter whether or not they collect your debt they’ll still charge an upfront fee for pursuing the debt. So not only do you end up with no money recovered, you might also need to pay for their inability to recover your money. So you find yourself losing twice whilst they come out with funds in their pockets.
What you really want is really a guarantee that this money you invest with all the agency would really bear a return as a collected debt. Bottom line: never cope with a collection agency that won’t guarantee variety of your debts.
Insider Question #2: “How Will You Handle Disputed Debts?”
Make no mistake.. this one’s a biggie. In a ruthless effort to escape pay their accounts more and more debtors falsely dispute their debt. And what makes this dirty tactic so powerful is the fact almost without exception debt collection agencies will either refuse to get anything to do with disputed debts OR they’ll charge exorbitant fees.
But trying to sort out a dispute by yourself, even whether its blatantly fraudulent, is as financially crippling since it is emotionally infuriating. The legal costs alone can very rapidly dwarf how big the unpaid account.
Fortunately you can find a couple of collection agencies that are tailored for manage disputes as your representative at no additional charge. That’s why it’s imperative that before you sign any agreement with a prospective debt collection agency you get those to verify just how they handle disputed debts.
Take home message: only cope with debt collection agencies which have systems set up to cope with both genuine and bogus disputes without charging you extra for it. Because I say, it is a biggie.
Insider Question #3: “Would You Charge A Commission On Collection From Day 1?”
In the three insider questions you should ask, this is quite possibly the most crucial. Granted, on the surface charging a commission on collection may not sound so bad. However, as you’re planning to see charging a commission on collection from day 1 slaughters your chances of getting back all of the money that’s rightfully yours.
Here’s why. Should you lack adequate relation to trade and they are prone to pay collection costs, money that’s collected as your representative will likely be significantly whittled by the commission on collection. On recovering your hard earned money debt collection agencies that charge commission from day one can skin between 20% to 40% right from the top. No matter how you fuovco at it that’s a massive price to pay to have back the amount of money that’s rightfully yours.
Alternatively, in which you can legally pass on all collection costs for your debtor you might be forgiven for thinking all is sweet… it’s the debtor who gets slapped using the commission while you can keep all money owed for you.
However, what usually ends up happening, stung with 20% to 40% greater than what they originally owed you these debtors make up bogus lies to dispute the debt in an attempt to avoid paying it.
Net result: even though it’s your debtor who gets stung with the collection costs, it’s you who ultimately misses out when you fail to recover much of your debts. It’s for that reason that you ought to absolutely refuse to cope with any collection agency that charges a commission from day one, particularly if they don’t charge a one-off fixed fee and even more so if they don’t guarantee collection.