Any business dealing with customers who won’t pay their bills eventually faces the same dilemma — do they continue with rounds of phone calls and emails and letters in the hopes of enticing a customer to pay what they owe, or do they turn over the unpaid debt to a collection agency? Keep in mind — a collection agency is in the business of recovering outstanding debt. They have the training, technology, and expertise to maximize a return because that’s what they do. If you’re facing this very dilemma, here are four reasons to consider turning over debt to a collection agency.
Efficiency
It can take a high level of resources to effectively chase down customers who don’t want to be found. Consider whether your business is better off devoting company time and energy to day-to-day business necessities than it is to making phone calls and sending letters and emails. Outstanding debt is often much more expensive than a business realizes, and almost without exception, a company is better off handing off unpaid debt to a collection agency so it can focus on bringing in new business.
Greater Odds
A collection agency is well versed in the most effective way to collect unpaid debt, and a good agency knows how to do it in a compliant manner that won’t damage your business’ relationship with its customers. The chances of a return are significantly higher when you partner with a reputable agency, and the sooner you make the decision to bring in a professional, the better.
Seasoned Advice
An experienced agency, like Business Professional Collection Service (BPCS) here in Reno, has decades of experience and expertise guiding its actions. You may not be familiar with the various aspects of the debt collection process, but you can be absolutely certain that we do. Let us offer advice and insight to help you successfully navigate this process — it’s what we do, and we can assure you that you’re in very good hands.
Legal Assistance
An in-house legal staff gives BPCS an edge if legal action becomes necessary. It streamlines the entire process if we work with you from start to finish — our team will already be familiar with your case, and we’ll have all of the information we need to pursue litigation.
The Takeaway
Keep in mind that the clock is ticking on unpaid debt. Statistics show that the longer a debt remains outstanding, the smaller the likelihood that you’ll receive payment. Read our post about when a business should consider hiring a collection agency, and keep in mind that the general rule of thumb is when an account is one to three months past due.
Learn more about what you can expect when a professional collection agency works tirelessly on your behalf. Contact us today.
