Commercial Collection Agency – your debt recovery solution When you are running a small business, it is not possible to get paid in cash every time you make a delivery. For the ease of accounting, most businesses have a system of making payment at the end of a fixed period of time. It can be weekly payment, monthly or quarterly. If your business is booming, you are probably supplying to a number of customers. Out of them, there may be some who need some prodding before they settle their account. And, there may be one business which does not pay on time, if at all. You cannot afford to ignore this situation. If the debt builds up and it becomes known in the market that you do not collect bad debts, you will soon find yourself in a lot of financial trouble as other businesses also begin to delay your payment. So, it is vital to follow up on bad debts and collect all business debts on the appointed time. Commercial Collection Agency can be of immense assistance to you in this regard.
When to engage the services of the Commercial Collection Agency?
The decision to call in a collection agency requires careful consideration. You should take into account the following points:
- As the due date for the payment approaches, you should give a call reminding your customer of his total financial obligation and the last date.
- If the last date passes without you receiving any payment, you should call the customer everyday and remind him of the situation.
- Send a written letter setting forth all the details of the transaction. Attach any photocopy of the contract you had with him.
- If you still fail to obtain payment or the customer refuses to speak to you or meet you to discuss the matter, it is time to call in the Commercial Collection Agency.
Why should you engage the Commercial Collection Agency?
The reasons for calling in a collection agency in general and choosing the Commercial Collection agency in particular are as follows:
- You have already tried the easy method of collecting your debt, but it did not work. Your repeated telephone calls and letters have been ignored. In this situation, you have nothing further to do because there are strict laws against harassing or threatening a debtor. Instead of recovering your dues, you may end up in considerable trouble if you, knowingly or unknowingly, break any of these laws. So, it is by far the most prudent course of action to turn the matter over to a competent collection agency.
- While you definitely want your payment, you also do not want to do anything which will forever destroy a healthy business relationship. Your debtor may be facing some genuine problem. With time, he may be able to pay your dues. But, if you handle the situation wrongly, you may antagonize him. A good working business relationship is destroyed and your reputation also suffers. The Commercial Collection Agency helps you to maintain this fine balance and handle the situation with utmost tact ensuring that your business relationship and reputation does not suffer in the long run. In fact, proper handling of a bad debt situation can win you loyal customers and a solid reputation of being dependable in the market.
- Pressuring your debtor can lead to his declaring bankruptcy. In that case, your chances of getting paid almost vanish. The Commercial Collection Agency can help you handle the situation in such a way that it is resolved to everyone’s satisfaction.
- There are a number of collection agencies operating in the market.
Why should you choose the Commercial Collection Agency out of them all?
Here are some of the reasons:
- This agency consists of highly experienced staff that has specific expertise in this field of collecting business debts. They know exactly how to assess the potential of a debtor to pay up. So, they will be able to help you determine the best possible course of action regarding each of your bad debts.
- The Commercial Collection Agency uses some of the most sophisticated credit research and investigation techniques to assess the financial condition of your debtor. This will help you to work out the best strategy regarding your outstanding payments.
- The operatives of the Commercial Collection Agency meet your debtor face to face in order to realistically assess the situation. Some debtors may be facing genuine financial difficulties while others are simply avoiding making a payment. The expert operatives assess the real situation in a face to face interview and then help you decide on a course of action.
- With their global network, the Commercial Collection Agency is uniquely situated to handle any debtor no matter where he is located.
- In addition, the Commercial Collection Agency uses the services of highly qualified private investigators to trace defaulting customers and investigate their financial situation.
- Commercial Collection Agency advises you on how to manage your outstanding payments without losing loyal and valuable customers to your competitors.
- Finally, Commercial Collection Agency can provide you guidance regarding your general credit policy and help you to devise a system to keep the problem of late payment at a minimum.
The services provided by the Commercial Collection Agency
The Commercial Collection Agency has a global network and can provide you with a wide variety of services. No matter what your business is, the Commercial Collection Agency is uniquely situated to deal with all instances of bad debt. This is because of its liaison with the American Securities Bureau.
The Commercial Collection Agency provides diverse services to its customers. These are as follows:
- If you are finding it difficult to extract timely payment from an individual or a business, the Commercial Collection Agency can help you.
- Delinquent medical accounts are also handled, whether your practice is large or small.
- They can help you to locate missing debtors as well as collect financial reports on them.
- They can help you to collect on a judgment.