Dealing with past-due accounts is costly, frustrating and time-consuming for any business. This is one of the main reasons why most business owners look for a commercial debt collection agency.
Go through the red flags listed below that indicate that you should consider employing a debt collection agency.
Unresponsive Debtors
You need to hire a debt collector when the debtor disappears and does not respond to your phone calls, emails, or invoices. Take the assistance of a collection agency if you can't find your debtor, for instance, if the address or number you have does not match anymore.
Bad faith
Your debtor is not following through with a payment plan you agreed to. Debtors who avoid paying even after you've decided to meet them halfway with a payment plan will most probably not pay without employing a debt collection agency.
Bad history
If a debtor has a history of financial irresponsibility or who have sent in a bounced check or multiple bounced checks should be of concern to you.
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Denial
Sometimes, you may face debtors who completely deny responsibility for the money they owe you. Usually, this is the worst case, and unless you take the service of a commercial collection service, debts owed by this type of debtor are hardly recovered.
Which Is The Best Commercial Collection Agency in The USA?
Benjamin, Chaise & Associates is a trusted commercial debt collection agency in the USA. The collectors of this debt collection agency are highly skilled in the art of skip tracing and tracking assets. With all the information obtained they start the collection process.