Are you looking for a debt collection agency?

The every day running of a successful business is a constant grind, and can be hard enough without the added stress of outstanding debts.

Thankfully, with the help of a specialist debt collectors help is at hand for your business.

Debt collection agencies will provide an essential service to recover bad debts, build valuable relationships with their clients and aid in the reduction of bad debt write offs. 

Working with a collection agency is beneficial to businesses who do not have the available personnel dedicated to managing errant receivables.

Debt recovery is an exhausting profession and takes a particular personality and experience to be able to collect debts, and in a lot of cases your personnel may not have the specialised skills or knowledge to manage debt collection.

Debt collection involves dedication to making phone calls and preparing letters, there are strict protocols to be followed along with the ability to explore any legal options.

Businesses with limited employees and time often find using debt collection services to be more effective than internal collections, it can also be more cost effective hiring a debt collection service instead of having employees do work that is outside of their expertise.

Maintaining and protecting your business’s relationships with clients is a savvy reason to hire a debt collection agency, as agencies are considered to be the “bad guys” using a third party may help to avoid any loss of clientele.

Using the debt collection agency to handle all the necessary steps for collection means they communicate directly with the debtor for all the calling, credit reporting and even in some instances litigation. 

Consider the below signs, if any of these apply to your situation you should contact Advance Debt Collection to assist with your debt collection today.

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Limited documentation to debtor requesting payment

Throughout the debt collection process, it is essential to document all communications with the debtor, agencies are much better at doing this as all communication is recorded in the debt collection system of agency.

This results in you have a record of each and every effort made towards trying to collect the debt, which can then be used if you decide to take legal action against the debtor in the future.

Unsuccessful attempts to recover the debt yourself

Your chances of collecting problematic debts increases when you hire a debt collection agency as they have the experience and expertise in managing unpaid debts.

As a debt collection agency the one function they have is to collect debts that is their business, as professionals in this field they understand how to get debtors to pay legally and as an agency they pose a much great threat to debtors than yourself.  

Slow or sparse paying debtors

A debt collection agency will save you time, energy and money collecting your outstanding debts, and once they have made contact with the debtor, the debtor is more inclined to pay a debt collection agency more frequently and quicker. 

Unlike a debt collection agency, you’re time poor

Chasing debtors is time consuming and a typical accounts department may not have the time it requires each month to follow up on outstanding debts.

Consequently, a debt collection agency can devote all the time and resources into collecting your companies outstanding debts, it is because they can give it their undivided attention that they can achieve quick results on your behalf.

Insufficient debt collection agency resources and knowledge

Hiring a third-party debt collector, in addition to providing efficient debt recovery, means having access to a number of resources and strategies that would not normally be available to you.

An example of this is if a client cuts off contact, their phone is disconnected or they haven’t left a forwarding address the debt collection can tract the client using skip tracing. 

As debt collectors they also have access to public record databases, credit reporting systems and any other information source that is useful in finding and contacting a debtor.

If you are looking for a reliable debt collection agency for the recovery of your debts contact Advance Debt Collection, let us recovery your bad debts today!

Contact Advance Debt Collection Today