The Need to Hire a Collection Agency – 9 Questions to ask before saying yes to work with a collection agency
When you feel the need to hire a collection agency, you need to look at a few criteria before hiring.
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Have they worked with your particular industry previously?
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How long have they been in business? Not saying the longevity makes the best choice but you want a company that has had great success in collecting and a great reputation. -
What kind of rating do they have with the BBB? Have they had claims against them and if they have what did they do to resolve those claims.
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Are they known for professionalism or do they use unusual harsh tactics to collect your unpaid invoices? Harsh tactics do not work if you plan to build a business built on referrals. The end result is to collect those unpaid invoices and still retain a client for the future or at least their friends and family.
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Do they know the laws of collection and abide by them? Make sure you are hiring someone that has a license to work in the state where you need collections.
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Ask if they require a fee upfront or do they get paid when they collect for you? Many reputable collection agencies know their success rate and do not charge an upfront fee to start your collection but is based on only what they collect on your behalf.
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Do they have resources other than the telephone to locate your customer of the unpaid invoice?
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Do you get a person when you call or do you have to leave a voice message? We know when we need answers we prefer to talk to a person and not go through step after step to get someone.
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Ask them if they personally have insurance in order to protect you the client.
Here’s to your success in finding the perfect collection agency to work with… We would love to be your first choice.
MCA is a third party debt collection agency that has been in constant business since 1950. We are rated A+ with the Better Business Bureau and we pride ourselves on excellent customer service along with delivering great recovery rates. There is no cost to you unless we collect! Why not try and re-coop some of your past due accounts with no out of pocket expense?
