Would you like a simple way to save money as a business owner, hire a collection Agency! Cash flow is the most important area of business for an entrepreneur or business owner. If you have been a business owner for more than a month or so you will realize the importance very quickly. The quickest way to cause a cash flow problem is to have unpaid invoices from your customers or clients.
You deliver a product or service, and all customers pay on time sounds easy enough, right? Wrong.
The hard truth is some customers or clients make it difficult to collect payment. The first couple of unpaid invoices you can handle right? Then a few more until it can become an issue if you can’t pay yourself or worse yet your employees.
If you have experienced making demands for payment from your debtors have been unsuccessful, hiring a debt collection agency such as MCA, could prove advantageous in the collection of your outstanding debt for the following reasons:
Here are a few reasons why you should hire a Debt Collection Agency?
Higher Possibility of Successful Debt Recovery
For Agencies, recovering the debt is what they do best. They do this on a daily basis. They are trained professionals with the latest software and techniques to track and find your debtor. They also pose a greater threat as they do the ability to document and report unpaid debt to all three of the credit bureaus. Equifax – Experian – TransUnion This affects one’s credit score for many years and for everything they purchase including insurance.
Many are willing to take care of it and work out a payment plan through an agency because they feel this threat that they won’t feel with you. The agency will be able to work with them and find a simple solution that works into their budget to get their debt paid. You would have to be very careful asking questions that the agency knows how to ask and what to ask.
Documentation of Communication
When hiring a Debt agency they document every detail of communication with the debtor. This allows you should you need to take it to court all the documentation you should need or for you to claim a tax deduction as a bad debt.
Burden Removed from Business
If you do not have a dedicated employee to do the collections it is quite time-consuming and not a job most enjoy. Hire a collection agency. It can be very demeaning and tiring to an employee. It is also time-consuming so your employee may be spending a lot of time doing something they are not good at when they could be doing something you are getting more value for what you are paying them for.
Hiring a third-party collection agency will also increase your success in debt recovery.
Protection From Lawsuit
One of the areas that can cost you more than it is worth is not knowing the law on collection. State and Federal laws that can be different in every state govern in what manner you can collect the debt.
Using a debt collection agency helps you avoid legal risks posed when you endeavor to collect debts on your own.
Don’t take a chance Hire a reputable collection agency.
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 it! Why not try and re-coop some of your past due accounts with no out-of-pocket expense?