Let’s take a look at the pros of hiring a collection agency. Of course, we expect our customers to pay and on time. However, that is not always the case.
Using a collection agency has some very strong advantages but let’s take a look at them.
Remove the Hassle
The last thing one of your employees wants to do is reach out to customers who have not paid their bill. This is uncomfortable and no none enjoys this job especially dealing with those who refuse to pay. Hiring a collection agency is a pro as it frees you and your employees to do what they do best not this unpleasant tack of collection.
Are you aware of the laws in your state and city? Numerous federal and state laws govern the debt collection industry. If you are not well-informed you could have a law suite on your hands very quickly. Hiring a collection agency as a pro will remove your legal risks you have on your own doing the collection.
Recovering past due debts can not only get you in trouble with the law but it can be complicated. Hiring a debt collection agency makes people pay their debts. Using an agency allows you to collect faster and more often. Debt collectors – collection agency are experienced professionals. Remember they are trained on the lawful way to get debtors to pay.
Tools and resources
Can you believe people would skip town and not pay their debts? Yes that happens often but are you working with an agency that uses tools like Skip Trace software to find those that skip town? Collection agencies will also report to the three big credit bureaus. This will negatively affect their credit score. The agency knows how to work with the clients to get their debts taken care of with as little damage to their credit score as possible.
Shifting Focus Back
If your employees were not hired to collect, guaranteed they are not excited about this job. Letting a collection agency manage debt will allow you and your employees to focus on your core business.
A good collection agency can take care of everything for you. They can file a lawsuit, collect on debt through the entire process. Let them do what they do best plus you only pay if they collect. The sooner you turn it over to them the more likely they are to collect your debt.
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?