Commercial Collections Agency
Friday, October 26th, 2018 | Florida commercial collection agency | Comments Off on Commercial Collections Agency
Commercial Collections Agency
Working With A Commercial Collections Agency
You’ve done your due diligence. You have selected the right commercial collection agency for your business’ needs. So, what now? You may feel like your work is now done. You have handed your debt collection efforts off to the professionals. It is still important for you to take an active role in the relationship with a collections agency. You hired the agency for their expertise, experience, and sound judgement. Still, the agency can better do its job if you take an active role in your working relationship.
Tips/Strategies
When working with this agency, be sure to provide them with as much information about the debt and debtor. This will ensure the highest possible rate of returns on your outstanding receivables. The more information this agency has the more money you will be able to collect. That information should include the following:
- Any names associated with the debtor: Debtor’s name, spouse, friends, relatives and/or neighbors, including any nicknames, maiden names, aliases, etc.
- Addresses: business and personal.
- Contact information: telephone numbers, business and personal, including cell phone numbers, and any and all email addresses associated with the account.
- Purchase and/or transaction details, including dates, amounts, type of, etc.
- Any paperwork related to the transaction, including contracts and credit applications.
- Any and all correspondence you have had with the debtor, including any feedback or acknowledgments to your debt collection efforts you have received.
Provide the above information and maintaining communication when working with the agency. This will help reduce frustrations. It could also very well speed up the commercial collections process.
If you are a business owner trying to collect on past-due accounts, The Cash Flow Group can often help. Contact us today!