On occasion, hiring a business collection agency is a necessity. This is mainly because business owners have a bulk of responsibilities, and handling delinquent accounts can be physically, emotionally, and mentally draining. However, while many business collection agencies deliver, they are not managed and ran equally. That is why it is important to be meticulous in choosing from which agency to seek assistance. Below are some points to consider when choosing the best business collection agency:
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1. Research
Business collection agencies usually have specific fields of expertise. For instance, some agencies deliver remarkable results from large businesses, while others excel in small business or home-based enterprises. Knowing the type of agency and their most common business dealings can be utilized to the business owner’s advantage.
2. Asking about “skip tracing”
Owners of delinquent accounts could skip town, making it much harder for businesses to collect their dues. In order to prevent this, good collection agencies use what is known as “skip tracing.” By accessing several databases, they can track down debtors who have not left any forwarding address.
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3. Agency insurance
Despite all the research findings, there will be times the collection agency will act aggressively, making the debtor feel that the collector acted in bad faith. In this instance, the debtor can sue. Acquiring proof of insurance will ensure the business owner will not be held liable for hiring the agency.
Brennan & Clark is a business collection agency that has been operating since 1980. A member of the Commercial Collection Agency of the Commercial Law League, the firm offers unparalleled service and the most comprehensive guarantee in the industry. Know more about the company here.
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