Collections and the bottom line: What debt collection agencies can do for you

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According to award-winning agency Brennan & Clark, debt collection agencies specialize in collecting delinquent debts on behalf of their clients, debts which are usually 60 days past due at the least. And often, the results are positive.

For today's blog, Brennan & Clark reviews some of the benefits companies can reap from hiring a third-party debt collection agency.

First off, debt collection agencies such as Brennan & Clark specialize in various kinds of debt. Depending on their strategies, some agencies are more likely to zero in on debts that have been delinquent for a shorter amount of time or a smaller amount of money.

These agencies also remit to their clients collected debt from credit card debt, medical debt, automobile loan debt, business debt, student loan debt, personal loan debt, and unpaid cell phone and utility bills. Typically, clients pay 25 to 45% of the amount to debt collection agencies.

Image source: jmacreditcontrol.com.au

Furthermore, debt collection agencies are incredibly well-versed with the laws that govern debt collection. For instance, they know that the statute of limitations varies by state, and a reputable collection agency will follow those rules to the letter. This means clients won't have to worry about any legal repercussions.

In certain situations where debt collection agencies and companies have to deal with difficult debtors, agencies know how to negotiate settlements with customers and pursue legal action if debtors refuse to pay at all.

Brennan and Clark is a business collection agency that has been operating since 1980. A member of the Commercial Collection Agencies of America, the firm offers unparalleled service and the industry's most comprehensive guarantee. For more informative reads on business debt collection, follow this Twitter page.