When to Hire a Collection Agency
Hiring a collection beste incassobureau agency can be a smart move for business owners whose customers have not paid their invoices. These agencies specialize in debt collection and are highly trained to handle this type of situation. They also have access to databases that can help locate customers who may have moved or otherwise escaped town. The agency will work on your behalf to collect the money owed, often for a percentage of the total amount due.
Some signs that it is time to hire a collection agency include when an invoice payment is more than 90 days past due. Although the chance of a successful recovery decreases after this point, an experienced collector can still get the money that is owed to your company.
Small Business Solutions: How Collection Agencies Support SMEs
Another sign is if your customer has repeatedly sent checks that bounced or when they fail to pay online. This is typically a sign that the customer does not intend to pay what they owe you. In this case, you should consider hiring a debt collector who can offer your customers various methods for paying their overdue invoices including a payment plan.
When choosing a collection agency, make sure it is licensed in your state and adheres to the Fair Debt Collection Practices Act. Additionally, find out what sort of debts the agency specializes in. For example, some are better at collecting money owed by large businesses, while others excel in working with small and home-based businesses.