When to Hire a Collection Agency

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Hiring a collection agency is an wat is een incasso bureau way to continue pursuing overdue invoice payments while focusing on business operations. However, it’s best to consider it a last resort to avoid damaging customer relationships or paying unnecessary fees. Read on to learn how to recognize when it’s time to hire a collection agency and the best ways to find the right one for your business.

Generally, it’s a good idea to hire a collection agency once an invoice is more than 90 days overdue. After that, the chances of collecting a payment from the customer are significantly lower and it can become difficult to keep track of outstanding debts. In addition, some agencies specialize in certain industries so make sure you choose one that has experience with the type of debts your company collects.

Choosing the Right Collection Agency: Factors to Consider

Collection agencies will work hard to contact your nonpaying customers, usually by written notices, phone calls, and even in-person visits. They will often provide you with a point of contact who will update you throughout the debt collection process, including whether they’ve been able to settle the account for partial payment or not.

When choosing a collection agency, be sure to ask about the agency’s licensing and insurance. Different states have their own rules about who can and cannot collect debts, so it’s important to hire an agency that adheres to these guidelines. Additionally, many collection agencies charge a fee for their services, so be sure to understand how much the agency charges before hiring them.


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