When Should a Company Hire a Collection Agency?

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Hoe een incassobureau inhuren? While it is not always easy to determine when the best time to employ a collection agency is, it is important to understand that a debt collector can be a valuable asset in keeping your business on track with payment obligations. A collection agency is an extension of your organization, and as such, should embody the same values that you hold dear to your brand.

How long do collection agencies try to collect?

A good collection agency is committed to ensuring that your business receives a positive return on investment through the recovery of your overdue invoice payments. The best collection agencies do not only focus on the recovery of your outstanding debts, but also on protecting your reputation with the customer.

When deciding to employ the services of a collection agency, you should be certain that the agency is fully licensed and bonded and follows all state and federal rules. You should also make sure that the collection agency you choose specializes in your type of business. If possible, you should seek out an agency that has a proven track record of collecting on accounts for other small businesses in your industry niche.

You should also consider whether the collection agency you are considering carries Professional Liability Insurance. This insurance protects your business from any legal action that might result in the debtor suing the collection agency for improperly handling their account or for breaching the Fair Debt Collection Practices Act.

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