Signs You Need to Hire a Collection Agency

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hire a collection agency

Hiring a collection agency can incassobureau inschakelen be a smart move for businesses whose invoices have gone overdue. But before you do, it’s essential that you make sure you have exhausted all other options for collecting what is owed to your business.

A collection agency (also known as debt collector) is an external party that lenders and creditors hire to recover their outstanding dues from nonpaying customers. They do this through a variety of means including phone calls, letters, emails and more. They can even use special resources like databases and skip tracing to track down customers who may have moved or changed their contact information.

The best collection agencies have experts in the different industries they serve to design customized debt recovery strategies for each industry. They are well versed in the law and follow strict ethical standards. They also stay updated on collection trends for each industry so they can offer the most up-to-date services and reduce lost collections.

What Are the Signs You Need to Hire a Collection Agency?

If your invoices are more than 90 days past due, it is probably time to consider a collection agency. At this point, your invoices have a much lower chance of being paid in full by the customer and you’ll likely have to settle for partial payment. If a customer’s payments keep failing (like bounced checks or failed online payments) this can be another good indication that it’s time to hire a collection agency.


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