Great Ideas For Hiring A Commercial Collection Agency

July 7, 2009

Running a business is about customer service and building client relationships. But, sometimes the money can get in the way and hamper years of good relations and rapport with your clients. For the most part, nonpayment for service is not intentional, but every bit as destructive to your balance sheet at the end of the month. Hiring a commercial collection agency should be done with careful research on their collection techniques. It took you years to build your clientele, and one late payment should not be your severance point with your customers.

1. Look for a commercial collection agency that has a professional appearance. If the firm works in conjunction with a law office, this will lend credibility and urgency to the payment request letters. Without seeming in a rush for the courthouse, a simple law firm letter heading gives your payment request envelope priority in your client’s stack of bills.

2. Look for a competitive commission structure. Too many collection agencies are greedy for top dollar. The money that they may collect is dead money to begin with. There has been no hope from your office to redeem payment, so the collection agency should take a smaller cut and waive any late fees for your client. Late charges and fees are hypothetical additions and need not be added to your struggling client’s bill.

3. Look for a collection agency that uses diplomacy and tact. Hiring a company to threaten or frighten your customer is a sure fire way to never see that client again. You worked hard to earn their business, and a simple late dental bill does not warrant their release. Collection agencies can be polite when they want to be and when they represent your business, they are in a sense representing you.

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Filed Under Business Tips