When do I use a Collection Agency? Part 3

« When do I use a Collection Agency? Part 2 | Main | Talk of the Nation "In Debt with no Easy way Out" on NPR »

Aug16

August 16, 2006

Know More: Bad Checks, Creating a Credit Policy, FAQs, I have past due customers, what do I do?, Skip Tracing, Using Collection Agenices, What makes a Good Collector?

Once you decide to place an account with a collection agency, remember that you must stop working the account, adding late fees or interest and stop sending them any correspondence. If the debtor contacts you, which happens quite often once they receive a contact from a collection agency, refer them back to the agency. This is very important!

Place your accounts with a collection agency if the customer is:

Habitually slow paying
Skips or runs away from debt
Tries to reduce their debt through complaints
Changes jobs frequently
Does not return your calls or respond to letters or statements
Is rude and will not work with you.
Their mail is returned and the phone is disconnected.

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« When do I use a Collection Agency? Part 2 | Main | Talk of the Nation "In Debt with no Easy way Out" on NPR »

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