Rea­sons To Hire A Com­mer­cial Col­lec­tion Agency

By Dean Kaplan+

If you are respon­si­ble for debt col­lec­tion in your com­pany, you may be won­der­ing if there is any­one out there who can help when all your efforts to col­lect lead nowhere. In fact, there is a way to obtain help with these debt col­lec­tions. You can hire a com­mer­cial col­lec­tion agency. Com­mer­cial col­lec­tions are busi­ness to busi­ness debt col­lec­tions. That is, when one busi­ness does not pay for prod­ucts pur­chased or ser­vices ren­dered by another business.

A com­mer­cial col­lec­tion agency uses a vari­ety of meth­ods to pur­sue debt col­lec­tions, includ­ing gath­er­ing infor­ma­tion under the aus­pices of an audit, hir­ing a pri­vate detec­tive, or keep­ing track of col­lec­tion dead­lines in order to max­i­mize col­lec­tion efforts.

When com­mon col­lec­tion meth­ods such as phone calls, send­ing repeat notices, and threat­en­ing the debtor with a law­suit fail, an agency may con­tact the debtor and claim to be audit­ing receiv­ables for your com­pany. While talk­ing to the debtor, the col­lec­tor may men­tion that the audit has uncov­ered some over­due invoice amount that is owed to your com­pany. They then can present the debtor with pay­ment options. Often­times, to avoid the pos­si­bil­ity of an audit, the debtor will choose to pay the debt off quickly.

For debtors who are more dif­fi­cult to col­lect from, your agency may hire a pri­vate detec­tive or may even have pri­vate detec­tives on staff. Pri­vate detec­tives know lots of ways to locate debtors who no longer answer their phone, have changed phone num­bers, or have no known for­ward­ing address. Once located, the debtor may be moti­vated to pay the debt in order to escape fur­ther inquiries. Pri­vate detec­tives may also deter­mine if the debtor has any assets such as a house or any other businesses.

This infor­ma­tion will enable your com­pany to decide if the debt is worth the time and money required to go after pay­ment. At the point when a suit must be filed and a lawyer hired, the cost of col­lec­tion must the weighed against the prob­a­bil­ity of pay­ment. The bot­tom line is if there are no assets to recover, there is no point in mak­ing expen­di­tures to go after payment.

A com­mer­cial col­lec­tion agency is well-versed on when suc­cess­ful col­lec­tion of debt is most likely to occur. How much money is recov­ered on each dol­lar owed drops sig­nif­i­cantly at 90 days past due, 180 days past due and dra­mat­i­cally after twelve months. To get the most recov­ery from your agency, don’t wait too long to turn over delin­quent accounts.

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The Kaplan Group is a com­mer­cial col­lec­tion agency with a proven record of suc­cess. With state of the art com­puter soft­ware and a fully trained staff, all of your col­lec­tion needs can be han­dled with max­i­mum effi­ciency and results. Our clients are from a vari­ety of indus­tries with claims of all sizes. Whether your claim is a few thou­sand dol­lars or sev­eral hun­dred thou­sand dol­lars, we can help you get the results you want. Our per­sonal approach cou­pled with plenty of expe­ri­ence enables us to col­lect where oth­ers have failed. We do all of own detec­tive work, and have thor­oughly researched each claim before any con­tact is attempted. When we can’t ini­tially locate a debtor, we have great suc­cess is find­ing even those debtors who are try­ing not to be found. Feel free to call the Kaplan Group to find out more about our services.

The Kaplan Group is a bou­tique col­lec­tion agency spe­cial­iz­ing in large (over $10,000) debt col­lec­tions due from busi­nesses. Founded in 1991, the com­pany has a stel­lar rep­u­ta­tion (A+ rat­ing with the Bet­ter Busi­ness Bureau) and is rec­og­nized as one of the lead­ing col­lec­tion agen­cies for results on large and com­plex mat­ters.