how to improve debt collection results

How To Improve Debt Collection Results

There are some things that you can do to improve results both before and after assigning accounts to a collection agency. Always do your due diligence internally. Send statements and correspondence. Give individuals and businesses every reasonable opportunity to resolve the debt amicably. Set time frames for resolution and stick to them. Be careful not to fall into the trap of repeated broken promises and ignored requests for payments. When an account is turned over for collection precisely when you said it would be sends a message that you are serious about being paid.

Once the account is turned over the debtor will often finally reach out to you for resolution. It is important to refer them to the agency and let them do their job. Unfortunately, failure to do so will often land you right back where you started….chasing the money.

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