Business collection agencies specialize in recovering debts that are past due. These rely on various forms of communication to reach customers and persuade them to pay, including phone calls, letters and emails. In some cases, they turn to the legal system to collect if other efforts are unsuccessful.
Good collection agencies are effective in recovering debts because they understand which tactics and strategies are most effective.
While there are many reputable collection agencies, some agencies rely on unscrupulous, harassing or illegal tactics to collect, and that's something to avoid at all cost because it reflects poorly on your business. There are strict laws surrounding collections efforts, and any reputable agency will follow them.
Search the Association of Credit & Collection Professionals International (ACA International directly (http://www.acainternational.org/memberdirectory.aspx) to find a member agency that is licensed in your city or country. ACA International is a nonprofit agency that establishes ethical standards for the industry and requires its members to adhere to them.
Want to speak to a professional about your Credit Insurance needs?
See how much more you can borrow by having Credit Insurance.