Do
you have problems collecting payments and debts? Do you have customers who let their bills get
late? Are past 120 day receivables an issue? Then you need of a reliable and
dedicated collection agency. If you are wondering what a collection agency can do for you, then this article post should help you to figure it out.
Why do you need
to use a collection agency?
In
order to run a lucrative business you need to be paid. When your customers pay late or do not pay at
all your chances of recovering the payment decrease. The longer you let it go,
the more difficult it becomes to recover.
Before you write it off turn those late payers over to a debt collection
agency.
As
an owner of a business, you provide products and services in exchange for a
fee. But when clients fail to make the payment on time, your business suffers.
Do not waste your resources and valuable time to recover the money owed to you.
Hire a good collection agency service which will do the work for you.
The
best collection services have the capability of tracking down customers and
requesting payment. Even if your delinquent customer skips the state or the
country, collection agencies work together to track them down and help them pay
their bills.
Collection
agencies place phone calls and send letters to your debtors. Most of them also
offer litigation services if your situation needs further legal action.
The
best debt recovery agencies do not charge anything if they fail to collect your
payment. So, you won’t lose anything while trying to recover your funds.
What to look for
in a good collection agency service?
While
choosing the best agency for you, ensure that the agency offers features which
are beneficial for your business. The major highlights of the best recoveryservices are listed below:
Services
they offer:
Collection
agencies contact your debtor in order to recover your unpaid bills. Most of
them will provide you with the benefit of skip tracing which is locating
current addresses and phone numbers. Skip tracing is often the method of
tracking down hard-to-find people.
Collection agencies track down the debtors even if they have seemingly
evaporated in order to avoid paying their debts.
First
of all, by law, these agencies send a letter to your debtors notifying them
that they have been sent to a collection agency and that they have 30 days to
validate the debt, dispute the dept or to pay their debt before being reported
to the credit reporting agencies. This is the first step of requesting payment
which can be very effective.
The
second step for a collection agency, after the required validation period is
reached, is to start phone calls to your delinquent payer.
If
it is discovered that your customer has assets that could pay the bill,
collection agencies offer litigation services if you wish to take legal actions
in order to recover your payment.
You
may want a service that offers foreign or out of state collections if you deal with
out of state or international clients. Many debt collection services offer foreign collection.
Prime features
of professional collection services:
The
reputation of the agency should be a main concern while considering the
attributes of any collection agency. You have to check out customer reviews
online if you want to know how the agency treats you and your delinquent
customers as well as how many complaints the agency has against them.
Another
essential feature of a collection service is an online system and client
portal. This is beneficial in order to receive updated information on the
progress the company is making in order to recover your debts.
Other
important features are any industry affiliations, licenses and the professional
references the company has.
Support and help
provided by a Collection Agency:
You
want a good collection agency who is quick to respond to all of your
inquiries. The agency must be proactive so that you can contact them whenever
you need. Professional collection
agencies always offer their support through email and telephone. Some
agencies also provide the client with a live chat on their website in addition
to a client portal.
When
it comes to selecting a good collection agency, go for one that is honest and
reputable. Try to opt for a service that fights to restore your funds without
damaging the good image of your business.
Some tips for
hiring a debt recovery or debt collection agency:
Debt
collection has been around as long as there have been unpaid bills. There are
many kinds of collection and recovery agencies available in the industry. First
party agencies work inside your company to recover debt. Third –party collection agencies are separate
companies hired to receive the debts on the behalf of your company for a
commission. Debt purchasers buy the debt
at a percentage of its value. After that, they attempt to collect it and keep
the proceeds. Each state and country has
its own rules and regulations regarding the rules of these types of collection
agencies.
Often
collection agencies specialize in certain fields and areas. Some are expert in
securing receivables for large firms while others are serve small businesses.
There are medical specialists, commercial specialists, government and utility
debt collectors. You need to find out
what kind of debtors the recovery agency generally deals with. Also check out
what sort of services and businesses it provides.
If
you are looking for an effective California based collection service, then your
search ends here. ‘Retailers’ Credit Association of Grass Valley Inc.’ is
Northern California is a debt collection service which is dedicated to recover
a wide array of delinquent receivables. RCA is known to be one of the best and
trustworthy debt collectors
headquartered in Nevada County, CA.
RCA
is a collection service team which cares about you and your customers. By
offering collection and recovery services since 1927, RCA has extensive
experience with delinquent accounts.
Services offered
by Retailers' Credit Association:
The
RCA Grass Valley provides you with a complete package of recovery services
along with an excellent recovery rate. This dedicated agency aims to keep you
out of litigation. Some of the major plus points of this leading collection
service agency are listed below:
ü This
agency uses high quality and up to date software that networks with over 2500
agencies throughout Canada, United States of America, Pacific Rim and Europe.
ü RCA
Grass Valley agency helps to secure online access to your accounts so you can
check the status of your accounts whenever you wish to. It also offers personal
service at the convenient local office.
ü The
RCA Grass Valley agency also offers in house civil judgements collections and
Small Claims collections.
ü Apart
from all these, RCA’s system of professional
debt collection also provides you with personalized training programs in
order to help you with future collection issues.
5 star service:
If
you have a large volume of collections, then sign up for the 5 star servicesoffered by RCA. In addition to collection services, Retailers’ Credit
Association will assign a personal collection official to assist you regarding
agreements, cash flow and the A/R plan.
The
agency will also provide you with a check list and a site visit to upgrade your
signed agreements. You will get up to five free Notary services per year and
you won’t have to pay any set up fees while assigning judgements. The
collection service agency also provides you with several training programs to
avoid the A/R pitfalls and to improve the cash flow of your business.
Premium service:
If
you have a few delinquent customers then you can opt for the premium service of
RCA Grass Valley. You can check the details of your accounts, 24/7 with their
client access website and learn each step that the collectors use to recover
your debt.
If
you choose, an experienced legal team can file suits regarding your
assignments. The team utilizes several methods which are granted by the court,
in order to assure the judgements. Then the team will be able to levy banks,
attach property, perform an Order of Exam and garnish wages. You would also get
here Notary Service for each assignment. A local, well skilled staff member
would be recruited to keep you safe from legal actions.
The
professional team members of RCA Grass Valley use certain collection software
which helps to implement tasks such as searching assets, skip tracing,
processing of lawsuits and reporting credit.
Court Judgements:
Retailers'
Credit Association is ready to take all the burdens regarding the recovery of
your debts if you have an active judgment from Superior Court or Small Claims
Court.
This
collection company provides you with a monthly check with full details of each
and every collection payment that the agency received the last month. An
experienced legal team would be assigned to file suits regarding your
assignments. The team utilizes several methods which are granted by the court,
in order to assure the judgements.
The
team is also able to levy banks, attach property, perform an Order of Exam and
garnish wages. You would also get here Notary Service for each assignment. A
local, well skilled staff member would be recruited to keep you safe from legal
actions.
Apart
from all these, RCA Grass Valley is specialized in making unique strategic
plans. This agency has implemented several beneficial programs which are
designed to help you reduce your expenses in the sectors of tax reduction,
energy and health benefits. Through its years of experience, RCA is able to
provide you with many cost saving programs.
RCA Collection Services
830 Zion St Nevada City, CA 95959
(530) 478-6444
Info@RCAGrassValley.com
http://www.rcagrassvalley.com/
