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Working With A Commercial Collections Agency

  • Commercial Collection Agency
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So you’ve done your due diligence and selected the right commercial collection agency for your business’ needs, what now? Although you may feel that your work is done having handed your debt collection efforts off to the professionals, it is still important for you to take an active role in the relationship you have when working with a Commercial Collections Agency. Although you hired the agency for their expertise, experience, and sound judgment, the agency can better do its job with you taking an active role in your working relationship.

*Be sure to read our article on 5 Things to Consider When Hiring a Business Collection Agency

Think of your agency as a partner, somebody to work with and not just an outsourced contractor. If possible, meet with your agency’s representative periodically to review the status of your accounts. If this option is unavailable due to logistics, have regular communication with them via the phone or email. Be sure to insist on prompt responses to your calls or emails, it’s not too much for you to ask for phone calls and/or emails should be responded to within one business day. However, in doing so, make sure you reciprocate. Respect goes both ways.

Working with a Commercial Collections Agency

In order to ensure the highest possible rate of returns on your outstanding receivables, when working with a commercial collections agency, be sure to provide them with as much information about the debt and debtor as possible. The more information the commercial collections agency has the more potential money you will be able to collect. That information should include the following:

  • Any names associated with the debtor: Debtor’s name, spouse, friends, relatives and/or neighbors, including any nicknames, maiden names, aliases, etc.
  • Addresses: business and personal.
  • Contact information: telephone numbers, business and personal, including cell phone numbers, and any and all email addresses associated with the account.
  • Purchase and/or transaction details, including dates, amounts, type of, etc.
  • Any paperwork related to the transaction, including contracts and credit applications.
  • Any and all correspondence you have had with the debtor, including any feedback or acknowledgments to your debt collection efforts you have received.

By providing the above information and maintaining communication when working with a commercial collections agency you can help reduce frustrations and could very well speed up the commercial collections process.

If you are a business owner trying to collect on past-due accounts, a reputable Commercial Debt Collection Firm can often help.

We invite you to give The Stevens-Lloyd Group, Inc. a try…

Place an account with us right now and see what we can do for you!

It’s easy. Here’s all you need to do:

Just fill out this convenient online placement sheet. Once it’s sent, you’ll be on the road to discovering The StevensLloyd Group, Inc. difference!

If you are a business owner trying to collect on past-due accounts, you may find the process quite frustruating. Turning accounts over to a collections agency may seem like a desperate step. But debt collection is a team effort, with you and the collection agency working together to accomplish the same goal: recovering your money. Contact The Stevens-Lloyd Group today so we can start working together right away.