If you want your problems with collecting debt to be over, and you want to recover the money that you’re owed fast, you can hire a debt collection agency to solve the problem once and for all. When you work with our team at Summit A•R, you can take any problem that has to do with debt and make it disappear quickly, but that’s not the only reason why business owners work with us.
The Common Problem of Lost Income
Credit is an essential aspect of building business partnerships in many industries. Occasionally, a situation occurs wherein you’ll require the services of a commercial collection agency to recover income from a party that is not paying off their debt owed to your company. While this situation is not exactly inevitable, it is all too common to ignore.
What to Do When You Need Debt Collection Solutions
Given the high likelihood that any business can encounter a situation where they are owed money by a business partner or client that is either unable to pay or flat-out refuses, you’ll benefit from gaining some insight about what to do in this situation in advance. Whether or not it might seem helpful initially, you’ll also benefit from learning what behaviours to avoid when you face this situation.
Knowing the Value of a Team of Experts
The first “Do” on the list for any business owner wanting to recover lost income is to seek out the help of a professional. At Summit A•R, everyone on our team has the experience it takes to know how to return your money quickly.
If you have any concerns about the process, all you need to do is to talk with us at any step along the way. On the other hand, if there’s only one “Do” that you need on this list, it is this one. Hire us to help you return your income, and we’ll do the rest,
Don’t Work Alone
It isn’t a great idea to pursue debt collection on your own. For one, as a business owner, you’ve got better things to do with your time than chasing down a client or customer actively trying to avoid you. If you turn the matter of finding a person over to our skip tracing department, you won’t need to waste your time trying to track down debtors.
Abiding the Law Regarding Collections
Secondly, and most importantly, our team of experts knows the law when collecting a debt owed to one of our clients. If you try to track down debtors on your own, it is all too easy to end up in a situation where you’re at risk of breaking the law.
In such a situation, where business owners feel that they have been slighted or are being cheated by a customer, tensions escalate quickly. Even if you do not intend for things to get out of hand, they often do.
Get Help Avoiding this and Other Don’ts
One of the most valuable “Don’ts” you can learn is to avoid breaking the law, but that can be difficult if you don’t have the help of professionals who understand collections law inside and out and can advise you along the way.
We understand that you care deeply about protecting your business, but that’s all the more reason to protect it by ensuring that you never enter into illegal territory when pursuing lost income from debtors.
That’s where the services of a debt collection agency become invaluable. Not only does our team of experts have a wide range of experience in legal matters pertaining to commercial debt collection, but they also stay up-to-date on the latest developments in debt collection law.
Given that the legal standing on fair debt collection practices changed dramatically less than a year ago, there’s no doubt that working with a professional collection agency will help you know the latest collections law.
Work with an Ethical Debt Collection Agency
When you work with a professional team, ensuring that your collections are always ethical and legal becomes a breeze; that’s because you won’t ever need to worry about whether or not you’re breaking the law when you partner with a company that upholds a high standard for ethical debt collection and espouses a mandate to preserve human dignity at all times.
At Summit A•R, our ethical mandate is guided by a policy to preserve human dignity at all times. This means that we are the only collection agency with a P.H.D. in ethical collection strategies. It also means that we’ll work hard to preserve the valuable business relationships that you’ve already spent many years developing. Contact us to learn more about what our P.H.D. means to the team here at Summit A•R.
When you work with our team of debt collection experts, you’ll also gain access to essential additional services. For example, you can opt for pre-collection services to ensure that you’ll never end up with overdue income that is owed to your company in the future.
This means that you can outsource your accounts receivable department so that our team can manage the credit you offer to clients and business partners. Pre-collections refer to the steps we’ll take to ensure that the income you earn arrives on time and that no old invoices linger around without getting paid.
The best advice on what Do’s and Don’ts you need to follow when it comes to debt collection are:
- Don’t Try to Resolve the Problem Alone
- Do Work with an Ethical Debt Collection Agency
You won’t have to worry about crossing the legal line when you know your account will be handled properly by a team of experts. Please contact us immediately if you’re already facing a situation where you’ve lost out on income due to unpaid debts owed to your company. Or, if you’re curious to learn more about how we will handle your case, please contact us any time.