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Debt Collection: Effective Strategies For Any Business

Collecting money from uncooperative clients can often be a part of doing business. Having a few useful debt collection strategies in your back pocket can make a world of a difference in preventing these types of predicaments.

When preparing to visit or call a customer, make sure you know exactly when products or services are due so you have facts to back up your claims. Also come to the realization that some clients might have reasons for not paying on time and may try to put it off further. It’s OK to listen and acknowledge these reasons, but hold your ground by reminding them of the contract which they have agreed to. If a customer has a history of paying on time but has an occasional excuse, you may consider being flexible with their payments but don’t make it a pattern.

Lastly, be an optimistic when trying to collect debts. Going in with a negative attitude may come off in your communications with a client and lead to a poor business relationship.

For more debt collection tips, contact a Rapid Recovery Solution representative today.

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Debt Collection Solutions You Need To Know

It can be a tricky situation: recovering money that’s rightfully owed to you. With a few helpful tips, you can increase your chances of full debt collection in an efficient, professional manner.

Billing clients: make sure your invoices are designed and explained with simplicity in mind. This will allow your client to clearly see when and how much is due.

Map out payment terms at the start: clearly let your clients know what their payment options are to avoid confusion down the road.

Require full or partial payment upfront: it doesn’t hurt to ask. Some clients will willingly pay all or a good portion of the bill before services are even delivered. This can make collection much easier when services are complete, or possibly not necessary at all in the case of a full payment.

For other helpful debt collection tips, please Contact Us

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Rapid Recovery Debt Collection Services

The longer an unpaid debt goes without any verbal mediation or pursuit of compromise, the less likely you are to recover any of that money. Allow our debt recovery team to oversee your collection needs for the optimum potential at retrieving those funds.

Rapid Recovery Solution upholds the highest standards when it comes to legal practices and abiding by the various rules and regulations of debt collection. We do not get paid unless our collection efforts are successful.

Contact us today for a free quote regarding a hassle-free process for claiming your unpaid accounts. We are dedicated to the favorable acquisition of your desired account payments.

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Going The Extra Mile To Collect Debt | Skip Trace

Using an exclusive recovery method, also known as Skip Trace, Rapid Recovery Solution implements several reputable techniques to pinpoint the location of your debtor. If you are having a difficult time tracking down a missing defaulter, our debt collection agency can help. Not only does the Skip Trace process optimize detection and location, but our exclusive debt collection methods follow four critical steps to ensure the most potential for payment acquisition.

Through professional communication, negotiation, and legal action, Rapid Recovery Solution is devoted to your case. After all, we do not retain a service fee unless we effectively succeed in obtaining your unpaid accounts.

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Rapid Recovery Is Here To Help Businesses Of All Sizes With Their Debt Collection Needs

If you are battling unsuccessfully with unpaid accounts, Rapid Recovery Solution will resume the debt collection process at absolutely no initial cost to you. Regardless of whether you are a corporation with volume needs, or an individual with a single transaction, Rapid Recovery Solution utilizes modern technology and strategic steps that are proven to be successful at collecting unpaid debts. Rather than spending countless man hours at multiple failed attempts to contact your debtor, allow us to take over your collection tasks with tactics that maximize your potential for payment. We only retain a service fee if our attempts prove successful and we are able to recover your debt.

Start now – CLICK HERE

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What You Should Know About Upfront Fees

It’s simple, really—you should never have to pay upfront fees for debt collection services.

Debt collection agencies who charge upfront fees or attorney retainers are simply not confident enough in their skills to offer their services for no charge unless they are successful. You may not need legal services, so why pay retainers or other fees for things you may not need? Rapid Recovery Solution tackles debt collection with the mentality that clients should only be charged if debt collection efforts are successful. There are no upfront fees, and RRS uses a high payout percentage scale to pay more than other collection agencies.

At RRS, you will also have access to a network of experienced debt collection attorneys and dedicated debt collectors with excellent track records. These services are offered without extra fees, ensuring each and every debt collection cases receives the highest priority of care.

Learn more about what RRS can do for you and your business today.

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Using Technology to Track Down Debtors

Skip Tracing refers to methods used to pursue debtors who have gone missing. It is an unfortunate reality that many debtors relocate in an attempt to leave debts behind them and stop collection calls and other efforts. Account receivables departments at many businesses feel overwhelmed by such bad debt collection cases and may give up, forfeiting the funds that are rightfully theirs.

Fortunately, debt collection agencies now employ technology to help track missing debtors. Debt collectors work tirelessly to discover leads and uncover information to find out where missing debtors may have gone. Even though there are various laws regarding who a debt collector can speak to about a debtor’s personal information, skip tracing is highly effective. A properly licensed collection agency that operates within the law can even employ deep skip tracing methods to locate debtors who have moved to another state or even country.

As a fully-licensed collection agency, Rapid Recovery Solution is prepared to tackle complicated debt collection cases using skip tracing technology.

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The Importance of Laws and Regulations in Debt Collection

Are you properly protecting your business from lawsuits and debt collection scams? You may have made sure that your accounts receivables department operates within the law, but you also need to make sure any outside services you use are fully prepared to remain compliant with laws and regulations. The importance of this cannot be stated enough, and any debt collection agency that is unclear about compliance should be avoided.

Regulations vary by area, and it is important to do your research before hiring a collection agency. Ask the agency if they are licensed (if required by your state), if they can pursue debt collection cases over state and country lines, and what kind of legal counsel they have available. While lawsuits over debt collection cases are rare, it is always worth it to be prepared and partner with collection agencies that reduce your liability as much as possible.

Rapid Recovery Solution employs in-house attorneys and a network of legal professionals to ensure compliance with legal codes in every U.S. States and many countries. Contact RRS or explore the website to discover more about how debt collection can be risk-free.

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How Debt Collection Works—And Doesn’t Cost You a Dime

Debt collectors often get a bad reputation for being bothersome, cold, and not understanding. In reality, collection agencies approach debt collection with a multitude of approaches. This is due to a realization that each and every debtor is different.

Methods: While debt collection agencies are aggressive in pursuit of debt, the main goal is to get in contact with the debtor and recover at least part of the funds. Professional calls and letters are used initially, inviting the debtor to communicate with the agency. Skip tracing may be used to track missing debtors by searching for leads using known information, and legal action may be taken very rarely. Regardless, collection agencies must remain professional and non-threatening to be successful, and there are many legal codes and guidelines to be followed as well.

Cost: Debt collection services actually shouldn’t cost anything unless recovery efforts are successful. Commercial collection agencies typically take a percentage of recovered funds—and that’s all they should take. Be wary of agencies that charge upfront fees.

With a high payout scale and recovery rate, Rapid Recovery Solution allows businesses of all sizes to recover owed debts without risk and additional cost.

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Where to Turn? Overwhelmed Businesses Rethink Debt Collection

It’s not uncommon for account receivables departments to encounter bad debt collection cases and unreachable delinquent parties. The longer a sum goes unpaid, the more it costs in terms of labor and time, and the chance of successful recovery becomes less and less. It is advisable for accounts receivable departments to devise guidelines for referring debt collection cases to commercial debt collection agencies before the costs become too great and recovery chances diminish.

By working with a collections agency, staff is then free to focus on other projects and more reasonable cases. Debt collectors at a collections agency approach debt collection aggressively, and their entire job is to pursue debtors and recover as much money as they can in the shortest amount of time. With capabilities such as skip tracing and high-tech software solutions used to gather information, a third-party debt collection agency is equipped to handle all debt collection cases.

Rapid Recovery Solution takes on difficult cases and has a high success rate when it comes to recovering funds. Unmatched collection services make RRS a clear choice for businesses of every size. Begin recovering the funds owed to you while enhancing business operations by taking advantage of professional collection services.