Tag Archives: collection agency

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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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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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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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Persistence Pays Off in the World of Debt Collection

The best debt collection practices involve persistence. While this seems simple, persistence takes a lot of work and hours. In especially difficult debt collection cases, accounts receivable departments can begin dedicating too much time to one case at the expense of more important and lucrative projects. Many delinquent clients have no interest in talking to a bill collector, and fruitless efforts can easily strain employees engaged in debt collection tasks.

When tasks become too burdensome and expensive for businesses to handle in-house, they outsource. Thanks to the emergence of many professional collection agencies, debt collection can now be outsourced as well. Third-party collection services do have the manpower and time to allocate to recovering debts through relentless—yet professional—persistence.

Rapid Recovery Solution employs professional debt collectors that begin quickly and pursue delinquent parties until your funds are recovered. The service doesn’t cost a dime unless fund are recovered and there are no upfront fees, making RRS a beneficial, hassle-free debt collection partner.

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Skip Trace Brings Missing Debtors Back Into the Picture

The most difficult debt collection cases often involve debtors that have skipped town. Unfortunately, this scenario is not uncommon. Missing debtors cause undue stress for account receiveables departments and force businesses to spend additional time and money to recover the funds that are rightfully theirs.

Experienced collection agencies employ tactics known as skip tracing to find missing debtors. Through the use of skilled debt collectors, conducting research, using advanced technologies, and even employing detectives, a collection agency can often quickly find a debtor who has relocated to another town, state, or even country. Collection agencies often offer skip trace services as part of their general packages, allowing more businesses to take advantage of these methods and recover more of their money.

Rapid Recovery Solution uses skip trace and deep skip trace methods to locate missing debtors and recover funds quickly. RRS does not charge fees unless funds are recovered, making the agency a great choice for difficult debt collection cases.

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Understanding the Benefits of Debt Collection

Businesses may feel that their accounts receivable departments aren’t meeting demands or are ineffective when some debts remain unpaid. This simply isn’t true. Every business faces a situation where a customer refuses to pay or disappears, and it can be quite a burden.

Letters, phone calls, electronic communications, and personal visits can only go so far. Each customer is different, and some cases will get out of hand. With these more difficult cases, a debt collection service can recover some funds instead of no funds.

A debt collection service can:

  • Recover money quickly
  • Recover money in difficult cases that are typically impossible for businesses to manage
  • Remove stress from your accounts receivable department, allowing you to focus on more important business operations

Rapid Recovery Solutions guarantees a recovery of funds, making for a choice that is nothing but beneficial. Contact Rapid Recovery for a free quote regarding collection agency services and get your money back.

Information is the Key to Collection Success

It’s easy to think a debtor hasn’t paid due to simple negligence or reluctance, but this may not be the case at all. Information allows debtors to understand their debt, and breaking down payments into simpler terms can make the situation less overwhelming for debtors. Accounts receivable departments can obtain higher success rates by having information ready and using it appropriately.

Sending frequent reminders to debtors can increase the chance of recovering funds. Using language that isn’t threatening will help even more, as communications should always remain professional. Let debtors know you are available for questions and that you are aware of their debts. It’s also important to notify debtors when additional action will be taken, such as forwarding the case to a collection agency.

On that note, debt collection can lead to expenses and wasted time. If your plan of action doesn’t work with a specific debtor, consider using collection services before things get out of hand. Rapid Recovery Solution offers a satisfaction guarantee and a free quote to recover your money quickly.

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Have you revisited your collection plan?

Collecting money for products or services which you’ve provided can often be a daunting task. While many companies have a collection plan in place, they might not review their plan enough. Incorporating new ideas and strategies can increase the likelihood of being paid by vendors, so it can hurt to have a stale collection plan.

Take control of your accounts receivable management by reviewing your policies every few months to a year. An important factor to consider is how often your company contacts a vendor about an outstanding balance, whether this is by letter, email, phone call or even personal visit.

Review your collection plan at certain intervals to ensure you’re putting yourself in the best position to collect money from your debtors on time.

Let Rapid Recovery help you with your debt collection needs.  Get a FREE Quote today for collection agency services.

Varying Debt Collection Approaches Can Lead to Better Results

Experienced debt collectors realize that each case is different. There may be a multitude of reasons debtors aren’t making payments. Because of this, debt collection crosses between the worlds of business and human interaction.

Accounts receivable departments have to approach many kinds of people, making a “one-size-fits-all” solution impossible. It’s important to never assume somebody isn’t paying simply because they don’t want to or are trying to scam you. It’s much more likely that they can’t pay at the moment or are unaware of the full situation.

Collection services need to utilize quality information and communication methods for the best results. Rapid Recovery Solution has developed a truly comprehensive approach to debt collection. A free quote from this collection company can provide relief to your business and recover missing funds in no time at all.

Don’t lose sight of accounts receivable basics

Debt collections can be challenging with certain clients, but focusing on the fundamentals can make a world of difference. Don’t forget these simple steps to ensure you’re properly receiving the money you’re owed.

Send an invoice – A timely reminder for the customer will increase your chances of being paid on time.

Outline payment amount and due dates – A detailed invoice can eliminate confusion for your customers, and alert them to when they’re expected to pay for products or services.

Include pertinent invoice information – A purchase order or job number helps both you and your customers know exactly what an invoice is in relation to.

For more debt collection strategies and tips, contact Rapid Recovery Solution.

Let Rapid Recovery help you with your debt collection needs.  Get a FREE Quote today for collection agency services.