Tag Archives: debt collection

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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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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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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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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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The Importance of Regulations in Debt Collection

Debt collection agencies must adhere to national and federal regulations. The various laws, acts, and ethical guidelines can make debt collection difficult for those who are not equipped to handle the task properly. For this reason, it is important to select a debt collection agency with capabilities that align with your goals and needs while working within the law.

There are license requirements that vary between states and countries, and it may be necessary to select an agency with the capability to collect debt across borders. It is also important to select a collection agency that deploys debt collection methods that match your end goals and ethical guidelines. If an agency is too rude or aggressive, a debtor may try to retaliate or make the situation more difficult. Those looking for dental or medical billing debt collection need to select an agency that is sensitive to maintaining the patient-provider relationship. Collection agencies should have an excellent track record in terms of recovery and a positive reputation.

Rapid Recovery Solution is licensed to work in all fifty U.S. states and hundreds of countries worldwide. An effective multistage approach maximizes efficiency and the chances of recovery, and a network of attorneys is available to ensure compliance to legal regulations and codes.

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Making Collection Practices More Successful

Feel like your accounts receivable department can do more to aid debt collection? Even the largest, most-powerful businesses face struggles in this area. Many customers are quite good at escaping collection calls, and some have been known to even skip town.

The first line of defense against loss of funds is to develop and implement strong debt collection practices.

  • Contact customers frequently to ensure they know about the debt. Trying various forms of communication (mail, electronic mail, phone, etc.) can lead to additional success.
  • Have resources on hand when customers do contact you about a debt. Being available to take calls and address concerns and questions can increase the chances for recovery. Facilitate clear, professional communication and be willing to negotiate in terms of unpaid debt.
  • Treat customers with respect. Don’t assume a customer is trying to swindle you or simply avoid paying. They may not be able to pay at the moment or may not have the full amount. Again, keep an open mind and have policies in place for fair negotiations. Recovering some money is much preferable to recovering none.
  • Have guidelines in place for referral to a debt collection agency. After a certain length of time or certain amount of debt unpaid, difficult cases should be referred to a debt collection service for assistance. A debt collection service can help recover funds quickly and get the problem taken care of.

Rapid Recovery Solution offers free quotes and fund recovery guarantees. Find out more and add a quality debt collection agency to your arsenal.