Tag Archives: find a debt collection service

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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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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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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.

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Protecting Your Profits when Using a Collection Agency

It is important to recognize how collection agencies make money from debt collection services. Most collection agencies simply take a percentage of the recovered funds, meaning services do not need to be paid for upfront. It is best to avoid collection agencies that charge fees and retainers before any funds are recovered.

The payout amount often depends on a few main factors. How old the account is, the volume of accounts, how much money is owed, and the collection agency’s percentage payout policies will all influence your bottom line. The best choice is a collection agency that provides fast recovery, large percentage payouts, and guarantees. That way, your money is not at any risk and you only stand to profit.

The guarantee offered by Rapid Recovery Solution ensures the collection agency does not get paid until you do. Clients of RRS receive access to a skilled network of attorneys, advanced debt collection methods, experienced debt collectors, and skip trace services without upfront fees and retainers. Receive a free quote and enjoy risk-free debt collection that will get you paid.

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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.

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Tips For Hiring a Debt Collection Agency

Businesses do their best to recover owed debts, but some cases simply are too difficult to handle alongside regular business operations. Your time and money are important, and debt collection often consumes both. Hiring a qualified debt collection agency can reduce the strain on your business and recover funds once and for all, freeing up employees and departments to focus on other important projects.

Consider Your Needs

Is your business a small home-based operation, a small to mid-sized firm or a large company? Are your cases very difficult, or are you simply looking for a helping hand? Look into various companies and see if their services match what you are looking for. If you’re trying to track down funds owed by a large business, for example, a company that only specializes in small claims probably won’t fit the bill.

You’ll also want to ensure the debt collection agency is well-equipped to successfully collect your money. One service offered is known as “skip tracing”, and it helps track down debtors who have left the area with little or no trace. These cases are very difficult for businesses to handle on their own, but debt collection agencies are professionals equipped with special tools and methods to get the job done.

Consider Qualifications

In addition to what the company offers, you will also want to ensure the debt collection agency of your choice is properly licensed and follows legal regulations and rules. You definitely don’t want to hire a company that uses unfair practices to collect debts, as such behavior can tarnish the reputation of your business as well. You will also want to be sure the collection agency has insurance to protect against cases where debtors sue. Obtain proof of insurance right away to protect yourself from liability if the collection agency uses inappropriate practices.

“A collection agency should make an effort to provide you with the information you need for successful collections. A company that keeps you in the dark should be avoided,” says John Monderine, president of Rapid Recovery Solution. Rapid Recovery offers free quotes and regular articles with collection tips, showcasing their transparency and skill before businesses even contact them. More information generally does lead to better results, and it is something to watch for in your research.

Consider Costs and Guarantees

How much does each agency charge, and is there any guarantee or time limit? The last thing you need is a shady debt collection agency wasting your time and money with a never-ending case. It’s best to hire a collection agency that adheres to clear guarantees. Most agencies won’t charge you a fee unless the money is recovered. Of the recovered amount, agencies generally take a cut depending on how difficult the case was. Remember, receiving some of the money you are owed is better than not receiving any of it. Hiring an agency early will generally be cheaper, but do be sure you’ve gone through all reasonable options before hiring one. An experienced agency like Rapid Recovery will be able to provide quick recovery of funds at a rate that works for your business.