How do collection agencies work? At what point should you seek their services (minimum amount owed, months overdue etc.?
Also check out the FAQ http://www.madagency.com/mad-faqs.shtml When to Hire a Professional Collector As an account ages, the chances of collecting on it decrease dramatically. It’s expensive to carry accounts that you will not be able to collect using the methods at your disposal. It’s often a better use of your company’s time and resources to concentrate on other aspects of your business. A Professional collection service can assist you in collecting accounts that remain delinquent. Collectors have a vast knowledge of collection techniques, technology and compliance issues. Using a professional collection service will save time and likely yield better results. Look for the following signs that you may need to work with a collection service: 1. A new customer does not respond to the first reselling notices. For some unknown reason, the consumer will not or cannot pay.
