If you owe money, you know that nothing is more annoying than collections agents. They call day and night, and they don’t seem to care if it is Sunday or not. They just want to collect the money you owe someone so they can earn their commission. Collections agents are often pushy and brash, but you have to remember that most people will either hang up on them, or will perhaps feed them a line of bull if they manage to get them on the phone. They may be a pain, but remember that they are just doing their job, and they get paid to annoy you.
If you own a company, you know that when customers owe you money, there are good reasons why people are late, and there are others who simply don’t feel that paying you is a priority. You can try to deal with these people on your own, but there comes a point when you think you are spending more time collecting debts than you are paying attention to the customers who do pay on time. When this happens, you can hire collections agents to help you get some or all of your money back.
Collections agents will charge you a fee, and the fee will depend on what their company policy is. Some companies buy the debt from you for a percentage of the debt, and then they attempt to regain their money through the customer who owes. Others will take a percentage of the recovered debt after they have managed to get the payment in full. What you want to do will be up to you, and you should talk to a few different collections agents before you decide which way to go.
Remember that no matter how good or how persistent some collections agents are there are some debts that will never be recovered. This happens for a great many reasons, and sometimes, a person will refuse to pay because of the collections agents. If they are too rude, or too demeaning, they may have the opposite effect they are looking for. Talk to your collections agents about how they operate to decide if you think they are worth your time or not. Not all of them are good, and you want the best. You want an agent that will try to work with the debtor. Many times people respond to kindness, and threats only make them hang up and never answer the phone again.