At some point, most businesses look to hire a debt collection agency to help them get paid on past due accounts. In this past, we’ve discussed some things that you should look for when you’re making this decision. Yet, if we had to choose the single most important thing that you should know, it would be that whatever debt collection agency you choose directly reflects upon your business.
First or Third Party: Doesn’t Matter
It doesn’t matter if you’re hiring a debt collection agency for first or third party collections. How they treat your past due clients and former clients will directly reflect on you and your business. First party collections means that the agency calls and acts as an extension of your business. For instance, if the bill collector assigned to your account is Mary Smith and your business is named ABC Marketing, she may identify herself as Mary Smith from ABC Marketing although she works for the collections agency and not for you. With first party collections, it’s easy to see how past due clients would associate the words and behavior of the agent with your business.
With third-party collections, the agency either buys the past due account from your business or they simply represent themselves as a debt collector and not as someone who is part of your business. However, past due clients will associate the words and behavior of the agent with your business because that is where the debt comes from.
Protect Your Reputation by Hiring the Right Debt Collections Agency
Hiring the right agency is a way to protect your reputation as a business both online and off. The collections process is difficult and many people don’t purposefully run up a bill they can’t pay. They could lose a job or have a serious medical issue. So, collections can continue to be seen as a business opportunity to show off your business’ customer service skills.
If you hire a debt collections agency that has a history of verbally abusing debtors or one that has pending lawsuits because they’ve violated collections law, you’re putting your reputation on the line. In a world where many people look for information about businesses online before making a decision, all it takes is one bad review from someone who is upset because of how they were treated even during the collections process. Keep in mind that they likely won’t tell the whole story…and they won’t have to for it to negatively affect your business.
You can protect your reputation by doing your research and hiring a debt collections agency that has the same high standards for customer care and service that you have.
Looking for a Debt Collections Agency That Focuses on Customer Care?
If you’re looking to hire a debt collection agency that will help protect your business by providing customer care and a solutions-oriented collections focused, schedule your free consultation with Clients ARM. With more than 30 years of experience, we provide both first and third party collections. Clients ARM is licensed as a third party debt collector in several states and is in good standing with several professional debt collection organizations. We make the process simple for our clients while providing reasonable contingency rates. Learn how old fashioned customer service can make a difference in your collections process. Call us right now!