In the face of today's changing economic climate, recognizing and managing future risks becomes a priority for credit professionals. Stevens & Ricci business credit solutions can provide a business with products and services to enhance cash flow. For corporate education, see our
Resource Center. For third party collection services, see our section on
Commercial Debt Recovery.
Why You Need Attorney-Assisted Collections
The Akron Beacon Journal reported on a gentleman who was being harassed with multiple phone calls every day over a debt that did not belong to him. This poor man worked a second shift so the constant phone calls during the day interrupted his much-needed sleep, all the while the collector refused to identify the person he was looking for, or the debt he was trying to collect on. The article noted the following:
Debt collectors are not checking to see if phone numbers or addresses they have are actually the people who currently have the phone number or address, Sherry said.”The point of contact is some commissioned sales person. Of course, they’re going to try their best to get some money,” she said. Debt collectors often will use a technique called ‘’skip tracing,” a method to try to find any connection to a debtor — which can include finding neighbors, former employers or relatives.
”Skip tracers make huge leaps of faith. They may be looking for a Fletcher and see another Fletcher in northern California and start pestering that other Fletcher,” Sherry said.
The article does an excellent job of describing a problem you can run into when you rely on a collection agency that uses unsophisticated, uneducated, and frankly, underqualified, individuals to collect on your accounts.
That is one reason
why we use the attorney-collector team model in our collection effort. Our attorneys are not going to be making random phone calls to your debtor in a “leap of faith” to find someone to talk about the overdue account. As the cost of our services are comparable to a “run-of-the-mill” collection agency, entrust your overdue accounts to professionals who understand the sensitive nature of business-to-business collections.
