Everyone wants a clean slate at the beginning of 2024! That’s why the end of the year is an important time to clean up delinquent accounts. As we’ve mentioned in previous blogs, the best time to contact a debt collection agency to get maximum recovery is 60-90 days within the invoice due date. The older a debt is, the harder it is to get the full return. Here’s the general breakdown of how the age of the debt affects the collection rate:
- At Due Date: 94.9% collection rate
- After 30 Days: 89.9%
- 60 Days: 81.3%
- 90 Days: 69.6%
- 6 Months: 52.1%
- 9 Months: 39.1%
- 1 Year: 22.8%
- 2 Years: 9.3%
Let a Debt Collection Agency Recover Old Debt
You should enjoy the holidays without the stress of chasing down debt. The expert debt collectors at RSD specialize in using an efficient but friendly approach. To get started, call (248) 370-8160 or submit a contact form here.
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