Myths About Debt Collectors - Part 2

Have you heard only bad things about debt collectors?

If you’ve only heard that collectors are heartless sharks, then you haven’t heard about debt collectors who are good at their job. There may be heartless collectors out there, but on the whole, people in the collection business are nothing like the cold rumors you may have seen online. 

In our last blog, we talked about two myths about debt collectors. Here are two more myths and why they’re incorrect:

Debt Collectors Resort to Threats and Harassment

Ethical debt collectors operate within the bounds of the law and professional standards, which strictly prohibit threats, harassment, or abusive behavior towards debtors. Maintaining a respectful and professional demeanor is not only required by regulations like the Fair Debt Collection Practices Act (FDCPA) but also crucial for good communication and resolving debts amicably.

Debt Collectors Have Unlimited Power to Collect Debts

While collectors have a duty to pursue debts owed to creditors, their authority is not limitless. Debt collectors must operate within the confines of the law. This includes respecting debtors' rights, such as the right to dispute debts, request validation, or seek assistance from consumer protection agencies.

Have Questions about Credit Collection Services?

Don’t be afraid to talk to a debt collector!

If you have questions about any credit collection services, our B2B collection experts are more than happy to chat. To get in touch, call (248) 370-8160 or submit a contact form here.

Myths About Debt Collectors - Part 1

What comes to mind when you think of a debt collector?

It’s possible that you’ve only heard bad things about debt collectors. Here’s why you should change the way you think about people in collections:

Debt Collectors Enjoy Making People's Lives Difficult

Contrary to popular belief, debt collectors are not motivated by a desire to make people's lives difficult. The primary goal is to recover outstanding debts for clients while adhering to legal and ethical guidelines. They understand that financial difficulties can arise for various reasons, and our aim is to work with debtors to find mutually beneficial solutions whenever possible.

Debt Collectors Are Unsympathetic

While debt collectors must follow certain procedures and regulations, it doesn't mean they lack empathy. Good debt collectors recognize that each debtor's situation is unique and are often willing to explore alternative payment arrangements that take this into account. The ultimate objective is to find a resolution that satisfies both the creditor and the debtor.

Have Questions about Credit Collection Services?

Don’t be afraid to talk to a debt collector!

If you have questions about any credit collection services, our B2B collection experts are more than happy to chat. To get in touch, call (248) 370-8160 or submit a contact form here.

Why Choose a CLLA-Certified Debt Collector? - Part 2

What makes a CLLA-certified debt collector different from other debt collectors?

CLLA stands for the Commercial Law League of America. These agencies specialize in outstanding service and results. Here are three ways that a CLLA-Certified debt collector can help you:

Improved Recovery Rates

CLLA certified agencies use proven methods to optimize the debt recovery process. Their expertise in negotiation, communication, and dispute resolution allows them to achieve higher recovery rates while preserving client relationships.

Focus on Customer Relationships

Maintaining positive relationships with customers is essential for long-term business success. CLLA certified agencies prioritize respect in their interactions with debtors, striving to preserve client-customer relationships whenever possible. 

Cost-Effectiveness

While some businesses may hesitate to enlist the services of a debt collection agency due to concerns about costs, partnering with a CLLA certified agency can ultimately prove cost-effective. By outsourcing debt collection to experts, businesses save time and resources that can be used to power the business. And with a high recovery rate, the outcome is an overall profit.

Ready to Contact a CLLA-Certified B2B Debt Collector?

RSD is 1 of 26 agencies certified by the Commercial Law League of America and is endorsed by the International Association of Commercial Collectors. For expert business debt collection services, call (248) 370-8160 or submit a contact form here.

Why Choose a CLLA-Certified Debt Collector? - Part 1

Have you heard of a CLLA-certified debt collector?

CLLA stands for the Commercial Law League of America. These agencies specialize in outstanding service and results. Here are three ways that a CLLA-Certified debt collector can help you:

Expertise and Specialization

CLLA certification shows a high standard of professionalism in commercial debt collection. Agencies that hold this certification are well-versed in commercial law, regulations, and best practices of debt collection. Their specialized knowledge lets them navigate complex legal framework, ensuring compliance while maximizing recovery efforts.

Industry Recognition and Credibility

Businesses can trust CLLA certified agencies to uphold ethical standards and deliver results. Certification by CLLA boosts an agency's credibility and reflects its commitment to excellence. When working with a certified agency, businesses can be confident that their reputation and interests are in capable hands.

Tailored Solution

CLLA certified agencies understand that every business and debt scenario is unique. They offer personalized solutions tailored to meet the specific needs of their clients. Whether it's recovering overdue payments, negotiating settlements, or implementing repayment plans, certified agencies design strategies specifically for their clients' goals.

Ready to Contact a CLLA-Certified B2B Debt Collector?

RSD is 1 of 26 agencies certified by the Commercial Law League of America and is endorsed by the International Association of Commercial Collectors. For expert business debt collection services, call (248) 370-8160 or submit a contact form here.

Set Your Business Up for Financial Success!

Is your business prepared for potential payment disputes?

Here are three tips to help set your business up for financial success and prepare it for B2B debt collection.

Establish Clear Terms

One of the most effective ways to mitigate potential issues with debt collection is to establish clear and concise payment terms from the beginning. Clearly outline expectations regarding payment due dates, acceptable payment methods, late fees, and consequences for non-payment in your contracts. By setting expectations upfront, you minimize misunderstandings and provide a solid foundation for effective debt management.

Maintain Detailed Records

Accurate record-keeping is vital when it comes to debt collection. Keep thorough documentation of all transactions, invoices, payment receipts, and correspondence with clients. Maintaining organized records not only facilitates smoother debt collection processes, but also serves as valuable evidence in case of disputes or legal proceedings.

Implement a Systematic Invoicing Process

Consistent invoicing is essential for prompt payment collection. Establish a systematic invoicing process that sends out invoices promptly upon completion of services or delivery of products. Clearly itemize the charges and payment due dates on each invoice and follow up promptly on overdue payments. Utilizing accounting software or invoicing platforms can streamline this process and help you stay on top of outstanding payments.

Need Help with B2B Debt Collection in Michigan?

Our Michigan debt collection agency is dedicated to helping your business collect money owed with efficiency and empathy. If you’re ready to start collecting, or even if you just need a few questions answered, call (248) 370-8160 or submit a contact form here.

B2B Debt Collection: Tips for New Business Owners

Are you a new business owner?

For many entrepreneurs, starting a business is an exhilarating journey. However, while launching a new venture can be exciting, there can also be challenges, like debt collection. Here are a few tips to get you started:

Communicate Effectively

Open communication is the key to resolving payment issues. If a client falls behind on payments, reach out promptly to remind them of their outstanding balance and inquire about the reason for the delay. Be polite, but firm, and offer flexibility where appropriate. Often, a simple reminder is all it takes to prompt payment and maintain a positive business relationship.

Enforce Policies Consistently

Consistency is paramount when enforcing payment policies. Establish a clear protocol for handling delinquent accounts, including the escalation process for overdue payments. Whether it involves sending reminder notices, imposing late fees, or pursuing legal action as a last resort, ensure that your debt collection policies are applied uniformly to all clients or customers. This demonstrates professionalism and reinforces the importance of timely payments.

Preserve Relationships Whenever Possible

While debt collection is primarily focused on recovering overdue payments, it's essential to approach the process with tact and empathy, especially when dealing with long-standing clients or valued customers. Strive to preserve business relationships whenever possible, even amid payment disputes. 

Need Help with B2B Debt Collection in Michigan?

Our Michigan debt collection agency is dedicated to helping your business collect money owed with efficiency and empathy. If you’re ready to start collecting, or even if you just need a few questions answered, call (248) 370-8160 or submit a contact form here.

Need Help with Legal Debt Collection?

Dreading the idea of going directly to a law firm for collections help?

This excerpt was prepared by Thomas W. Hamilton, Executive Vice President and General Manager of the American Lawyers Quarterly, Cleveland, Ohio.  Copyright © 2009.  All rights reserved.

The volume provided by RSD makes collections profitable for these law firms, and thus they commit resources to their collection practices, including superior technology, personnel, a dedicated legal collections staff, and prioritized partner time.  When a law firm processes a volume of collections files over an extended period of time, they are committed to this practice, and they establish a reputation with local debtors.  This reputation can eliminate a lot of “stall tactics” and increase the probability of settling your cases without protracted litigation.

Firms that process a large volume of collection matters may develop specializations within the field, so that they have particular expertise in handling claims involving the Miller Act, the insurance industry, subrogation, transportation, or health care.

RSD has personnel that deal only with legal collections.  Their legal department handles thousands of files each year.  They develop professional relationships with the attorneys they use, and sometimes personal relationships as well.  They are active in associations that provide them with continuing education on the ever-changing laws that deal with collections and bankruptcy.  Many of these organizations also afford them the opportunity to network with receiving attorneys.

Why not make use of the advantages afforded by the use of RSD and its network of law firms to collect your legal accounts receivables?

Contact RSD for Help with Legal and Commercial Debt Collection

Whether you need help with legal debt collection or commercial debt collection, RSD is here to help you get the money you’re owed. If you’re ready to start collecting, or even if you just need a few questions answered, call (248) 370-8160 or submit a contact form here.