|The Small Business Library|
March 3, 2000
Overdue Accounts? Consider a Collection Agency
If you're running a business, this situation is only too familiar. When phoning and letter writing prove ineffective, you are faced with two choices: Either write the debt off and forget about it, or look for more serious methods of collecting. Your choice will depend on the circumstances. If the amount and the situation warrants it, you might want to consider using a collection agency.
It's true that collection agencies can't do anything that you can't do yourself, but they are experienced in collections, familiar with the consumer laws involved, and quite possibly prepared to be more forceful than you would be yourself.
If you decide to try a collection agency, consider the following when making your selection:
Finally, remember that laws governing collections and collection agencies differ from country to country and from region to region. The information in this article may not apply in every location.
June Campbell is a professional writer whose work has appeared in several international print and online publications. As the owner of her own business, Nightcats Multimedia Productions, she provides business writing services and online sales of business templates and guides from her web site. Her web site offers a number of resources to small businesses - including guides for proposal writing, business plan development and more. Visit June's Website to Claim Your FREE GIFT!