Bad Debt
The success of bad debt collections activities has implications for the cost and availability of consumer credit and for the viability of small business in the United States. If debtors can renege on their repayment of money loaned, small businesses will find their own ability to borrow diminished. Small business can't function well with negative cash flow, or cash flow so intermittent, that the business could fail at any point. From experience we know many small businesses do fail for this reason. It was a only short time, but long enough to result in bankruptcy. Therefore the collection of moneys owed is an important activity for small business. Collection agencies play a vital role in ensuring small business can remain vital and meet its own financial commitments. Our customers deserve to by paid by their customers and our customer friendly collections process gets the right results without damaging the business - customer relationship.
The effectiveness of collections activities can't be taken for granted. Smaller businesses often have their requests for repayment ignored. Business owners look to collection agencies to affect repayment of service fees.
Bad debt is a phrase that describes accounts receivable that are long overdue or which may be very difficult to collect. There are collections companies who specialize in collecting bad debt. American Profit Recovery can handle many types of bad debt accounts from veterinarian's bills to fuel oil bills to larger scale commercial debt.
Federal, state and local governments are turning to collection agencies to collect on bad debt. With billions of consumer debt outstanding, the collection agency industry is critical in keeping the economy moving. Some estimates of collections are pegged at more than 50 billion dollars per year.
Today, hospitals, medical clinics, dentists, veterinarians, fuel oil suppliers, private schools, appraisers, finance companies, banks, landscaping firms, lawn care companies, and many other common business types are hiring collection agencies. Increasingly many are interested in collections firms that use a friendlier, diplomatic approach to collections communications. A number of businesses have lost their customers due to aggressive collectors and the trend to consumers seeking bankruptcy may be partially traced to aggressive collections activities. When bankruptcy is declared, the client may not see any return on the debt. Aggressive collections is losing favor in today's collections environment.
If you manage a hospital, medical clinic, dentist, veterinarian, fuel oil supply company, private school, appraisal company, finance company, bank, landscaping or lawn care company, the Tier I debt recovery solution offered by American Profit may be ideal way to collect from your patients and customers. This debt collection service is easy to open and administer. You'll be leveraging the power and effectiveness of third party collections and enjoy a low per account fee. If you have a lot of accounts, that can result in significant savings and better collections amounts. Don't give your outstanding receivables to an aggressive collector along with a commission of 50% when you have this alternative.
We provide debt collection services for companies in New York, Boston, Philadelphia, Chicago, Detroit, Miami, Houston, Dallas, Phoenix, Los Angeles, San Francisco, San Diego, San Jose, Denver, Seattle, Portland, St Louis, Albuquerque, Pittsburgh, Minneapolis, Atlanta, Jacksonville, Charlotte, Columbia, Washington DC and hundreds of US cities in all US states.
Contact us today for more information on how American Profit Recovery, Inc. can help your business better manage your accounts receivables and debt collections
