Debt Collection Solutions
Collection Agency >> Debt Collection Solutions
Nearly every company, no matter how small or large will ultimately be faced with the problem of uncollected debts. This may begin small, with a few unpaid invoices here and there, but as your company grows over time the total account receivables could become a considerable amount. Ignored, this becomes a loss that can impact the bottom financial line of the company. Keeping up with accounts receivables ensures the firm runs smoothly and all services are paid.
Standard debt collection agencies function on a commission basis. This means, for each debt they collect, they take a percentage for their commission. The commission can be up to 50%. Given that the debt collection agencies works on commission, they naturally work harder to collect the larger debts since it increases their pay, and the smaller debts are typically left stagnating. Debt collection becomes the lesser of two evils, writing off the entire debt as a loss, or collecting only a portion and claiming the rest as a loss.
Invoice Guard is a different type of debt collection agency. They work at a low, flat rate fee of $100 per month. Up to four accounts can be submitted per month. Given that the service is flat rate, all accounts are worked, no matter how small or large. Organizations can now really feel comfortable submitting their debts to collections in a timely manner since they do not have to pay such a steep percentage of money received. This helps make certain the debts are in fact collected, as the sooner the debtor is contacted, the greater the opportunity of payment. If your enterprise needs more accounts collected than four per month, there is a low flat rate charge of $15 per additional account. Invoice Guard will request the debtors to make the check directly to the enterprise for the quickest resolution of the debt.
One more advantage of using Invoice Guard is that debtors who are slow to pay their invoices typically will pay upon the initial contact by a third-party debt collection agency such as Invoice Guard. Since Invoice Guard is contracted on a monthly basis, it is straightforward to submit invoices before they get too old to collect. There is no downside to submitting unpaid invoices to Invoice Guard. The rate of recovery of a debt considerably drops off soon after 90 days, so it is best to send invoices before they age 90 days. Invoice Guard supplies a straightforward online interface to submit orders for collections and check the status of debts in collections.
Invoice Guard can simplify almost any companies collection activities, regardless of whether a small company or a larger enterprise. Any business has the right to be compensated for services supplied. Invoice Guard gives an innovative answer to the growing account receivables dilemma that plagues so many companies.
We recommend letting a professional National Collection Agency handle your outstanding debts for the most effective and efficient no-upfront cost way to collect on monies owed to you.