If you’re looking to recover your overdue accounts finding a reliable, affordable and trustworthy debt collection agency can be daunting. With countless collection agencies of varying ethics and experience out there choosing the wrong agency will cost you hundreds, thousands and quite easily tens of thousands of dollars both in lost collections as well as in predatory collection agency fees and commissions.
Thankfully, there are three powerful debt collection secrets to locating top-notch debt collectors that when put to work will save you mountains of money as well as recover more of your debts faster… while protecting you from the usual headaches commonly associated with debt collection.
Frankly, these 3 insider secrets are so powerful that it would be foolish to choose a prospective debt collector without first asking these three questions…
Insider Question #1: “Is Collection Of My Debts Guaranteed?”
If they tell you “No Collection means No Commission” – watch out! This is just marketing spin designed to deceive you.
Because in reality when you go with these agencies the only person at risk is you! Irrespective of whether or not they recover your debt they’ll still hit you with an upfront fee for pursuing the debt. So not only do you end up empty-handed, you also have to cough-up for their incompetence!
So you end up losing twice while they come out with money in their pockets.
Now while such agencies are hard to find, what you must insist on is a debt collector who guarantees that the money you invest with them will actually bear a return in the form of a collected debt.
Bottom Line: NEVER deal with a collection agency that won’t guarantee collection of your debts!
Insider Question #2: “How Do You Deal With Disputed Debts?”
Make no mistake… this one’s HUGE!
Regretably, more and more debtors falsely dispute their debts in a ruthless attempt to get out of paying their accounts. And what makes this underhanded tactic so powerful is the fact that with rare exception collection agencies will either point-blank refuse to touch a disputed debt OR they’ll charge you exorbitant fees to do so.
Consequently, you’re left to deal with your disputed debts alone.
However, trying to recover a disputed debt alone — even if it’s blatantly bogus — is as financially crippling as it is emotionally infuriating. The legal costs alone can very quickly overshadow the size of the overdue account.
Fortunately, there are a handful of collection agencies that are geared to handle your disputed debts at no additional charge. That’s why it’s imperative that before you sign any agreement with a prospective collection agency you find out whether or not they deal with disputed debts.
Bottom Line: Only deal with debt collection agencies that have systems in place to deal with both genuine and bogus disputes without charging you extra for it. As I said, this one’s a biggie.
Insider Question #3: “Can You Recover My Debts Without Charging Me Or My Debtors A Cent Of Commission On Collection?”
Of the three insider questions to ask, this one is by far the most revealing.
Now while being charged a commission on collection may not sound so bad, the harsh reality is being charged a commission on collection from day one makes your chances of recovering your accounts in full virtually zero.
How come?
Should you lack the right to legally pass on collection costs to your debtors, any money the collection agency recovers on your behalf will be dramatically whittled by their commission fees. From day one, such agencies will pilfer anywhere between 20% to 40% of money that’s rightfully yours. No matter how you slice it that’s a huge portion of your pie to needlessly give away.
Alternatively, where you can legally pass on all collection costs to your debtor you can be forgiven for thinking, “No dramas! It’s my debtor who gets hammered with the commission while I get to keep every cent owed to me.”
However, what usually ends up happening, slapped with penalty fees 20% to 40% more than what they originally owed you these mad debtors throw-out bogus disputes in an effort to avoid paying you a cent.
Net Result: Even though it’s your debtor who gets slapped with the collection costs, it’s you who ultimately misses out as you’re the one who fails to recover a fair swag of your debts.
So in short, you should only ever hand your debts over to a debt collector who guarantees recovery of your accounts~debts within a commission-free window and do so for a low one-time fixed-fee… regardless of whether or not the debt is undisputed.
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