Collection Agency for Small Business
Debt Recovery Solutions
If you’re a small business owner and you have issues with a client who fails to pay for the work you did, you have a few options. You can try to handle the situation yourself — the “do it yourself” option — by regularly calling and emailing your client to try to get them to pay the invoice. If that doesn’t work, you can send a demand letter and think about taking your client to Small Claims Court. But if you’re here, you’re probably beyond that point and you’re ready to bring in the professionals — collection agencies or lawyers who specialize in commercial collections.
Collection Companies for Small Business
If you’re not familiar with the debt collection world, finding the right resource can be daunting. It’s very unclear from the research you could do on Google who the good lawyers and collection agencies are. Further, you need to understand which kind of lawyer or collection agency to approach, because they typically specialize in certain kinds of collections. Some only deal with commercial collections, i.e. B2B collections where the debt was incurred for business-related reasons. Others only deal with consumer collections, and they may further specialize in medical debt, student loans, credit card debt, etc. Many will will have high minimums for the debts they’ll take on, and many don’t want to deal with the hassle of signing up a new customer unless the customer will bring them a high volume of repeat business. You’d have to figure out who will accept your case by calling around to multiple collection professionals.
Small Business Debt Collection
Before you start calling though, you’d need to first decide whether to use a collection agency or a lawyer. Both work on contingency (they only get paid when they successfully get you paid), but there are important differences. We go into detail on those differences below, but if you prefer to have the whole collection process managed for you, consider using our service. We analyze your overdue receivables by looking at your contracts, invoices, and any other documentation that might be relevant, and then we give you our honest assessment of the collectibility of your debt. If we’re able, we then consider which type of collection agency or lawyer can serve you best, and we place the account with a firm we’ve vetted to make sure they are reputable, properly licensed, and effective. Once it’s in their hands, we monitor your account’s progress to make sure it’s getting the attention it deserves. If you’d like to take advantage of the service we offer, click the button below.
Collections Management for Freelancers and Small Businesses
You're busy, and dealing with nonpaying clients is stressful. We actively manage your account so it gets the attention it deserves.
No Upfront Fee
We’re 100% contingency-based. We only make money when you do.
Simple Fee Structure
We keep 35% of the recovery for U.S. accounts. You keep the rest.
Enterprise Grade Advocacy
Access top tier collection agencies and law firms that might not otherwise give you the time of day.
Debt Collection Agency for Small Business
There are some debt collection agencies that offer service to small businesses, even though they generally still prefer to work with large ones. If you contact them, they will first decide whether working with you is worth their time. Assuming they take your case, you shouldn’t have to pay anything upfront, and the process generally includes a series of phone calls, emails, and mail to your debtor. Good collection agencies will make every effort to communicate by phone, and they will initially take a collaborative approach with your debtor, presenting the outstanding debt as a problem they want to help your debtor solve. If the debtor is not cooperative, they will take a more aggressive tone and they can report your debtor to the credit bureaus, damaging the debtor’s ability to get loans, credit cards, and do business in the future. Most collection agencies will have you pre-authorize them to offer your debtor settlement options if necessary. They will also Settlement options include payment plans and discounts. Once payment comes in, the collection agency will keep its percentage and send the rest on to you.
Debt Collection Lawyer
While a collection agency’s most severe tool is credit agency reporting, lawyers can sometimes be more effective because they sue your client in court. So with lawyers, there are very concrete repercussions for your client if they decide not to cooperate before the lawsuit is filed. The downside of using a lawyer is that you will be required to front fees for court filing and service of process. That’s not money that goes into the lawyer’s pocket — they still only make money when you do — but it is money that comes out of yours, so before going the legal route, it’s important that you get a good read on how likely you are to have a successful outcome.
Let Us Manage the Debt Collection Process For You
Give us a few details about your debt and we’ll follow up with you to see if your debt meets our collection criteria.