Running a successful business needs careful planning and execution. Some business run on a regular payment basis and some business run with clients debts with reliability. There are many debt collecting services existing in the market which does this job. They achieve good results and aid the business to run successfully. They work at an affordable costs depending on the kind of job they are asked to perform. Your business be its big or small, if it faces any issues in debt collection, then you can immediately contact a Business Debt Collection agency to collect the debt from your clients/debtors. Depending on the type of debt, the agency can ask you for personal credit reports as well. Here are some of the steps on how you can get the help from the business debt collecting agency to collect the debts.
- Approach the Agency
Contact a debt collecting agency of DCA. Get in touch with the debt collection agency representative. The agency will ask your for the credit reports and other documentations initially to know where your debts and debtors stand. They get all information like debtors name, current due balance, interest rates, due date and address details.
- Do a Research on the Agency
Review, research and confirm if the debt collecting agency suits and belongs to your business. There are various types of DCA existing for debt collections at various types of firms. Check their past business records and how they work. Submit the required proof of evidence for debts if required by the agency. Once the debt is recovered, get a copy of the debt collected certificate from the agency.
- Dispute the Debt
Check for all means if you need to dispute the debt. Give the agency details on the debts, proofs and documents. Send them a certified mail and a written letter or receipt. The dispute procedures has to be followed.
- Debt Payment
Negotiate with the agency to collect the lower amount first. Get a copy of the due debt agreement. If you are a debtor ask the agency if you can make the full payment in one go and get the debt closure agreement from the DCA. Get a closed account payoff once it is done.
If you are into bankruptcy, get the case number, bankruptcy information, filing date and discharge date.