Learn about Debt Collection
When should I place a delinquent commercial account for collection?
We've given our professional advice about the best ways to collect delinquent accounts. But there are some debts that are better left to a commercial debt collection agency like ours. How can you tell when it's time to give us a call?
Last week we talked about how important it is to keep a calm, kind approach when collecting debt. That's not always easy to do.
At Ross, Stuart & Dawson, we conduct ourselves by a set of proven standards that have helped us not only maintain a successful record of commercial debt collection, but also have kept our valued clients coming back to us. Not only do we adhere to all federal and state laws that apply to our business, we also have internal rules that guide how we treat the people we work with.
Note: This blog is the last in a three-part series about the changes we have seen take place over the years in selling our services and in carrying them out. Read part 1, How has landing a commercial debt collection client changed since our business started?, here; and part 2, Contacting debtors: changes for us as a commercial debt collection agency, here.
One of the ways in which our industry has changed over the years is the increase in the number of consumer protection laws on both the federal and state level – which one wouldn’t think would apply to us as a commercial debt collection agency, but which we must conform to anyway since the regulations don’t distinguish between a consumer debt and a commercial debt. A consumer debt is defined as a debt incurred for personal, family or household purposes. Blanket laws that attempt to regulate ALL types of debt are causing problems to the very people they are designed to protect. All the same, we are careful to follow all laws and regulations that apply to our business in order to keep ourselves and our customers operating within the rules.