Learn about Debt Collection

Note: This blog is the second 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.

As I mentioned in my previous installment, much about commercial debt collection has changed since Ross, Stuart and Dawson's establishment in 1975. When it comes to contacting debtors on behalf of our clients, one of the major differences is that more and more our point of contact at debtor companies is a Millennial who isn't as likely to respond to a phone call as points of contact were in the past. That means these days we have fewer phone contacts and more emails and texts in order to communicate with them regarding a debt. 

Modern commercial debt collection agency offices have multiple generations under one roof.

Note: This blog is the first 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.

Ross, Stuart and Dawson has been in the commercial debt collection industry for more than 45 years, having started in 1975 when the world was a very different place. In the past 20 years alone, the methods and practices we use to find clients and collect debt have changed dramatically!

Business Debt Collection in Person: The Final Step for a Delinquent Account

Note: this is the fifth and final blog in a series that provides insider tips on commercial and b2b debt collection. Read part 1, How to Collect Debt from a Delinquent Commercial Accounthere; read part 2, Making the Call, here; read part 3, The Broken Promise, here; read part 4, Coping with Angry or Hostile Debtors When Collecting on a Delinquent Account, here.

If all else fails and if it is practical, the final step is to arrange a personal interview with the customer.

Coping with Angry or Hostile Debtors When Collecting on a Delinquent Account

Note: this is the fourth blog in a series that provides insider tips on commercial and b2b debt collection. Read part 1, How to Collect Debt from a Delinquent Commercial Accounthere; read part 2, Making the Call, here; read part 3, The Broken Promise: The Next Step in Collecting on a Delinquent Account, here.

You've taken a firm stance with your debtor about your expectations for payment. What do you do if, instead of cooperating, the debtor takes an aggressive posture, justified or not? As a commercial debt collection agency that has been in business for more than 40 years, we've seen people's emotions run the gamut. The anger could be the by-product of some other recent event and may or may not be a legitimate problem. Railing accusations about poor service, unresponsive sales reps, slow delivery, credits due or harassing collection activity are some of the arguments you may encounter.

The Broken Promise: The Next Step in Collecting on a Delinquent Account

Note: this is the third blog in a series that provides insider tips on commercial and b2b debt collection. Read part 1, How to Collect Debt from a Delinquent Commercial Accounthere; read part 2, Making the Call: The First Step to Collecting on a Delinquent Account, here.

Now that you've had the conversation with your debtor, your work really begins. All debtors break promises, and the way to keep that to a minimum is to have excellent follow-up. FOLLOW-UP is what really separates a professional commercial debt collection agency from a credit grantor. If an individual promises payment to our firm on a Friday, we send reminders a week PRIOR to the due date.