Creditors’ Rights 25
Q: Our company was unsuccessful in attempts to recover a debt from a customer, even after a strongly worded letter*. Would it make sense for us to go to an outside recovery source?
You can use an outside recovery source to provide a fresh voice, desirable incentives, new methods and a commitment to collect. The best recovery professionals treat the debtor with respect and fairness while staying motivated to recover the money.
Your first contact might be with a local creditors’ rights attorney. Collection agencies are useful, too. The differences are subtle, but significant. Creditors’ Right attorneys are trained and experienced in the nuances of collection, as are agencies. If you think a lawsuit might be required, only an attorney can sue on your behalf.
*Learn more about credit policies and the Payment Gap with Bob Bernstein’s new book, Get P.A.I.D.TM A Guide to Getting Paid Faster (and What to Do if You Don’t!) at www.getpaidsystem.com