Business

Why Having The Phone Number Of A Good Collection Agency On Hand Is Important As An Entrepreneur

Let’s be real – every entrepreneur loves it to make money. Is there anything sweeter than closing a big deal or sending out a ton of invoices? It’s a high like no other. But sometimes, you’ll notice that invoices aren’t getting paid in time, which really dampens the mood.

You sold a product or a service, so you should be getting paid. After all, you don’t want to have any issues with your own liquidity because your debtors aren’t paying! That’s why it’s important to act fast when you notice one or more of your customers have failed to pay before the due date.

Having The Phone Number Of A Good Collection Agency On Hand

You can of course try reaching your customer(s) first, but it’s a better idea to hand over the case to a debt collector. In this article, we tell you why saving the phone number of a reputable debt collection agency is always a good idea.

Databases to track down the owner of a company

Have you ever had an issue (such as an unpaid invoice) with a customer and realize you don’t really know much about them?

For instance you’ve worked for a company and always contacted the marketing department, but you actually don’t have the number of the CEO or the financial department? This can get tricky when no one answers your mail or even bothers to answer your phone calls.

Luckily for you, collection agencies have ways of tracking down who exactly owns a company, for instance through databases they can use. These databases aren’t accessible to people that aren’t in the field.

Your collection agency (Dutch: incassobureau) will use them to untangle the ownership spiderweb many companies have to send formal letters with a request for payment.

A collection agency knows that time is of the essence

When someone owes you money, you want to be able to act fast. The good, reputable agencies will make sure to make your case a priority. That’s why you need to pick a good collection agency!

We recommend you to check out the Google Reviews of the agencies in your area and check if they mention their success rate on their website. When in doubt, you can ask fellow entrepreneurs in real life or on LinkedIn if they recommend any agencies to you.

A good agency can help with many legal battles

Good collection agencies often have one or more lawyers on staff, ready to take on your legal battles. While a ‘simple’ collection of money can be done by most employees, most agencies also offer other services. Do you own buildings or apartments and are you struggling with bad renters?

Then you can usually ask them to help you with dissolving a rental agreement (Dutch: ontbinding huurovereenkomst huurcontract) and drafting the contracts needed for that.

What are you waiting for? Make sure you find a good collection agency in your area and save their number in your phone – you never know when it’s needed!

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About the author

Vidya Menon

Vidya is an online content developer for Justwebworld. She has a BA in English Language and Literature and an MA in Current Linguistics. She is a passionate reader, writer and researcher with a background in academic writing.