How do debt collections work?
If a buyer is late in paying his bill, an established collection procedure is called for. Most companies have internal guidelines on how to deal with late payers. However, sometimes these efforts do not have the desired effect. In these instances it can be helpful to employ a professional collection agent. Recovery approaches include telephone calls, written demands, and visits to the buyer’s premises. Most Receivables Insurance companies either offer debt collection services, or have partnered with specialized collections firms.