The Pros to Hiring a Commercial Collection Agency

If you’re the owner of a truly small small business, you might think your business is too small to commercial collection agency. In truth, however, having these agencies to work with is smart no matter the size of your business.

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For very small businesses where the customers are often known by first name, having to collect on delinquent accounts can be awkward and uncomfortable. With an outside collection agency to take care of debts, however, the awkwardness is gone.

Another great benefit of having a third party collection agency is that you don’t have to spend your own precious time and money sending out statements and payment requests and making phone calls. More often than not, this just results in wasted postage and time, time you could be using to build your business!

Collection agencies also have access to sophisticated databases that can provide more information about customers and potential customers than you’d have access to on your own. With the help of a collection agency, you can stop yourself from doing business with those who aren’t likely to pay and track debtors down when their payments stop.

In addition to all of these benefits, collection agencies can take care of other important parts of the debt collections process, including sending that final demand letter to clients who are about to face legal action if they don’t pay up. Most commercial collection agencies are very skilled at making these letters intimidating enough so that clients pay but still keeping their letters well within the guidelines of the law.

In the event that the demand letter doesn’t work, your collection agency can handle the litigation process for you. Having someone else take care of the “last resort” for collecting your funds is invaluable; you won’t have to go through the hassle of hiring a lawyer or actually going to court, and you might still get your money!

As you can see, there are all kinds of benefits to working with a commercial collection agency. No matter the size of your business, hire one today to start experiencing these awesome advantages!

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Debt Collection and Kinum

It’s important for today’s commercial debt recovery specialists to keep their clients “in the green”.  During the collection process, we realized the simplest way to accomplish this is to treat the debtor with respect.  Kinum does not allow intimidating practices. Instead, our focus is to make a connection, listen and create an amicable, realistic resolution.  We learned you don’t look good by making others look bad. 

Debt collection is an art.  It is the culmination of problem solving skills and negotiation. While it’s true that the older the debt, the harder it is to collect.  It’s also true that when a debtor is approached in a professional manner, the chances of resolution are greatly enhanced.  Gone are the days of robo-calls and/or rude collector personnel that begin the process with a negative tone.  At Kinum, we researched our competitors, took their best practices and made them better.  We also learned, in no uncertain terms, what does not work and why our industry has a blemished reputation.   

This is not to say that Kinum is “soft”. Nothing could be further from the truth.  Our collection methods are stern, yet in a in a skillful manner.  Our goal is to collect the debt owed to you, yet also be a relationship manager between your company and your late paying customers. We help businesses achieve debt recovery solutions without creating a professional breach with the parties involved. 

Kinum delivers results. If a debtor is contacted by us, we work with them for you.  Financial obligations will be met, amicably and professionally.  We may not be able to change the industry’s tarnished reputation, however, we will not join in it either.  Trust us with your accounts receivable management, you will be thrilled with the results.

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• Debt collectors phone, email, text and write letters 65 million times a year: ACCC study (smh.com.au)