Debt Collection Checklist

Use the following checklist to help decide if you are ready to hire a debt collection agency.

[ ] Are your written contacts and phone calls failing to elicit action from your debtors?

[ ] Is your business allocating more resources to debt retrieval than it is managing to recover?

[ ] Are individuals that owe your company money no longer reachable at their former places of residence or business?
 
[ ] Is the alternative of a third company buying your debt (even at a reduced price) a more attractive option for your company than having to pursue debtors independently?

[ ] Are you interested in finding a viable option that allows you to remove debtors from your accounts receivable records?

[ ] Are you willing to pay a fee of ranging from 10%-50% for a collection agency to retrieve bad debt from your debtors?

[ ] Is the retrieval of the money owed to your company by a specific client a greater priority than maintaining that client’s business?

[ ] Is debt affecting your company's ability to be in business.