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Important Reasons Why A Business Should Use National Collection Agencies

Todays Date: December 15, 2018

When shopping for a collection agency you may not have stopped to consider the benefits of national collection agencies versus smaller local collection agencies. National collection agencies have a lot of reasons to recommend them. Following is a discussion of their benefits.

The first reason a national collection agency will trump a small local agency is their greater number of resources. Any business which has enough funds to operate offices in each state is going to be better equipped to collect on your debts. An example of this is the fact that over 50% of US states require that anyone doing collections have a license. The licensing procedure takes time and costs money.

If you’re using a local agency to call people in other states, they may not be aware of licensing requirements. National collection agencies will keep abreast of each state’s requirements and conform to them so you are in compliance with local laws at all times.

National collection agencies have well-trained staffs and make the commitment to continue this training even for their most experienced employees as collection techniques evolve. The debt management industry is very different today than it was even three years ago, and it’s crucial that you hire a firm that continually improves its practices if you want your collections to be successful.

Because they are more prestigious, national agencies get the cream of the crop when it comes to collection employees. They are also more likely to impress debtors into paying something. They will realize you mean business when you have a national debt collection firm representing you.

Since they attract the best people, national agencies are more likely to have specialized staff for unique industries. If you require medical collections, for example, you don’t want someone who’s mostly done collections on credit cards handling the files for you. If your collection needs are specialized, a nationwide firm is more likely to be able to fit them.

National agencies have an advantage when it comes to time as well. They have larger staffs so they keep longer business hours, and with offices in each state, you don’t have to worry about time zones. If you need to collect on accounts on the West Coast and your collection agency is on the East Coast, you’ll be missing out on some prime opportunities to reach the client due to time zone issues.

Finally, national collection agencies use advanced computer utilities that facilitate communication and allow you to check up on their activities. With most of them, you can monitor your account online in real time whenever you want. This is far preferable to the monthly reports that smaller agencies tend to send out. You want to check up on the rate of return, how quickly they’re getting your money back, and other details, and the best way to do that is by having access to your own files. Most smaller agencies just can’t offer this, so if keeping informed is important to you, you’d best consider national collection agencies.

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