Utilizing Proven Debt Recovery Solutions

by Cheryl Hinkson
(Memphis, TN)

Running a service business is a challenge in this economy. I want to accept all of the possible jobs that come our way but performing a service and not getting paid for it is not a risk that I can afford.

I know that there aren't enough hours in the day to make up for one bad account in our business, so finding the proven debt recovery solutions that work is more important than anything right now.

Being able to market, quote, sell and install is not enough. So I took the time to research what debt recovery solutions were open to me and my business.

I originally started with a great letter system that started with the soft collection approach (hoping that some of our customers had just misplaced our bills) and gradually increase to a formal demand for payment.

This debt recovery solution worked well on some and not at all on others. Which really was kinda scary because the last letter in the series was a demand with a threat attached that I had to follow through on.

That threat made me realize that my specialty is not collections and I would need help to find the right debt recovery solution for us. My high priority project of the year was collections, so, I started interviewing companies that specialize in full service debt recovery solutions.

I skipped right passed all the ones that offered the soft letter service and went straight to the ones that had more than a threat in their service package. I have to tell you the time was well worth the effort and working with a professional debt recovery service is exactly what I needed. I hope to implement a better customer screening process in the future but for now I know I am covered if a bad customer slips through.