Why Businesses of All Sizes Should Partner with a Debt Collector
Are you a new business owner?
Have you been wondering if a debt collector is necessary for a business of your size?
Late payments or nonpayment affects businesses of all sizes! If you extend credit to your customers, you’ll likely need collection help at some point. Partnering with a debt collector can help businesses large and small get the money they deserve and stay on track.
Debt Collection for Small Businesses
According to LendingTree, nearly 20% of small businesses will fail within the first year. After five years, around 50% of small businesses will close. One of the top reasons small businesses close is poor cash flow. RSD can help by acting against late payments immediately. The longer you wait to collect, the less money you’re expected to receive. A debt collector, especially a Commercial Law League of America (CLLA) certified debt collector like RSD can provide maximum dollar recovery!
Small businesses may also fail due to poor operation decisions. Small mistakes such as not requiring credit applications for customers, not keeping a paper trail on debtors, using unconventional payment terms, or having a less than seamless billing system can cause payment issues. To fully address these issues, you’ll need a robust credit risk management system, which RSD can help you design.
Debt Collection for Large Businesses
If you own a large business, you may not have time to try to collect. You might write-off debt because it’s easier than dealing with elusive debtors and your business can’t afford to wait for payment.
Your stress will melt away when you send a delinquent account to your partnered debt collector, who can promptly and reliably collect on your behalf.
Have international debtors?
RSD can also help with international collection!
Debt Collection Agency Serving Kentwood Area
Businesses of all sizes may try to collect the debt themselves. Leave it to the professionals! A third-party collector can help the debtor understand how serious you are about collecting while upholding your positive relationship with them.
Need help collecting in Michigan? Searching for a collection agency serving Kentwood?
RSD can collect from anywhere in Michigan! Contact RSD for commercial debt collection today!