Avoiding a Collection Agency Rip-Off
The debt collection industry gets a bad rap. And it’s no wonder! The very nature of collections is adversarial. Money is owed. The debtor can’t or won’t pay. Let’s face it, who ever heard of a tug-of-war over money being surrounded by unicorns and rainbows? Even when both parties remain professional, it’s still adversarial. Period.
But what about those truly slimy characters in the collections industry?
Make no mistake about it: What’s important for those who partner with Collection Agencies to understand is that Debt Collection Agencies that are not licensed pose a risk to you and your company.
If an agency is operating on their own terms and by their own rules, there’s a significant danger that they won’t represent you or your company with professionalism. And that’s just the tip of the ice burg. After all, if they are unwilling to jump through the proper hoops to be licensed, how can you be sure the collectors are operating in compliance with any law?
We’ve said it over and over: Only partner with a Collection Agency that is licensed. Those that are will operate at a higher standard of professionalism. They understand the laws of their state and have agreed to work within those laws. This is to your benefit and worth any extra expense to you.
You can avoid Collection Company rip-offs by partnering wisely. If a Debt Collection Agency isn’t licensed, think twice.