I need a car to be able to get the kids to school and get a new job. I've just divorced my husband, and while I get some money each week, it's hard to save enough for a car out of that. I need to get a used car and a car loan to get us on our feet and start our new life. I don't really mind what a car looks like as long as it runs well. This blog is about getting loans for getting on with the rest of your life after a divorce and has tips for newly single mums.
As a business person, there are instances when your customers or business partners fail to pay their debts. Most business people will either write off these debts or take legal action against their debtors. Debt collection services that charge low commission rates can help you recover your debts within a short period. The primary benefit of hiring a debt collection agency is that you do not have to incur extra expenses when recovering the debt. The debt collection agency charges a small commission after recovering the debt.
So, how do you choose a low-commission debt collection agency? Read this guide for some expert tips.
Agency Reputation
The debt collection agency will be representing your business. As such, you should only work with reputable companies. Conduct some background research to know how previous and current clients view the debt collection agency.
You should also examine the agency's experience. For instance, how long have they been in operation? What is the agency's success rate? As a rule, the agency must be licenced to provide debt collection services in your state.
Collection Practices
Inquire about the company's debt collection practices. Reputable companies will contact the debtor and inform him or her that you have contracted the collection agency to recover the debt. In most cases, the company will recommend a repayment plan if the debtor does not have instant cash. Alternatively, the agency could help him or her dispose of some assets to recover the debt.
Terms Of Engagement
Examine the company's terms of engagement. For instance:
Pricing
One of your concerns should be the agency's commission.Some companies will have a fixed commission while others will impose extra charges depending on which services you choose to use. Your primary objective is to recover your debt. As such, conduct a cost-benefit analysis to know which company will best suit your interests.
When hiring a debt collection agency, check their reputation, their collection practices, the terms of engagement and the pricing.
Share21 December 2020
