Businesses, of course, need revenue to survive and continue to stay open. A company may be willing to let small debts go, but a company is not as inclined to let large debts go as easily. A business tends to have a certain threshold as to how long it will wait for payment. If a customer exceeds this limit, many companies will use a debt collection agency.
Debt collection agencies may not be popular and many people refuse to deal with them altogether. Although they are not popular, they remain in existence because they are extremely effective at debt recovery. Without this service, many business would lose out on such significant amount of revenue that they may not be able to maintain an operational status and subsequently are forced to shut their doors.
There is a limit to how long a debt can be collected. In some states, such as Pennsylvania, this limit as low as four yeas. If the money owed to the business exceeds the statute of limitations, the debt collection agency and the company to which the debt is owed must give up on the debt.
The debt collection agencies will follow the Fair Debt Collection Practices Act to the letter. This set of rules and regulations follows the ethical guidelines which the debt recovery agency must adhere to. It is essentially always easier, more cost effective and certainly more efficient to employ the services of a professional debt collection agency like HF Holdings, Inc. As a business owner, you should not have to concern yourself with debt recovery, let us handle that task for you. This way, you may focus all of your efforts on continuing to make your business succeed!
To get started today, call our toll free 1-877-680-6064 to speak with an associate or fill out the form above and we will contact you within 24 hours.