What Information Does a Collection Agency Need?

Posted by Marilyn Miller on March 27, 2019  /   Posted in Uncategorized

Once you decide you to hire a collection agency, you certainly want to make sure that you get the very best debt collection results. Make certain you give your agency all the information they need to do the job for you.

 

A complete collection submission should contain the following:

  1. Detailed invoice that shows shows all charges and payments. 
  2. Customer contact information including address, all phone numbers, place of employment and email address. Your collection agency can research some of this information for you, but if you provide it, you are making bad debt recovery more efficient. 
  3. Description of services rendered – Are there particular circumstances surrounding the service? For example, was it a regular plumbing job or was it an emergency call “no heat” at midnight? For medical and dental bills, if insurance paid only part of the bill or nothing at all, why? 
  4. Customer agreement or contract or any information that supports the money owed to you.
  5. Customer disputes or promises to pay – It is important to let your collection agency know if the customer has lodged a dispute or ever promised to pay. If the customer entered into a payment agreement and defaulted, that is important information to share.

Keep the communication going with your agency. If you learn some new information about a customer, pass it along. 

Ask your collection agency for a form or checklist to help guide you. They have a vested interest in the success of your bad debt recovery efforts, so consider them a trusted partner and adviser.

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