You have a growing small business, are “doing everything right”. You use customer contracts and have a good plan to recover bad debt in-house. When do you need to hire a collection agency?

Here are 6 signs it is time to get some outside help:

1. You have a growing number of receivables over 90 days past due.
2. You are spending too much time chasing non-paying customers and you do not have enough time for sales and customer service.
3. You are having trouble paying your creditors because you are owed so much money.
4. Customers you have been billing move and you have no way to find a new address or contact information for them.
5. You have been going to small claims court and getting judgments, but are still not getting paid. 
6. Your accountant tells you that you cannot get a tax benefit from writing off your bad debt.

Hiring a collection agency can save you time and put cash back into your business. Debt collection agencies have resources to research and find people and their assets. 

Ready to hire a collection agency but not sure how to begin? Download our free guide today!