US Collection Agency

Using a US Collection Agency

Many businesses accept payments from clients or customers based on monthly account billing, and while this system can be convenient, it can be problematic if debt is not settled within the agreed upon time frame. A US collection agency which offers an outsourced solution for companies can collect debt via a concerted effort to contact debtors and apply the necessary pressure to lead debtors to settle outstanding account payments and other debts such as bad check payments.

US Collection Agency versus Receivable Factoring

There are two kinds of receivable factoring – credit and debt factoring. In debt factoring, it is possible to sell outstanding payments to a third party, yet this means that the buyer of the debt keeps all of the money owed, even if the debt was purchased for a lower price than that of the owed amount. Debt collection services are different in that money is collected on behalf of the company or individual using debt collection services, and all money is handed over, minus a fixed commission (some agencies use alternative payment systems).