DO I QUALIFY
Loans &
Financing
Learn more
Why Reliant
Funding
See the Difference
Industries
Served
Learn more
Activate
Your Card
Verify Account
Reviews What Others Say
Newsroom View
Blog Visit
Business Network Learn More
Partner with us Learn more
Partner Channels Explore Opportunities
Partner Portal Login
Get to know
Reliant Funding
About Us
Join
The Team
Careers
Connect Contact Us

Collection Agency – Know When To Use One – Part 3

This is the third part in a 5 part blog post series about dealing with late or non-paying customers.

Still having trouble collecting a payment? It’s probably time to hire a professional collection agency. But, before you do, be sure to confer with your financial adviser or accountant, and contact the Better Business Bureau to be sure there are no complaints against the one you select.

Remember, a collection agency will be representing your business, and unprofessional tactics can impact your reputation. You can also get yourself into legal hot water by making threats, using harassing or abusive language, making collection calls at odd hours or too often, or by making false statements about what will happen if the debtor doesn’t pay.

It also makes sense to familiarize yourself with the Federal Trade Commission’s “Fair Debt Collection Practices Act.”

If a collection agency doesn’t work:

Have your attorney send a formal letter stating that if you’re not paid in full within a certain time frame, you’ll be forced to take the client to small claims court or arbitration. The normal claim limit here is between $2,000 and $7,500, depending on the state in which you do business. If you threaten legal action, the client will usually pay up. But if he or she doesn’t, you may have to follow through with your threat. Before you do, consider the amount you’re owed, how much time it will require to get it, and whether you want to work with this client in the future.

If a client owes significantly more than the small claims process allows, you may want to sue in a formal state trial court. Debt collection cases are usually simple because few actually make it to trial. Most defendants either settle beforehand or fail to show up in court, in which case you receive a default judgment.

For more information: Fair Debt Collection Practices Act

(Visited 1 times, 1 visits today)
By clicking "Submit", you (a) consent to receiving calls and messages, including autodialed or pre-recorded calls, from Reliant Funding using the information you provided above, including via wireless telephone numbers that could result in charges to you, (b) acknowledge that no purchase of goods or services is contingent upon such consent, (c) acknowledge that telephone calls to and from Reliant Funding may be recorded, (d) consent to receive email correspondence including advertisements for business funding and other products or services, and (e) acknowledge that you have read Reliant Funding’s Privacy Policy and understand that you may opt-out of receiving communications of your choice from Reliant Funding as provided in the Privacy Policy.

Quickly learn your
funding options.

No cost to apply. No obligation to accept.

Congratulations!

Your Reliant Funding application has been received.

You will be receiving a call shortly and we look forward to learning more about your business and funding needs.

By clicking the "Submit" button I agree to all terms and conditions.
GET QUOTE NOW
Trustpilot
We respect your privacy and will never sell or share your personal information.

Before you leave...

Please tell us about yourself.

Congratulations!

Your Reliant Funding application has been received.

You will be receiving a call shortly and we look forward to learning more about your business and funding needs.

'Fast. Simple. Flexible. Request A Quote Today!'

'Congratulations, Your Application is Now 50% Complete!'

'Let us know who to contact once the funding details are available and we’ll be in touch immediately.'

APPLY NOW
GET STARTED TODAY!
Trustpilot
[cms-block title="CTA Popup - disclaimer (english)"]
previous | refresh
1