A good cash flow is one of the most important things for every entrepreneur. A good cash flow will keep your company going, no matter the type of company you have. Is one of your debtors nog paying your invoice in time? Then it’s important to act on it very quickly. A collection agency can help you with this. In this article we will explain the reasons why good contact with your collectors agency is so important.
Debt collection agencies can act fast
Acting fast is very important when it comes to issues with debtors that don’t pay your invoices. Of course it depends on the amount of debt, but debt is debt and you need to draw clear lines for your customers. Whenever a debtor doesn’t pay their bill, you don’t know the reasoning behind it. Maybe their cash flow is bad, but they might also be at the brink of bankruptcy. And in that case, you don’t want to be standing in the back of the line waiting for payment when they go bankrupt!
That’s why it’s important to have a debt collection agency (Dutch: incassobureau) on speed dial that can work fast. If needed, they can start the process of filing for bankruptcy to make sure you get paid.
Debt collection agencies have access to important databases
When you lose contact with the debtors company, you might also realize you have no idea who owns the company. Sure, you might have had contact with the marketing manager, but they’re not the one that has to pay your invoice.
Some companies’ ownership structure is really hard to unravel. It’s almost like it’s clouded in mystery! Luckily for you, your preferred agency has access to all sorts of databases so they can track down the owner of a company.
Debt collection agencies are able to dissolve rental agreements
Even though it’s a little bit like a Hollywood movie, collection agencies will ‘hunt’ the debtors. Of course it’s not a hunt down with chases and gunshots, but there is a search for people that hide from their responsibilities.
But that’s not all they can do. For instance if you’re a landlord and your renters aren’t paying their rent on time, your agency can also help you with the termination of the rental agreement ( Dutch: ontbinding huurovereenkomst) so you can get renters to move in that do pay their rent.
Have you never worked together with a debt collection agency? Then we recommend you ask around – fellow entrepreneurs might have recommendations! We also recommend you to read the reviews of the agencies in your city/area. Because most of this is done online, it’s not needed to work with the agency closest to you, you can also choose an agency with better reviews that’s located further away.
Are you ready to find the perfect debt collection agency? We hope you are. Good luck!
