Obviously I feel strongly that an independent debt collection agency, such as SJ Collections, makes a valuable contribution to the collections sector — I wouldn’t be running this business if I weren’t convinced of that. On the other hand, I don’t consider I’m automatically the answer to everyone’s prayer. So what is important about an agency?
Clients Who Don’t Need an Agency
Some companies find it more convenient to keep their collections process in-house, which is fine as long as they have the infrastructure to deal with it in an efficient and timely manner. This may include large, well-established companies, such as banks, who can set up a dedicated collections department staffed by specialists.
On the other hand, some smaller organisations may feel it’s vital to deal directly with customers they have a close relationship with and understand well. A new company may also feel the direct approach is important in order to learn and develop strategies.
Clients Who Do Need an Agency
However, for every large organisation there are many small-to-medium businesses that can’t afford the kind of expertise needed for a firm but equitable collection service. In the same way, for every company that prefers to be at the cutting edge of collection, there are many who’d prefer to spend their time and expertise on what they do best — creating and selling their goods or services.
What an agency such as SJ Collections can offer, beyond taking a time-consuming job off your hands, is the skill to focus not just on getting the debt back (important though that is) but on helping creditor and debtor come to a better long-term solution. Ultimately, what everyone wants is an arrangement where money due can be paid smoothly without high drama every time. I have both the expertise and the detachment to help facilitate that in many cases.
Vulnerable Debtor — Or Not?
A particular example of where care is needed is with vulnerable debtors, where issues such as mental health affect their ability to manage money. It’s worth remembering that, even if you weren’t inclined to be sympathetic, the courts would. It’s important to give vulnerable debtors every help and opportunity to sort out their payments.
Unfortunately, there’s also no shortage of debtors willing to abuse the vulnerability claim, making things harder both for the creditor and for the genuinely vulnerable. My long experience makes it easier for me to sort out the genuine from the fake.
If you feel an external collection agency would benefit you, get in touch with SJ Collections to discuss your needs.