What does a Debt Collection Agency Do
If you were asked the question what does a debt collection agency do, what would your answer be? Many think of a collection agency as the bad guy. They buy your debt and you get pennies on the dollar for it.
That is not at all what a Reputable Debt Collection agency does. They serve business owners in retrieving as much as possible toward their unpaid debts.
Another BIG misconception we found is people think Collection Agencies are connected to a financial agency like a bank. This is not typical at all. Can banks have their own collection debt? Absolutely! That is not your A-Typical situation.
You may have heard the term Debt buyers that is NOT a Collection Agency. These are financial firms that buy up debt and that is pennies on the dollar.
Collection Agencies have two types of payment plans.
One you pay a certain amount no matter how much they collect for you and the other is basis on using on a contingency. In other words, you don’t pay unless they collect.
A collection agency works directly with their clients and the sooner they have the opportunity to work with them, the better the chances of collection. This is the fastest way to generate cash flow and many times this is all that keeps a company afloat.
A reputable collection agency also treats its clients and the debtors with complete respect. They also try to keep a good working relationship between the two after the unpaid debt has been paid. You also want to work with a company where you get to speak to a real person who can go over your specifics and keep you abreast of what is happening with your collections. Last but not least make sure they have a GREAT BBB rating and success rate.
MCA is a third party debt collection agency that has been in constant business since 1950. We are rated A+ with the Better Business Bureau and we pride ourselves in excellent customer service along with delivering great recovery rates. There is no cost to you unless we collect! Why not try and re coop some of your past due accounts with no out of pocket expense?