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Nov 23, 2011 Posted on Nov 23, 2011 in Business | 0 comments

Tenant Landlord Disputes: What To do When Your Tenant Does Not Pay

There’s nothing a lot more disconcerting than a tenant landlord dispute. The laws vary considerably from state to state and a landlord practically wants to go to law school to wade through all of the red tape that is necessary to collect from non-paying tenants or, if needed, evict them.

So, this is definitely one of those times when you seriously need a collection agency to correctly handle the situation and bring about a positive outcome for you, the landlord. After all, you worked hard to get to the point where you have income property and you want it to be just that. It’s supposed to be earning income for you, not giving a stranger a free of charge place to live. After all, charity begins at home, your home, not theirs. A reputable Collection Agency will assist you to accomplish that goal.

So, go on-line and find a good Collection Agency to manage the mountains of paperwork and uncomfortable job of dunning your tenants. In most cases in life, we have all discovered that letting an expert manage difficult scenarios is the very best policy. A tenant landlord dispute is undoubtedly one of those situations where you want a professional debt collector intervening on your behalf. They are considerably less expensive than hiring an attorney and bring about a considerably higher return on your money. Depending on which state you are located in, the directory of collection agencies will help you find one nearest you.

One of the best factors to opt for a collection agency, rather than the other alternatives, is that the really good ones don’t charge up-front fees. If one tries to charge you something up-front, run, don’t walk, to the nearest exit. A reputable Collection Agency will generally function on a reasonably low percentage basis and, if they don’t collect, you don’t pay. You can be assured that this guarantees that your collection agency will do their level finest to collect your hard earned funds for you.

When you have enlisted the aid of a bad debt collection agency, you have your tenants’ attention. They now know that you are serious and won’t be pushed around. If you ever saw the movie “Pacific Heights” with Michael Keaton where he completely uses and abuses his landlord, you know how hard a wily tenant can be. When you sign on with your collection agency, you can sit back and relax, realizing that your chosen agency has the situation under control.

Oct 18, 2011 Posted on Oct 18, 2011 in Business | 1 comment

Businesses with Uncollected Debts

As a small business owner, in the business of creating on-line payday loans as well as in-shop payday loans at four shops, I identified the use of a great collection agency to collect our uncollected debts to be a useful asset that, when we had tried, became an arm of our company that we could not live with out. Having tried in-house collections for a number of months to attempt to collect our sizable uncollected debts, we soon determined that we were on the incorrect track and desperately needed a excellent collection agency or two.

Once we submitted a portion of our uncollected debts to a collection agency, we instantly saw the positive aspects in the form of professional advice and superb organization of consumer information via state of the art software program and support personnel.

Following utilizing numerous national collection agencies, I must say that I have found that most, if not all, utilize up to the minute real-time collection software program, thereby increasing exponentially the bottom-line of those firms who have the presence of mind to hire an excellent collection agency when they find themselves inundated with uncollected debts. We located ourselves in just such a position with each our on-line payday loan clients, given that we were writing 2,000 loans per day, as well as with our in-store consumers who, even though smaller in numbers and longer-term clients since some had been with us for 10 years, we all know that even a good consumer can go poor in a poor economy.

In order to collect on accounts receivable, we now only make use of our in-house collection department, for only the payday loans that are less than 30 days past due and then we outsource the rest. The percentage of our total loans that goes out to the collection agency in any given month is at least ninety percent and we are more than happy to do so since their expertise and diligence has greatly increased our profits.

The little percentage of the payday loans that a collection agency charges for its services is instantly offset by the decrease in overhead and the increase in profits that any company with uncollected debts will recognize. At my payday loan business, we have identified that outsourcing our loans is a sound profitable business decision.