I think I need to hire a Collections agency. I have a customer who owes me over $3000 and I can?t find him. I will get a copy of your book so this doesn?t happen again, but for this customer, I need help from a Collections agency, which I know can be risky and expensive. How do I find a good one?
Michael Greiner?s Advice:
First of all, you should know that debt collectors are ahead of the curve on liability issues; for years they have had to comply with the Fair Debt Collection Practices Act (FDCPA) that create serious liability for Collections firms that violate its strict requirements.
Second, you need to hire a collections firm with a track record. The key to a firm having a good track record and avoiding liability is training. The top Collections firms spend a lot of time and money training their collectors in all the intricacies of the law. Verifying that the Collection agency has a rigorous training regime should be an essential step in your hiring process.