Sending Accounts to a Collection Agency

When sending accounts to a debt collection company, it is a good idea to provide the agency with copies of information obtained during the credit investigation. Good business-to-business collection agencies are able to obtain most of this information on their own, but the investigation will take valuable time away from contacting the debtors to demand payment.

After the collection agency's initial communication, debtors will usually attempt to negotiate with the creditor. If the creditor negotiates with the debtors, any sense of urgency conveyed by the collection agency's collectors is lost. Nine times out of ten, the debtors will break promises made during this communication. In the debtors' minds, they can contact the creditor and circumvent the collection agency's efforts. All future communication with the debtors becomes difficult if not impossible. The collection agency lost credibility because of previous successful attempts to buy time.

To take immediate action against customers that have turned to debtors, contact us.

I would like to take this opportunity to thank you for all your support. You have worked a number of difficult problem loan situations and have always done a great job with your attention to detail and active follow-up. CIT has always been proactive in its collection efforts and recognizes the benefits of having a firm like Aguirre, Aikman + Brown assist with the collection effort.

Vard K. Griffith
Vice President, CIT
Business Credit

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