Security Financial Solutions, LLC
Businesses having difficulty collecting payment from late-paying or nonpaying business clients should consider hiring a Business to Business debt recovery agency to handle their past due accounts. An exurbanite amount of time can be spent trying to recover bad debt accounts. Many businesses do not have the resources or the time to follow up with the debtor to collect payment. Security Financial Solutions, LLC is a business to business debt recovery agency that can help businesses recover the funds that are ethically and legally owed to them. Staffed with trained and experienced debt collectors, SFS can successfully recover a business’s past due accounts while the business focuses on what they do best, running their company. When a business provides a client with a product or service they deserve to be paid for it. SFS will do everything they can to ensure their clients get paid and help reduce the number of accounts outstanding.
The Do’s and Don’ts in Business to Business Debt Collection and Debt Collection Practices
Many companies try to handle collecting accounts themselves. They do not know there are many Do’s and Don’ts in business to business debt recovery. Below are a few of them:
- Don’t repeatedly call during a relatively short period of time to the debtor and harass the customer into making payments. Don’t contact your consumer before 8am and after 9 pm or on Sundays.
- Don’t leave your message whether through phone or any other means with neighbor companies in an effort to contact a debtor.
- Do not call without announcing or disclosing your identity.
- Don’t use obscene, profane, or violent language.
- Don’t threaten to use any violent or other criminal means to collect your money. This prevention includes any implied threat of aggression.
- Don’t try to communicate with consumers at their place of employment.
- Don’t misrepresent the character, amount or legal status of a debt. Never make any false, deceptive, or misleading representations linked with the collection of any outstanding debt.
- Don’t use racial or sexual epithets or religious slurs.
- Do not claim a sum more than actually you owe, or falsely present that an invoice or a debt has matured or that is immediately due and payable if and when it is not.
- Do not publish the consumer’s name or address on a “bad debt” list.
- Do not threaten any arrest warrant or legal action that is neither permitted nor contemplated.
- Never declare or imply to the debtor that non-payment will result in their arrest or imprisonment.
- Do not reveal or discuss the nature of debts with third parties or threaten to take any action to collect an outstanding debt.
- Cannot seek unjustified amounts under an applicable contract or law if either (a) the charge is expressly offered for in the contract creating the debt and the charge is not prohibited by state law or (b) the contract is silent but the charge is otherwise specifically permitted by state law.
- Do not communicate by a system or envelope that misrepresents the nature, reason or urgency of the message.
- Don’t deposit a post-dated check previously stating the negotiation date.
- Do not report false information on the debtor’s credit report or threaten to do so in the process of collection.
- Cannot claim that you are an attorney or a law enforcement officer or an investigator.
- Do not refuse to update your credit report with a “dispute” status after being notified that the debt is “disputed”.
- Do not attempt to collect the debt after prior knowledge the debt is “disputed” or having received a “cease and desist” letter.
- Never send written communications that dishonestly resemble legal process forms.
In most cases it is best to hiring a business to business debt recovery agency like Security Financial Solutions, LLC, to assist in your collection needs. Our expertise is invaluable in not only negotiating with debtors, but legally as well.
Contact Security Financial Solutions, LLC today to find out why we’re considered by many the premier business to business debt recovery agency in the nation!