3 Debt Collection Tips To Avoid Hidden Traps

Avoid nasty debt collection traps. Free video reveals 3 questions that’ll instantly sort most trustworthy debt collection agencies from the rest.

3 Questions You Must Ask A Prospective Debt Collection Agency Before You Sign Anything

If you’re looking for the best debt collection agency to recover your debts quickly, painlessly and affordably and you don’t want to get burned by collection agency shenanigans then this could well be the most important video you watch all year.

You see, as in any industry there are insider secrets to picking a debt collection agency that if you knew about would save you a ton of money as well as recover more of your debts faster… all without exposing you to the usual headaches and frustrations that so often go with debt collection.

Now rather than try ‘n rate every single collection agency out there… and risk being libel for slander … I believe it’s far more empowering to show you how to quickly and easily spot the agency that best meets your specific needs.

To this end I’ve created this video — along with the accompanying Debt Collection Agency Dog and Lemon Guide — to share with you THE 3 most revealing questions you could ever ask a prospective debt collection agency to instantly sort the diamonds from the dust.

Armed with this insider knowledge you’ll cut through all the smoke and mirrors and reveal with frightening accuracy exactly which agencies will burn you and which ones will serve you.

Frankly, not knowing these 3 questions is akin to playing russian roulette with a six-shooter brandishing five bullets.

So in order of increasing importance, here then are the 10 all-revealing questions you must ask when picking a debt collection agency to recover your debts…

Question #1 : “Do you guarantee collection of my debts or do I have to shoulder all the risk?”

Now you’ll hear lots of agencies say no collection = no commission. While this may sound rosy on the surface you need to understand that this is no guarantee of collection. In fact it’s actually an insult.

You see, you’re the one actually risking everything here. They’ll still charge you for pursuing the debt whether or not they collect your debt. So not only do you end up with no money recovered, you also have to pay collection agency fees for their inability to recover that money. And they say it as if they’re doing you a favour! How’s that for adding insult to injury.

So what you really want is a guarantee that the money you invest with the agency actually bears a return in the form of a collected debt.

In a moment I’ll show you how to guarantee that your investment bears fruit in the form of a collection. This little known strategy alone will save untold amounts of grief and frustration. With what I’m about to show you you’ll never have to risk a cent of your money chasing bad debts.

Question #2 “Do you have systems and processes for handling disputed debts or do you throw them back in my lap like a live grenade, even if the dispute is clearly a bogus attempt to get you off their back?”

Make no mistake.. this one’s a biggie.

You see vast majority of debt collection agencies, as soon as a debtor disputes a debt the debt collection agency will stop all recovery attempts and refer that debt straight back to you. And they’ll do this whether the dispute is genuine or fabricated.

Why do they do this? Basically it’s just too messy and time consuming. They just want to recover the debt, collect their commission and move on.

However, with a rapidly escalating number of debtors tuned in to this, if the collection agency you choose is not fully prepared to deal with disputes on your behalf then your chances of having a fair swag of your debts thrown back in your lap is very high.

Take home message - only deal with debt collection agencies that have systems in place to deal with both genuine and bogus disputes. As I say, this is a biggie.

Ok, that’s 2 questions that will save you an enourmous amount of time, money and grief. However there is one question above all others that if you asked no other question would instantly separate the diamonds from the dust when it comes to revealing which collection agency best meets your needs.

So THE most revealing question to ask a prospective debt collection agency is…

Question #3 “Do you charge a commission on collection from day 1 or is their a window of opportunity whereby I can recover my debt without paying a cent of commission?”

Now on the surface charging a commission on collection may not sound so bad. After all debt collection agencies are business to make money and it seems only reasonable that they get paid a commission on the money they collect. They provide a valuable and necessary service and on the surface this seems a fair and accountable way charging for their services.

But if you take a closer look you’ll discover that charging a commission on collection from day 1 slaughters your chances of getting back all the money that’s rightfully yours.

Let me show you why. If you’re going to a debt collection agency with your debts, you will be in one of two camps… you’ll either be personally liable for paying the debt collection fees OR you’ll have the legal right to pass on all collection costs to your debtors.

In the first instance where you lack adequate terms of trade and are liable to pay collection costs, any money that’s collected on your behalf will be significantly whittled by the commission on collection. Now while most agencies will charge you around 20-25% +GST some of the bigger firms may charge up to a preposterous 35% and even 40% +GST! So let’s say for example sake you’ve got an outstanding account of $10,000 and let’s say your collection agency is charging you a 35% plus gst. That ads up to a whopping $3937.50. No matter how you look at it that’s a huge price to pay to get back the money that’s rightfully yours.

Now in the second scenario where you can legally pass on all collection costs to your debtor you might be forgiven for thinking no dramas - I get to keep all money owed to me and the debtor is slapped with the commission.

To demonstrate how harmful this really is on your business let’s again imagine you’ve got a debtor who owes you $10,000 and that again you’re using a firm that charge 35% commission, all of a sudden your debtor is hit up for $13,937.50! Now if they couldn’t afford to pay you $10,000 before, what makes you think they can now miraculously afford $13,500 overnight!

As you can imagine, being stung like this often upsets debtors and upset people do crazy things… like make up bogus lies to dispute the debt and avoid paying it. I see this all the time.

So the net result is that even though it’s your debtor who gets stung with the collection costs, it’s you who ultimately misses out as you fail to recover most of your debts.

It’s for this reason that you should absolutely refuse to deal with any collection agency that charges a commission from day one, especially if they don’t charge a one off fixed fee and even more so if they don’t guarantee collection.

Now if you ring around you’ll find most agencies will laugh at you if you ask them if they don’t charge a commission from day one. It’s just they way things are done and they’ll think you’re stupid for even thinking this.

However, there is a way… a very clever yet closely guarded strategy for getting full debt recovery service - that’s guaranteed to recover your debts and has no hidden costs - without paying a cent of commission.

And I’ve created a video that spills the beans on this strategy for the first time ever.

Now as you can imagine this information is very sensitive and the debt collection agencies don’t want you to find out about this. Which is why I have to regulate who can and can not get to watch this video.

So if you’re a bona-fide business owner and you’d like to possess this knowledge then simply let me know where to send it and I’ll email you a direct link to this video. There’s a box in the top right hand corner of this page. Just fill in your first name and the best email address to reach you on and I’ll send you a link straight away.

As always, I’ll leave it up to you to make the best decision for your business.

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Free Debt Collection Letters

WARNING!

If you’re looking for free debt collection letters to recover your overdue accounts, don’t do anything until you first watch this insider video!

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Free Personalised Debt Analysis

If you’ve currently got one or more overdue accounts choking your cash-flows and you’d love to discover the fastest, most powerful and most affordable strategy to get money that’s rightfully yours back in to your business then here’s all you need to do…

Simply click on the image of a clip board below and a Confidential Debt Analysis Form will appear. Print this off, fill it out and fax it back to me and I’ll get one of regional managers to call you with a personalised a debt recovery plan tailored to your current circumstances.

Now it’s important to understand that our Debt Analysis Consultation is a totally complimentary service and that there is absolutely no obligation for you to do anything with this information.

What’s more, as this is sensitive information it goes without saying — but I’ll say it anyway — we will treat your request form and all subsequent discussions in the absolute strictest confidence!

Once again, the only way you stand to lose is by not taking full advantage of this eye-opening analysis. I’ll leave it to you to make the best decision for your business.

Technorati Tags: debt analysis, Debt Collection, Debt Recovery

Baycorp Debt Collection Appraisal

Avoid hidden debt collection traps. Free video reveals 3 questions that’ll save you untold amounts of money and grief when dealing with Baycorp or any other debt collection agency.

3 Questions You Must Ask Baycorp And Any Other Prospective Debt Collection Agency Before You Sign Anything

If you’re looking for the best debt collection agency to recover your debts quickly, painlessly and affordably and you don’t want to get burned by collection agency shenanigans then this could well be the most important video you watch all year.

You see, as in any industry there are insider secrets to picking a debt collection agency that if you knew about would save you a ton of money as well as recover more of your debts faster… all without exposing you to the usual headaches and frustrations that so often go with debt collection.

Now as you can imagine this information is very sensitive and the debt collection agencies don’t want you to find out about this.

So if you’re a bona-fide business owner and you’d like to possess this knowledge then make sure you watch this video from start to finish right now.

As always, I’ll leave it up to you to make the best decision for your business.