“Insanity: doing the same thing over and over again and expecting different results.” – Albert Einstein

Whether it was actually Einstein or someone else, it’s true. After a time, you’ve got to change the method or the result will always be the same. This applies to many areas, business included, and within a business, debt collection is one of these areas where it truly applies.

If debt collection was easy, no one would have to worry about it and all money owed would be paid in full on time. However, the real world doesn’t always see this picture, and when money is owed to you, and your client isn’t paying, you may need to seek outside help. Just like the quote above says if you’ve tried something over and over and your results aren’t what you want, change. It may be time to consider a debt collection service.

Stage 1

The first step towards changing your results is working with a credit and collections company. Rocket Receivables will tailor your strategy to your needs exactly, and that is step one of debt recovery. An expert in the industry will apply a proven strategy for each particular situation, and not repeat the same thing over and over without gaining the desired results. 

Rocket Receivables has a trusted method of using your supplied data and a series of professionally crafted communication to secure your funds in Stage 1. The process is straightforward, easy and effective. 

However, not everything works the first time, right? That goes back to the quote once again, and if it’s not working, change the method. Rocket Receivables has an even more effective Stage 2 for debt collection.

Stage 2

When a customer is not paying the funds they owe, and you’ve tried a mild approach to collecting debt with Stage 1, it may be time to turn to a more aggressive, yet still courteous, method. This is where Stage 2 comes in.

Rocket Receivables offers a more hard-hitting approach to collections with a contingency collections method in Stage 2. After 120 days, or when Stage 1 is complete with no results, the team will work on collections through a process using a combination of letters, calls, negotiation, and legal action where appropriate and approved by counsel. This method is more aggressive, and you will pay a contingency fee when the debt is recovered, but again, as the quote says, if something isn’t working, you’ve got to try another route.

Small Business and Debt

According to an article on Newsroom, many companies take their time paying the money they owe to a small business. Though they may very well intend to pay it, they take their time. However, to a small business that needs the cash flow, this can be detrimental. Small businesses can’t wait 90 or 120 days to collect, so turning to a debt collection agency may be the best bet. 

Proactivity is key, and that can mean turning to a two-stage debt collection agency, one with proven results and experts to handle the collection. Rocket Receivables lets you as a business focus on what you do best and let them worry about collecting receivables and debt collection. Buy now to take advantage of our revolutionary two-stage collection process.