In any business, contractual obligations especially those concerning payment can have disastrous consequences if not met. Commercial debt collection agencies help businesses that have problems with collecting debt get on the right track. Paul Mackenzie for is a leading expert in debt collection and can be a valuable asset to a business that has issues recovering money owed. There are a number of reasons why a debt collection agency is your best bet at recovering debt.

Demands are taken seriously

If you have sent numerous letters to debtors with little or no result, it is time to hire a professional to take on the task. It is easy for clients to simply ignore demands for payment if they feel that there are no serious consequences for their non-payment. Letters from collection agencies tend to be taken more seriously because debtors know that there are real consequences to skipping payment.

Investigative powers

Some clients go as far as changing phone numbers and addresses as a way of avoiding paying debt. The average business does not have the tools, resources or man-power to track defaulters who go missing. Collection agencies specialize in collecting debt and therefore invest in the best resources to track down defaulters. The company may also find the debtors’ hidden assets in extreme cases where the assets need to be seized to compensate the creditor.

Successful litigation

It is sometimes necessary to go to court if all avenues to settle the debt have been explored unsuccessfully. This can be stressful for a creditor especially if they have no prior experience with filing legal claims. The extensive Paul Mackenzie portfolio includes numerous successful litigations against debtors on behalf of creditors. The agency therefore is able to use all the resources available to achieve a favorable outcome for the client.

Successful collection on a judgment

If the collection process escalates into a court case and the result is in favor of the creditor, it can still be difficult to implement the judgment. A collection agency has the necessary expertise and resources to enforce a collection on the judgment. This may include securing liens on the debtor’s property, seizing assets and garnishing the business. This can be overwhelming for a creditor which is why the collection agency takes responsibility for enforcing court judgments as stipulated in the law.

Paul Mackenzie of PHM Consultancy
07496191101