As an entrepreneur, it’s of utmost importance that your invoices get paid – after all, you can get into serious trouble with your cash flow! That’s why it’s important to stay on top of your invoices and whether they get paid in time. If they aren’t, you need to contact your debtors straight away to make sure you find out what happened. You can also opt for the somewhat more ‘hardcore’ option straight away: speed dialling your contact at the debt collection agency. In this article, we tell you why you need a contact at the debt collection agency you can always reach.
Access to specific databases
When the phone keeps ringing when you try calling your contact or when your emails don’t get answered for days (same with your invoice!), you can be sure something is wrong. In that case, it’s important to contact the owner of a company to get your money back. Unfortunately, it can be very hard and frustrating trying to find out who exactly owns a company. Many companies are ‘shells’ or have an ownership structure that looks like a cobweb. Luckily your debt collection agency has access to all kinds of databases and information a ‘normal person’ can’t access. This way, they can untangle the cobweb and figure out who exactly owns a company.
They can work fast
If you’re looking to get paid, you don’t want to wait it out. Who knows, another person might also be waiting on money from your debtor. And their lawyer or debt collection agency (Dutch: incassobureau) might file for bankruptcy so they’re the first ones to be paid out. Whatever happens, you want to be amongst the first in line to get paid so you need to act fast! If needed, they can even file for bankruptcy so you get paid.
They can help you out in many situations
Many entrepreneurs have invested their money in many different assets. If you for instance also own properties, it’s also a good idea to have a close relationship with your debt collection agency. Unfortunately, not all renters are good renters. If your renters are continuously late with their payments or worse: they don’t pay at all, you have to act fast. It’s ideal if your agency works with lawyers that know how to dissolve a rental agreement (Dutch: ontbinding huurovereenkomst huurcontract). If you have any issues with your renters, you can quickly call them and they can help you out!
If you’ve never had to work with a debt collection agency, then you can consider yourself lucky. But there’s a big chance you’ll need them sooner or later. For that reason, we recommend everyone to ask fellow entrepreneurs if they recommend an agency. You can of course also google debt collection agencies in your area or your country. Anno 2022 most work gets done online, so it’s not particularly important to work with an agency closeby. It’s better to pick an agency with good reviews that’s located a bit further away than the one down the street with bad reviews.