Commercial Collections Blog

Deadbeats and Repeats

Protect Yourself

Debtors_Deabeat_BurtandAssociatesThere is a reason that collection agencies exist. Whether any past due AR has accumulated because business is slow or your customers have just stopped paying you; you should be aware of the troubling signs that someone is possibly conning you. We all know that there are times when people and businesses are struggling to stay afloat, but that does not mean that you shouldn’t be paid or have your products returned. One thing that can be said, people sometimes are lying about paying you; deceiving you into believing that they don’t have the money or that they honestly don’t think you are owed. One of the biggest lies that  heard in the collection industry is “The check is in the mail.”

The truth easily can be manipulated and as a good business owner, you want to maintain good healthy relationships with your clients. Sometimes it is required to have future customers fill out contracts or credit applications before commencing any deals. Not every industry has the necessity for credit applications, however. Credit applications can be your ally in the world of business transactions. Typically if you can have them apply for an account, you should have the tools to look up their personal or business credit history. There are also have ways to see how long a company has been operating or even see if the ‘business’ is not an actual entity. If your current company setup does not have any of these capabilities, this is where hiring a collection agency could be in your best interest. When the debts have become too frequent or too large, finding a company to help you will be your best option for collecting. Collection agencies are the professionals that can help you find the true thorns in the bed of roses; the ones that continue to prick you and cause you to lose slowly over time. These are what the collection industry calls “repeat offenders” or “deadbeats”.

Identifying the Signs and Lies

Repeat offenders are no strangers to any business or industry. They are either notorious at running up credit or running away with free products and services. Some of them don’t even try to hide their trail. There have been instances in which these offenders go from one supply or service, get what they need, and then move onto the competing company and get reloaded with more. Some of the first few actions of a potential deadbeat is the call and email dodging. Even if you are able to get through to a front desk, your main contact is always “in a meeting” or “unavailable”. If you reach out to someone on a Monday about their past due bill and they have not reached out to you by Wednesday or even Friday, you may want to start calling your collections firm. The other way these groups may try dodging your payment inquiries is the telling of a story. When most people are truly behind, a simple and factual story is clear. But whenever someone begins to give you a long detailed spiel, you may be hearing the start of a string of lies. Another way you can be conned without knowing is with the use of familiarity or comradery. The I’s and You’s start to sound like We’s. Instead of owning up to their defaulting payments they try to coerce you into becoming a ‘team’ with them. Somehow you now are both responsible for the accrued debt. You should also be aware of unwarranted false promises. The promises usually follow after the first phone call or email asking about them paying their bill. It starts with “I promise you I will pay you when this next job is finished” or “I promise you the check was sent last week.”

Making the Call

Once you realize that you may not be getting your money back, it is time to evaluate your situation. Start gathering all related PODs, invoices, statements, contracts or credit applications. Any other recording or written communications can be helpful as well. These items along with strategic skills, tools and legal expertise are exactly what can give your collection agency the lead of putting money back into your bank. When they start dodging your calls, contact us at 1-877-740-7839 Burt and Associates or visit us online at www.burtcollect.com. Let us be the experts in finding and defending your business funds and reputation.

Debt Collection News

  • debt collection

    December 15, 2017
    A taxi driver was kidnapped at gunpoint in Banciao District by thugs who tortured him with electric shocks, and punched him up before making off with NT$6,000. The incident happened December 11, but was only reported in Taiwan's Chinese language news media today. At around noon Monday, a 44 ...
  • Thugs Arrested After Kidnapping Taxi Driver in Broad Daylight

    December 15, 2017
    The incident happened December 11, but was only reported in Taiwan's Chinese language news media today. ... Bamboo Union gang member and extortionate debt collector, Mr Huang, after being charged with a range of offences , including deprivation of liberty, injury, and weapons violations, ...
  • Global Debt Collection Software Market Share to 2022 : Quantrax Corp, Comtronic Systems ...

    December 15, 2017
    The report offers a detailed overview of the global Debt Collection Software market covering key factors such as drivers and restraints impacting the growth. The global market for Debt Collection Software is segmented on the basis of manufacturers, product type, Debt Collection Software applications, ...
  • Collectius Acquires a 350 Million USD Non-Performing Loan (NPLs) Portfolio From a Leading ...

    December 15, 2017
    Collectius' goal is to help debtors become debt free and to integrate them back into society more financially knowledgeable than before. Collectius is promoting debt collections that have the highest level of compliance, automation, predictive analytics, big data analytics and customer centric offer ...
  • Collectius Acquires a 350 Million USD Non-Performing Loan (NPLs) Portfolio From a Leading ...

    December 15, 2017
    ... (SEA) debt buying markets by acquiring a non-performing loan (NPL) portfolio from a major bank in the Philippines. The deal consists of 340,000 credit cards and personal loans with a total principal value of 350 million USD. Earlier this year Collectius acquired CJM Solutions, a debt collection agency ...
  • California sues Dept. of Education over student debt relief claims

    December 15, 2017
    The lawsuit also accused the Department of Education of using "draconian debt-collection tactics" against students who are awaiting an answer on their debt-relief claims. "The department has seized these students' tax refunds and garnished their wages in violation of the APA," the lawsuit says.
  • NAFCU Urges CFPB to Reevaluate Debt Collection Rulemakings

    December 15, 2017
    Washington (Dec. 14, 2017) — National Association of Federally-Insured Credit Unions (NAFCU) Regulatory Affairs Counsel Ann Kossachev today in a letter to the Consumer Financial Protection Bureau (CFPB) responded to the bureau's request for feedback on its plan to conduct a web survey on debt ...