Media and Advertising Debt Collection
In-House Receivable Services, or IRS, provides cost effective media and advertising debt collection services in Alberta and BC. Our agency has been collecting media and advertising debt for over 20 years. If you are advertising agency, or media company looking for affordable, fast collection returns and personalized service, then you should definitely consider our collection agency.
The vast majority of media and advertising receivable collections are unsecured commercial debt. The primary reason media debtors default and require collection action is the Gratuity Scale for Debt Collection. Like law firms, the motivation to pay deteriorates as time passes by and the same collection patterns occur in advertising and media. However, in media and advertising, most debt is owed by limited companies so the time frame is shorter for an account to be listed for collection.
Another risk for media and advertising is that many of the limited companies are new businesses. According to Canadian government stats, 23% of new small businesses (1–4 employees) fail and 14% of medium sized businesses (20–99 employees) fail within the first three years of operation.Time is of the essence when it comes to media and advertising debt collection.
Debt Collection Stall Tactics in Media - Advertising
In Alberta and BC there is a two year statute on pursuing a debt through the courts. Legal action must be commenced within 2 years from date of last payment, date of invoice if no payment was ever made, or acknowledgement of debt. Many debtor companies are well aware of this loophole and will try to stall out paying their debt so they are immune to being sued. Advertising and media debt does not age well, which is why it pays to list accounts sooner for collection.
Our commercial collectors have decades of experience recovering debt. Our senior management has over 130 years of experience in media and advertising debt collection. We are very familiar with the most common excuse in media related debt collection: I didn’t get the results I wanted, or was promised. In many instances their campaign failed because they refused to take professional advice and insisted on doing it their way. Either way, the ad and-or promotions ran and you are entitled to payment.
Of course there are other stall tactics that are used, as many debtor companies do not see media and advertising debt like they would a physical equipment invoice. When this pattern sets in your odds of collection are at the bottom of their priority pile. The best way to stop this pattern is to list the account for immediate collection.
Debt Collection Services with IRS
IRS offers a broad range of commercial credit related services in addition to contingency (No collection – No Fee) debt collection. Here are just some of the related collection services offered by our commercial collection agency:
- Credit Screening (Consumer and Commercial)
- Commercial Asset Investigations
- Pre-collection outsourcing
- Collection Outsourcing
- Collection Training
- Process Serving
- Skip Tracing
- Bulk Skip Tracing
- Accounts Receivable Outsourcing
- Accounts Receivable Management
- Credit and Collections Training
- Credit and Collections Risk Management
- Numerous Law Firm Services
- ETC.
