Collection Agency Services
IRS, or In-House Receivable Services offers collection agency services in Richmond, BC. IRS is a licensed, bonded and insured consumer and commercial debt collection agency. We offer contingency, or no collection-no fee commission rates for collecting secured and unsecured debt in Alberta and British Columbia. You can expect competitive commission rates, fast recovery and superior service with our collection agency.
IRS has been in business for over 20 years,and besides debt collection our agency offers Bailiff, skip tracing and process serving services. Our agency collects small and large balance consumer and commercial debt. We are primarily a commercial collection agency.
Whether you are looking to replace your existing collection agency, or looking for an agency for the first time, you should consider IRS. Our collection agency offers a wide spectrum of debt collection services such as pre-collections, contingency debt collection, accounts receivable outsourcing, credit screening, bad debt recovery and legal collections. Our consumer and commercial collectors are highly skilled professionals with the latest collection agency technology.
Time to Use a Collection Agency?
Debating on whether to list an account with a collection agency? If any of the following warning signs, or excuses, below sound familiar, then it is probably time to use a collection agency:
- You are Being Ignored. When your customer is evading contact and payment, it is usually a sign of an impending bad debt. Being put on permanent ignore is an obvious sign the account should be immediately placed with a collection agency.
- Numerous Credit Inquiries. A barrage of credit checks can be good or bad. Good if they are expanding and bad if they are desperate for credit because of insufficient cash flow. Situations like this should be monitored closely. If the customer is falling behind, then it may be time to list your account with a collection agency.
- Mail is Returned. Returned mail is an indicator that the debtor’s situation has changed. Whether the change is positive or negative should be determined. Returned mail is often a precursor to listing an account for collection
- Excuses. excuses and more excuses. There always seems to be an excuse when your customer misses their payment. Losing a big customer, losing a key employee and having trouble collecting receivables, are some of the more common excuses used by companies stalling for time. Stall tactics like these can indicate your customer is in financial straits and the account should be placed with a collection agency.
- Rumors. Odds are when a debtor is behind on payments, they are also behind with other creditors. Rumors can be totally off base or founded in reality. If it is the latter, you should be listing the account with a collection agency.
Debt is a depreciating Asset
Financing institutions and Banks will finance a percentage of a company’s accounts receivable according to age. With each month that passes the percentages drop. The percentage they will finance on accounts over 6 months old is 50%, or less. Time is the biggest enemy for any debt collection agency.
Tired of not getting paid? Give us a call, or schedule a free consultation with our collection agency.