Commercial Collections: When to Cut the Bait and Turn the Customer Over to a Third Party Agency

Often organizations miss out on higher bad debt recoveries. The number one reason this happens is that they hold on to the debt for too long.

If you have been following this adventure you how important payment terms are to the process. It's important in the onboarding process to start with the end in mind: setting yourself up for success by having mutually agreed payment terms, billing cycle, right party contact information, etc. However, even if you have done that all correctly from the start, some customers, unfortunately, aren't able to pay for one reason or another. Here's how to know when to cut bait and give it to the professionals.

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