Are you a self-employed person looking for business debt collection services? As a freelancer one has to constantly worry about getting payment at the right time, finding old clients to return back old debts and so much more. I hear you! It is not easy to run a self-employed business these days. Unlike big corporations, managing things on your own and sometimes at the expense of your own finances is not easy. But when you have the chance to hire collection agencies, why not do so? Freelancers have always been skeptical about hiring help when it comes to taking payments from their old clients. They think “Oh let me wait for some more time”. But alas, that time never comes. So many freelancers around the world are struggling to meet their own finances because of this issue and frankly, it is worrisome.
Bad Debts and Freelancing
To make things clearer- for you, let me cite an example. Sarah Williams, a freelance social media content writer, thought that her uncooperative clients would pay her back, some time or the other. Having this unwavering faith in her client, cost her a lot. Most of her other freelancing friends advised her to seek professional help but Sarah was her own enemy. To date, she didn’t see one single penny incoming in her account.
Unfortunately, these horror stories of freelancers losing out on their rightfully earned money are way more than you can imagine. The total amount of unpaid invoices in the United States of America for freelancing professionals is close to $650 billion. Self-made individuals are struggling to come up with good retirement money and healthcare plans because of a lack of funds. If you are facing similar situations, getting a good collection agency as your aid is the best and most efficient solution to your problem.
How to Choose the Best Debt Collectors For Your Freelancing Business?
Do Your Research
While signing any debt recovery services, do your own research. Do not pick agencies randomly off the internet or plain word of the mouth. You need to know how the agency works, the kind of previous clients they have dealt with, whether or not they provide services for your industry and so much more. The best way to do research for picking out your perfect partner is by combining internet research with other freelancers’ reports. If you have friends working in the same field as you, ask them whether they need the help of any trusted agency. If yes, ask for their honest review and then combine your own made research. You will find the best fit for your problem.
Determine Your Budget
Freelancers are usually struggling to pay big bills at the beginning of their professional life. If you are someone who wants to hire business debt recovery services badly but is worried about big quotes, it is best to go forward with the ones that suit your budget. Many freelancers have made the mistake of choosing an agency and later being unable to pay their fees. It is best to look into the cost factor at the beginning of the research stage so that no trouble occurs later. It is already a difficult time for you when your precious and hard-earned money is stuck with past clients. You don’t want any extra financial troubles at this stage. Don’t worry, you will find the greatly affordable, and best collection agency for your business.
Check the Agency’s License
Some freelancers make the mistake of hiring professional help just by looking at the quotes. It is not the right way to go forward with debt collection. No matter which company you choose for your freelancing business, always look into their authenticity. You can directly ask to see their license and other paperwork. Most experienced companies will provide you with all the documents that you need from their end without a single thought. This is because trusted debt services believe that freelancers are already under a lot of stress and they have to handle things on their own. If they take away doubts from your head, you will be able to function better. So, always pick a company that has your business’s goodwill in mind.
Retaining Your Old Clients
As a freelancer, you must depend greatly on clients to come back to you again and again for work. If one of these clients have not made payments within 90 days or more, hiring a commercial collection agency is the best choice. But there’s a catch. While making plans with the company, always ascertain whether they will be successful at keeping your old clients or not. Some companies use aggressive tactics on debtors and it doesn’t end well for your business. So always look for the ones that will bring back your cash flow and keep your past clients happy.
You now know what to do when your clients do not make payments at the right time. Among others, Nelson Cooper & Ortiz is a good pick for freelancers. Whoever you are picking, always remember to keep these four important points in your head for successful debt recovery.