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Time is Money-the true cost of in-house collections

American Profit Recovery

While in theory, this may have moderate benefits, relying on internal resources for all your collection activity may ultimately be a negative. The obvious is the cost associated with maintaining those resources internally. It means effective and efficient debt collections that will save you enormous amounts of resources.

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8 reasons why businesses rely on debt collection agencies

American Profit Recovery

Collection agencies save a business time and resources Pursuing customers who have not paid can be time-consuming as well as resource-intensive for a business. Businesses, especially small businesses, may not have the staffing or the internal resources to dedicate to collection activity.

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Artificial Intelligence in Collections Industry

Nexa Collect

By using machine learning algorithms, AI can predict the likelihood of a debtor repaying the debt, allowing collection agencies to prioritize their efforts and allocate resources more effectively. Compliance * and Legal Support: Debt collection is subject to various laws and regulations, and AI can assist in ensuring compliance.

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Common questions a business asks before using a collection agency

American Profit Recovery

Will it take too much time and resources to send a customer to collections? A collection agency can save your organization a tremendous amount of resources including staff time and money. Many business owners and others get frustrated by the internal resources they must allocate toward debt collections.

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New website focuses on credit and debt collections for consumers

American Profit Recovery

Our professional debt collectors maintain honest and open communications when they’re doing their job and they provide the resources available to make sound decisions. It’s a valuable resource that not only educates consumers but also promotes financial literacy. The collection industry as a whole is doing its part as well.

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Eight Signs Your Business Should Partner with a Debt Collection Agency

Taurus Collect

Reduced Focus on Core Business Operations – If chasing unpaid invoices is consuming a significant amount of time and resources that could be better spent on your business’s primary activities, it’s time to consider outsourcing this task. Debt collection agencies are skilled in handling these situations professionally.

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Litigation to increase your Claims Recoveries

Debt Recoveries

Legal firms that focus on claims recoveries have the resources and expertise to successfully navigate the legal system. In addition to increasing the likelihood that lost money or assets can be recovered, doing so can assist prevent the costly errors or legal minefields that often happen when trying to settle claims internally.