Construction equipment companies have an ongoing requirement for debt collection from businesses (and sometimes individuals) who do not pay the agreed-upon rental dues on time. Dealers of heavy construction equipment, like Bobcat, Kubota Center, and John Deere, forward accounts to a collection agency after their own reminders and requests to pay have failed.
An experienced collection agency that has extensive experience in commercial collections is a perfect choice. If they have experience in consumer collections and have a nationwide debt collection license, it is an added advantage.
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Collection fees charged by collection agencies are relatively low when compared to consumer collections. Collection rates are also high, in the vicinity of 80%.
If you would like to know the process involved in commercial debt collection: click here. A collection agency will attempt to recover the debt so that your business relationship with your customers is not damaged.