Selection of a Debt Collection Agency in Michigan

 There are many choices when searching for debt collection agency services in Michigan. With so many options, how does one pick the right vendor for you and your business? Before this article considers the various points when searching for a suitable debt collection agency in Michigan, we should clarify that we are referencing business-to-business or b2b credit transactions only. Your business is owed money to another company, and you recognize that the vendor you select must be an expert in this field.

Firms that provide commercial debt collection agency services in Michigan are not required to be licensed. Still, we suggest otherwise. State law requires a licensed agency to maintain a separate clients trust account for clients’ money. The manager must pass a state-mandated examination to qualify for the license. In this article, we stress the word “should” because all the attributes mentioned above are surprisingly not necessary when providing commercial debt collection agency services in Michigan. While not required when running a commercial agency, would you not take more comfort knowing your vendor had the added protections of a licensed agency?

A commercial agreement often contains language that makes the business principal (owner) liable. Clauses that contain personal guarantees, create a joint and several liabilities, or a co-customer agreement, are very common. If the corporate customer (your client) goes out of business, the commercial collection agency service can pursue the business owner for the company’s debt. While there has always been a clear distinction between consumer and commercial transactions, those lines are becoming increasingly blurred through the efforts of the Consumer Financial Protection Bureau (CFPB). Hiring a licensed commercial collection agency services provider in Michigan will ensure you have one more layer of protection against risk to your business.

Additionally, the commercial collection service provider you choose should have access to Michigan’s Secretary of State’s website and be able to search property deeds in all counties across the state. Access to public and paid databases lets your vendor quickly assess your debt recovery potential.

While you may have a favorite commercial collection agency outside of Michigan, a resident Michigan agency will have established relationships with local credit managers, industry groups, and business connections that enable them to investigate your past-due customer and get quick resolution of your receivable. This depth of knowledge of your customer and local market conditions can often help you avoid an unnecessary lawsuit that out-of-state commercial collection agency service providers frequently recommend.

Finally, once you have narrowed down your choices of Michigan-based commercial collection agencies, we recommend selecting the agency that employs collection agents with the Certified Commercial Collector designation awarded by the International Association of Commercial Collectors, an industry-recognized certification program. These professional negotiators maintain standard educational requirements and are considered the elite of their profession.

What Does a Trusted Collection Agency Service in Michigan Look Like?

We can't speak for our industry colleagues, but here is what AAB promises to do (or not do) as your collection agency service provider in Michigan. We will not use outrageous hyperbole to impress you. We won't guarantee your account will get paid. We will not hold onto your money for longer than legally mandated, and we refuse to accept debts from creditors who want to make their customers’ lives miserable.

Getting started with a collection agency service in Michigan should be simple. The agency representative should thoroughly discuss your company, your industry, and the common reasons why your customers can't pay. The agency should ask for a copy of the standard agreement between you and your client so they can educate themselves about the terms and conditions governing the relationship and transaction with your customers. The agency will want to satisfy themselves that the debts are valid. And finally, the agency shouldn't pressure you to use them, especially if they don't have expertise in your industry.

 

Collection Agency Services in Michigan for You

For the last 50 years, AAB has been helping creditors and debtors to resolve their outstanding accounts amicably. If your business needs collection agency services in Michigan, contact us today for a confidential conversation about your specific situation. We will either be able to assist you or make an introduction to one of our strategic partners.

 

If you want to discuss your specific situation or are contemplating making a switch between vendors, call us at 1-866-448-3936 or send an e-mail to info@accountadjustment.us. Should you prefer face-to-face, CLICK HERE to schedule a video meeting. We would be pleased to review your concerns and give you unbiased feedback.

Common Questions When Selecting a Collection Agency Service

Does the Agency Understand My Market?
It's OK if the collection agency service doesn't have extensive experience in your industry. If they don't, they should demonstrate a willingness to learn and articulate their understanding back to you, in their own words, so you know they get it.
 
Will the Collection Agency Service Give Me a Bad Reputation?
Top collection agency service personnel should be professional and not use ANY language that would make you wonder how they will represent your firm. If it seems like they might enjoy giving your customers a hard time about payment, steer clear! There are numerous ways a collection agency service can prompt payment without resorting to questionable tactics.
 
Outlandish Claims of Performance
Beware of providers that make claims like they're the top performing agency. As compared to who? Or “We are the #1 agency in Michigan.” Was there some state-wide contest you missed? In the world of collection agency service providers, our performance depends entirely on your customer's credit quality and their financial capacity when you decide to engage our services.
 
Besides No Recovery-No Fee Pricing, What Are Other Important Considerations?
While pricing is always an essential factor, collection agency providers in Michigan should be capable of reporting your delinquent accounts to the credit bureaus. Did you know collection attorneys can't do this? The knowledge of a potentially poor credit score is often enough to prompt payment. Other considerations should include the appointment of your own service specialist so you can discuss your files with a live body and secure data access to monitor the collection agency services’ progress.
 
Collection Agency Services in Michigan for You
For the last 50 years, AAB has been helping creditors and debtors to resolve their outstanding accounts amicably. If your business needs collection agency services in Michigan, contact us today for a confidential conversation about your specific situation. We will either be able to assist you or make an introduction to one of our strategic partners.
 
If you want to discuss your specific situation or are contemplating making a switch between vendors, call us at 1-866-448-3936 or send an e-mail to info@accountadjustment.us. Should you prefer face-to-face, CLICK HERE to schedule a video meeting.
 
We would be pleased to review your concerns and give you unbiased feedback.

Our Collection Process

Collection agency services are one of our basic services. We work with forwarding-thinking companies, which is why we created The Proactive Receivable Solution™. This advanced process helps you build a proactive receivable system in your company to ensure you get paid in a timely and consistent manner. It also allows you to avoid The Reactive Bad Debt Trap™. 

We have two levels - basic and advanced. With basic, we provide you with our essential collection agency services. You can get the basic from many other companies, however, the advanced process we’ve developed, The Proactive Receivable Solution™, takes everything to a much higher level and is only available from AAB. Additionally, you don't have to hire us for collection agency services to get the advanced program – you can keep your existing collection agency services provider if you wish. 

Our Proactive Receivable Solution™ has four components:

1. AAB designs a blueprint for a more advanced receivable solutions for your business. 
2. You get the right people and train them properly. 
3. You use proactive credit-oriented marketing strategies to ensure that you work with only creditworthy customers and Prospects
4. You put in place a proactive and consistent credit application system. 

If you're interested in The Proactive Receivable Solution™, contact our office today for a free starter session. We’ll assess your current situation during this session and begin work on your customized Proactive Receivables Blueprint™. 

Collection Agency Services

For the last 50 years, AAB has been helping creditors and debtors to resolve their outstanding accounts amicably. If your business needs collection agency services in Michigan, contact us today for a confidential conversation about your specific situation. We will either be able to assist you or make an introduction to one of our strategic partners.

Our History as a Collection Agency

AAB has been providing collection agency services in Michigan since 1973. In the 1970s, collection agency services were simplistic. Our agents used file cards with paper documents attached to the back of the card. Back then, the telephone companies charged a lot of money for long-distance calls – a collection agency's second-largest expense was its telephone bill. Times certainly have changed! 

Today, collection agency services are easily performed from virtually anywhere in the world. While our firm provides collection agency services in Michigan, we also cover the rest of the United States, Canada, Mexico, and beyond. The most common areas we serve include landlords, building supply companies, fuel, equipment, rental companies, and professional service firms. 

Providing collection agency services has changed dramatically since the 1970s. In the 2000s, AAB began providing proactive credit consulting, early-stage collections, customers save campaigns, traditional third-party collections credit reporting, and litigation management. 

Collection Agency Services

For the last 50 years, AAB has been helping creditors and debtors to resolve their outstanding accounts amicably. If your business needs collection agency services in Michigan, contact us today for a confidential conversation about your specific situation. We will either be able to assist you or make an introduction to one of our strategic partners.