Industry Collection Chart

Easy to see that the longer the debt is left unpaid the harder it is for you or an agency to collect.

Please be mindful of the Statute of Limitations which states, in brief, that any debts outstanding for more than six years are automatically negated or cancelled unless you have confirmation, in writing, from your debtor acknowledging the debt more recent than the six year allowed. 

Most agencies will charge additional commission dependent on the age of the debt and in most cases twelve months or more.

It is highly recommended that clients might consider collection action if a debt is 90 days or more and who are unable to at least have a payment agreement in place and operating.

Remember, a sale is not a sale until the money is in your bank.

Industry Collection Chart