6 Common Myths Preventing People from Hiring Debt Collectors

Outstanding invoices are a hindrance to a business of any size. If you do not take the required steps, they often turn into bad debts. This is why it helps to hire debt collectors who have the expertise to handle such situations in the best possible manner. However, most business owners, particularly individuals who have small businesses, can be hesitant to work with them. It is mostly because of a few common misconceptions. Read on to learn more about the myths when it comes to hiring debt recovery specialists to know the truth about them.

Top 6 Myths About Hiring Debt Collectors

You May Lose Your Customer

Most business owners believe that by engaging a debt recovery agency, they may end up losing the customers. However, reputable debt collectors adopt a professional and ethical approach. They will understand your business principles and respect your values. Also, they are aware of the best ways to deal with people in such situations. This helps to send the right message to customers and ensures that you receive the outstanding amount.

Debt Collectors are Expensive

Contrary to popular belief, working with a debt collector is not expensive in the long run. They can help you receive your money, which was deemed unrecoverable. Moreover, working with an agency that has a “no collection, no charge” policy like eCollect is an excellent option. This is because you only have to pay for their service if they successfully recover your debt.

Debt Recovery Specialists Work Only for Big Companies

Many people think that debt collectors are a good option only for big companies. However, there are debt collection agencies like eCollect who work with small and medium companies as well. They will understand your needs and provide services accordingly.

The Debt is Too Difficult to Collect

It helps to know that debt collection agencies have trained specialists who can help recover your debts. They are aware of the best techniques and practices to reclaim your money.

The Debt is Not Significant

This is a common myth about debts that many people believe. However, small debts often add up to become a significant financial problem. It helps to know that if a debt impedes your cash flow, it may benefit you to hire debt collectors to help you recover it.

They Will Give a Bad Reputation to Your Business

The root cause of this misconception lies in preconceived notions that people have about debt collection agencies. It helps to know that they have qualified and trained professionals who can help you recover your money efficiently and ethically. They adhere to the rules, regulations, and guidelines, including the Australian Consumer Law, National Credit Code, and other Australian laws.

Get Fast Debt Recovery with Our Experts

eCollect is a well-known debt recovery agnecy in Melbourne. We have qualified and professional experts to assist you. We will work to understand your needs and provide personalized solutions that meet your requirements. We place the utmost importance on customer satisfaction, which is why we provide 24/7 assistance. If you are looking for a debt recovery specialist, feel free to call us at 1300 666 585. You could also use our no cost and no obligation online Debt Terminator software to decide the best way to handle your debt!

Why Should Small Businesses Hire a Debt Recovery Agency?

It is essential for businesses, particularly small businesses, to manage their cash flow. Many things can negatively impact your cash flow, overdue accounts being one of the primary reasons. Failing to manage your accounts that are due can affect the growth of your organisation. As a leading debt collection agency in Melbourne, eCollect understands the importance of collecting the receivables on time, which is why we have listed the reasons why it is a smart move for a small business owner to hire a debt recovery agency.


Harsh Action for Threatening Collection Staff

eCollect takes its responsibility to protect our staff from threatening behaviour very seriously. Our usual practice is to report matters to the police where the threatening behaviour is serious enough to constitute criminal conduct.


What Should You Know About Attachment of Earnings?

Debt collectors, such as eCollect in conjunction with our associated legal firm E C Legal, are having some success with Attachment of Earnings applications in situations where our client has obtained judgment against the debtor but the debtor is still unwilling or unable to pay.