Myths About Using a Debt Collector – Debunked

It’s funny: do a Google image search of “debt collector”, and you are likely to come up with all sorts of wild caricatures. There is the mob caricature, with his fat cigar, baseball bat and brass knuckles. There is the sleazy, comb-over-headed businessman presiding over his stash of bills and coins. And, of course, there is the caricature of the tough guy screaming into his phone as he pounds his fist on the desk.

These caricatures didn’t come from nowhere. There are, unfortunately, collection agencies that operate unethically, who use coercive, intimidating tactics to collect monies owed, who require unreasonable upfront payments and include hidden costs, and who lack transparency as they collect your money.

That should not dissuade you from using a collection agency, however. In this article, we are going to clear the air of a few debt collector myths. Each entry here is a common refrain from clients skeptical to involve a collection agency; we will debunk the underlying misconception so that you can see how we can help you with your cash flow. Here we go!

“Debt Collectors Will Hurt My Organization’s Image”

Branding is a major concern for any organization, be it a tech company, dental clinic, hospital, etc. And any negative advertising – including word of mouth – can be detrimental to new customer and client acquisition. It is understandable, therefore, that an organization might be leery of calling in a collection agency – if the agency you choose uses tactics unbefitting of what your organization stands for, your brand will suffer.

With Summit A*R, however, your organization’s image will not be tarnished. Using our guiding principle of PHD (preserving human dignity), we collect in a compassionate, professional manner that doesn’t use bullying tactics or annoying robo-calls. It is this dedication to dignity, coupled with our recovery rate that’s nearly double the industry average, which has made us one of the top medical collection agencies in the country.

“Debt Collection Will Drive Away Clients”

A very real concern for businesses seeking commercial collection is that their client relationships will be damaged. Oftentimes, the account in question is with a long-time client who just so happens to be overdue; you want your money, but you also want to keep their business.

Luckily, our commercial debt collection agency isn’t in the business of damaging client relationships. Quite the opposite, in fact. Acting diplomatically on your behalf, either as a first- party or third-party collector, we ensure that your client never feels insulted, bullied or mishandled.

“Aren’t Their Methods a Little Shady?”

Can’t speak for other collection agencies, who might use less-than-ethical methods for recovering debt, but at Summit A*R, we are aboveboard and accredited. We are proud to be rated A+ by the Better Business Bureau, showing that we are transparent, fully licensed and have received a negligible amount of complaint across our 20 years of debt collection.

And with all regulating agencies nationwide, we are fully, impeccably compliant. Not only is there nothing “shady” about us, but we also go the extra mile to be very transparent, very ethical and very professional.

“I’ve Waited Too Long to Collect, So There’s No Point Now”

There is no “point of no return” in collection. While it is true that it gets harder as a debt ages to recover a significant amount, there is nevertheless always a point in contacting us. In fact, many organizations that think they have waited too long are thrilled to hear that, in fact, they have not, and they are impressed by the rate of recovery.

That said, the sooner the better. If you have an inkling that someone won’t pay, or will be late in their payment, we can help. You shouldn’t think of us as a last resort, but rather a useful tool in expediting the payment process so that your cash flow is reliable. To that end, we even offer pre-collection services, where we do all the work of your in-house collection. For this, and other offerings, you can learn more about our services at the page linked herein.

“It’s Not Worth The Money I’ll Have to Spend”

Fair enough – why would you want to spend money to maybe get back other money? Certain other collection agencies require upfront fees, hidden fees and monthly minimums, meaning that you have to gamble away good money to chase after bad money. What a strange and unfair business model!

At Summit A*R, we do the more decent thing. We work on contingency fees, meaning that if you don’t get paid, we don’t get paid. That takes the entire gamble right out of it, which is one of the main reasons we’ve found that organizations are leery of using collection agencies.

“There’s No Way to Track My Account Status”

If you had the police investigating a theft of your property, you would want to be updated on the progress of the investigation. Likewise, with money owed to you. Unfortunately, some collection agencies prefer to work clandestinely, covering up their progress (or lack thereof usually) so that you are kept at a distance.

Summit A*R prides itself on open lines of communication. The account manager assigned to you will be available to answer questions and field concerns, and we will send you monthly collection reports to update you on the progress of the collection process. Every step of the way, you will be looped into what’s going on, meaning that you can plan accordingly on your end.

Those caricatures of sleazy, unethical, thuggish debt collectors may exist in the world, but we want nothing to do with them. Here at Summit A*R, we are looking to debunk those unattractive myths, one successful recovery at a time, using diplomacy, dignity, transparency and compliance with nationwide regulations.

Hopefully, this info has helped assuage some of your reservations about choosing a collection agency. As always, if you continue to have questions or concerns, our lines are open, or you can easily contact us through the website.