Many business owners avoid using debt collection services due to common myths, most of which are outdated or simply false.
Let’s bust them:
Myth 1: “I’ll lose my customer if I send them to collections.”
Truth: A good debt recovery solution will work with respect and diplomacy. It’s possible to collect debt and preserve the relationship.
Myth 2: “Debt collectors are only for big amounts.”
Truth: iCollect soecialises in recovering debts under $500, in fact that is why it was created, to help those with no value debts and no where to turn.
Myth 3: “It’s too expensive.”
Truth: iCollect offers a one off debt price $20 +gst for one debt, no matter than value, not a bad deal. iCollect also offers affordable monthly pricing models.
Myth 4: “I should wait longer, they’ll pay eventually.”
Truth: Debts become harder to recover the longer you wait. After 90 days, recovery chances drop sharply.
Myth 5: “I should handle it myself, it looks unprofessional to outsource.”
Truth: Outsourcing shows you value your time, protect your cash flow, and take your business seriously. If you choose to use iCollect you are in control, no outsourcing and dealing with the debtor directly. A win, win.
Getting paid is based on the action you take. Taking action leads to results. There is no other way to express the importance of taking action. Debt collection whether in house or outsourced is the answer to taking action when all your internal accounts receivable solutions are not working.
