FFCC: Small Business
Debt collection specialists
effective solutions for Small Business Debt Recovery
We Provide Small Businesses With Excellent Debt Recovery Rates While Maintaining Customer Relationships.
Small Business Debt Collection
We understand that starting and running a small business is challenging enough without worrying about unpaid invoices. You have worked hard to build important relationships with your customers and the last thing you want is a dispute.
However, at the same time, you want to recover what you are owed for your services so you can develop your business. Chasing customers for payments is difficult and stressful. Often, small business owners will give up because they just don’t have the time or energy to deal with it.
That’s where FFCC can step in and take the difficult situation off your hands. Small business owners find huge relief in passing the awkward business of debt recovery to our specialists. We care about your business and do everything we can within the confines of applicable laws to recover the debt.
At FFCC, we are proud to offer our services to small businesses in a wide range of industries including but not limited to:
- Auto loans
- Pest control
- Lawn care
- Wholesale food distributors
- Alarm companies
- HVAC companies
- Emergency restoration services
- Construction companies
- Roofing companies
- Private schools
- Property management companies
Get in touch to find out how we can work with you to recover what you’re owed sooner than you think.
When You Need Small Business Debt Recovery
Unpaid invoices may start as an annoyance but can lead to serious problems for your small business. The slowing of cash flow and reduction of inventory turnover can affect your credit rating and harm your business’s reputation. These can cause a chain reaction of problems that could seriously threaten your business.
But how do you know when it’s time to hire a small business debt collection agency? Here are some tell-tale signs that you need help with debt recovery from our specialists.
You're Spending Too Much Time Requesting Payments
You started your small business because you have certain skills and passions that lead you to open your doors in the first place. If you’re spending more time chasing unpaid invoices than you are providing your unique services, then things need to change.
Your main focus should be on making new money and maintaining valuable relationships with your customers. Hiring a debt collector will free up your time to focus on your core business and reduce the risk of further problems.
The Debt is Affecting Your Bill Paying
Did you know that 29% of small businesses fail in their first year due to cash flow problems? Regular cash flow is essential to keep your head above water and allows you to invest back into your business to help it grow.
Withheld payments from customers will eventually affect your cash flow to a point that you will not be able to pay your bills. Restocking inventory, paying salaries, and utilities are day to day expenses of your business. Slipping on these is not an option if you are to maintain a good reputation and keep customers happy.
Your Staff Have Become Debt Collectors
Assuming you’re not a debt collector agency, constantly chasing customers for payments should not be the responsibility of your admin staff. This puts unnecessary pressure on your staff who will feel uncomfortable repeatedly contacting customers to request payments.
Multiple unsuccessful attempts to recover debt could make them feel like they’re falling and cause friction between you and them. It’s important to maintain a healthy dynamic among your team, especially in difficult times. The solution is to leave the debt collecting to the professionals.
You’re Starting to Believe You’ll Never Get Paid
If you have exhausted your efforts trying to recover what you’re owed, you may start to think it’ll never be resolved. You may lay awake a night toying with the idea that you may never get paid.
But the longer you wait to get professional debt collection help, the worse the situation could get. The more time that passes, the less likely the customer could be able to pay the debt at all.
It certainly won’t help to put it off any longer. Get professional advice today.
Benefits of Small Business Debt Recovery Services
Although hiring a small business debt collection specialist may seem like a drastic measure, there are many benefits to doing so. Whether your concerns have just begun or you’ve been tackling this problem for years, we’re here to help.
Preserve Your Customer Relationship
Whether it’s a regular customer or a new one, requesting payment for outstanding invoices is an awkward situation to be in. Hiring a debt collector to handle the situation helps you:
- Avoid any frustrated or emotional interaction between you and the customer
- Be done in a systematic professional manner that is proven to work
- Allow you to keep this transaction impersonal
- Help your customer realize the severity of their actions if they did not before
Unlike other debt collector agencies, our non-confrontational approach is sensitive to maintaining your customer relationships.
We are not in the business of intimidating or unprofessional behavior towards debtors. We handle every case with responsibility and maintain excellent communication with our clients regarding our actions.
You are too busy trying to run your business to become a full-time debt collector. The same goes for your staff. Hiring a debt recovery agency will give you the time to do what you do best and let your staff do their job too.
Our highly skilled team has years of experience dealing with a wide variety of debt collection cases. We have the knowledge and expertise to recover what you’re owed in as little time as possible.
Taking legal action in these cases is time-consuming and costly. Often, the cost of going to court and lawyer fees will amount to more than the amount of the debt owed. The last thing you want as a small business is to have a court battle taking up your time and resources.
By hiring a small business debt collection agency, you are more likely to solve debt problems without stepping foot in a courtroom. We recover 42% of the debt owed to our customers without the need for legal action.
Get Helpful Support
Trying to recover losses and chase unpaid invoices can be a stressful and lonely process. By hiring a professional debt collector who specializes in working with small businesses you will have someone to answer your questions and offer support in time of need.
Our compassionate team is understanding of your situation and will do everything they can to help you feel at ease. We provide you with the tools and expertise needed to give you the best chance of regaining your lost payments so you can get back to business.
Excellent Recovery Rates for Small Businesses
You may be at the stage of thinking you’ll never recover the outstanding payments. With our help, you certainly stand a good chance of success.
Our years of experience and proven debt recovery methods provide excellent results for small business owners and our other clients. Using advanced technology and our powerful database, we can achieve higher rates of recovery on your delinquencies.
Our average annual recovery is more than $20 million in debts that would have otherwise been uncollected. If we are provided with the correct phone number and address of the debtor, we have an amazing 42% recovery rate.
If you have experienced a failed debt recovery attempt using a different debt collector, no problem. We have an 18.1% success rate for previously failed accounts. We go the extra mile to recover debts for our small business clients.
Unlike some rogue debt collectors who used illegal practices to intimidate debtors, we conduct debt collection by the book. We pride ourselves on offering exceptionally professional debt recovery services that follow state and federal law such as the Fair Debt Collection Practices Act (FDCPA).
We will only contact the debtor during reasonable hours and communicate clear and honest information. We document and record every step of our process and report it on your personal FFCC portal which you can log in to and track at any time.
As representatives of your small business, you can rest assured that we will protect your business integrity.
Legal Small Business Debt Collection
The FFCC Process
Step 1: Initial Consultation
Get in touch with our small business debt recovery specialists to arrange a meeting. Here you can explain the situation and provide any documentation and records of the transaction and any previous contact with the customer. Our team ensures they have a full understanding of the circumstances before taking the next step.
Step 2: Customer Contact
Our team will make contact with the customer in question in a non-confrontational manner. We will request payment in full by phone, or by letter.
We provide the customer with 30 days to dispute the debt in writing. If we do not receive a dispute from the customer, we will assume the debt is valid and continue the process.
Step 3: Payment Negotiation
If the customer cannot pay in full right away, we will negotiate a payment plan with your approval. We will work with you and the customer to work out a payment plan that suits everyone.
The customer may have to agree to a Debt Management Plan (DMP). This is often the solution between small business owners and their customers.
Step 4: Outcome 1- Debt Recovery
Upon completion of paying the agreed amount from your customer to you, together have achieved success! We know we only succeed when you do, and that means delivering results. We will provide you with our fee which is payable online.
Step 5: Outcome 2- Legal Action
If the payments are not completed according to the payment agreement, we will work with you to initiate legal action. This will depend on how long the debt has been owed. Each state has a different time limit or statute of limitations on debt.
This is the last resort. Legal action can be costly, time-consuming, and sometimes not worth the expense in comparison to the debt owed.
Your Trusted Debt Collection Agency
For more than 50 years, FFCC has led the industry, surpassing the competition’s success rate. We pride ourselves on revolutionizing what a collection agency experience is supposed to be.
Although we are a larger scale debt collection agency, we provide small-scale focused attention to our small business clients.
Our team of highly qualified and skilled small business specialists has years of experience working with business owners. We get to know your business and your customers to enable us to provide a customized service that will best suit your needs.
We are part of a network of over 4,000 collection specialists as part of the Association of Credit and Collection Professionals (ACA International). Our clients trust us to handle their debt recovery due to our excellent track record and high recovery rate of 42%.
We provide our clients with their very own secure portal where they can see updates regarding account status and payments. We do everything we can to make the whole process simple, well communicated, and successful for our clients.
Small Business Debt Recovery Pricing
When you work with us, you don’t have to worry about hidden fees or contracts. There is no upfront fee or unexpected extras. We are fully transparent and only charge fees on accounts that we have collected.
We also remit all money collected for our clients at the conclusion of each month, so you never have to wait for your money. You can keep track of your payment updates at any time on your personal portal.
Get in touch to find out more about our pricing for small business debt recovery. Our helpful team is available to answer any questions you may have.
Start Your Debt Recovery Process Today
Timing is essential in these difficult situations and the longer your delay in taking action the worse it could get. We recommend getting in touch with our small business specialists to get some professional advice on getting started.
We look forward to taking the stress of debt collection off your hands so you can focus on your business.