Time to Turn over Delinquent Accounts to Collections

May 27, 2014

The Business Reality

The best part of owning a business is planting the seeds of ingenuity, expertise, and endurance then watching them grow into a self-sustaining business. Entrepreneurship combined with hard work and excellent customer services have time and again propelled the smallest startups into the greatest companies the world has ever seen. But as your goals and ambitions grow, so do your accounts and, unfortunately, some of these accounts slip into delinquency. This can be an awkward and uncomfortable reality for some business owners who sympathize with clients who encounter financial difficulties and leave their debts unpaid. But a second business reality is that your company will not experience the growth it deserves if you allow for delinquent accounts to go unpaid. For this reason, many business owners turn to debt collection services for help.

Automated Accounts Receivable

The truth is collecting debts legally owed to your company is an ethical responsibility. Tracking down delinquent accounts is a part of managing cash flow, which affects company profit, employee pay and benefits, and covers the general cost of doing business. Fortunately, there are new automated accounts receivable systems that can find and notify you of aged accounts. Notifications can include details like past payment performance, total sales, total delinquency, and the length of time the customer has been with the company. Optimized systems can include comments about accounts, trends, and other details that might explain account delinquency or indicate probabilities of repayment.

Debt Collection Agency Merchant Accounts

Few businesses have the time and ability to personally call each debtor for repayment, therefore many businesses choose to turn over delinquent accounts to credible debt collection agencies who utilize honest and effective methods to collect past due debts. Reputable debt collection agencies use merchant account collection agency specialists like eMerchantBroker.com to process collection agency merchant accounts.

Why eMerchantBroker.com for Collection Agency Merchant Accounts?

Debt collection agents and agencies are considered high risk by traditional payment processing institutions. If the agency is young or a startup, many credit processing providers will deny their accounts. Without credit processing capabilities, collection agencies are dead in the water, as they will be unable to efficiently collect payment for clients.

eMerchantBroker.com is the #1 provider of merchant accounts for the collection agency industry. We have assisted thousands of collection agencies including industry leaders like Collections Max. Our team of experts offer the most sophisticated Collections software and any payment processing solutions debt collection agencies may need.

eMerchantBroker.com does not require an extensive credit history, and can get a collection agency merchant account set up an approved in as little as 24- 48 hours. Apply today and enjoy some of the benefits of being on a winning team like:

  • No Application Fees
  • Competitive rates
  • No VISA/MasterCard Required
  • Secure Payment Gateway

Contact us at www.emerchantbroker.com or call 1-800-621-4893 to get started.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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