When Collection Agencies are Your Friends

Jan 13, 2015

Owning a business can be the most exciting and satisfying thing in your life. Nothing is better than making sales, reaching goals, and moving product. But sometimes customers are unable to or flat out refuse to pay for products or services after they’ve used them. Despite your best efforts, your business may simply not be able to get certain customers to pay what they owe. But you also don’t want to lose a customer by pursuing debts in a reckless or uninformed matter. When courtesy and requests aren’t enough to collect debts, it may be best to call a professional collections agency.

Good collections agencies are not the aggressive gangsters portrayed on television. Collections agencies use sophisticated collection techniques and compliance knowledge to help customers resolve payment issues. Before selecting a particular collection agency to represent your company, consider the following elements:

  • Ability to Communicate: If the agency is representing you, they must know how to communicate with your customers and you. Dig into how focused and detailed their reporting is. Do they record all phone calls and other attempts to contact the customer? How do you receive payment after collections?


  • Success Rate: What is their percentage of successful collection for total past due balances? The higher this percentage, the more money your business makes.


  • Industry Expertise: Ideally you will pursue a collections agency that is related to your industry. This is important because they will be more familiar with the ins and outs of your business operations and products. This will make it easier to collect payment.


  • Observation: Ask to see any sample collection letters they have. Or to watch/listen to any recorded conversations they have with customers. This will give you a better idea of their approach so that you can refine it for your customer.


  • Find a Credible Payment Processor: Once you’ve found a suitable collections agency, then make sure to have the best payment processor for your collection agency merchant account. eMerchantBroker.com is the preferred processor for  Collections Max, and Industry Leading Collections Software. We have assisted thousands of collection agencies and will acquire the payment processing solutions needed to get the job done.



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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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