Can Universities Benefit From Using a Collections Agency?
When it comes to debt associated with colleges and universities, most people immediately jump to student loan debt. However, these aren’t the only types of debt that college students can accrue over time, and in many cases, these faculties need help collecting the outstanding debt. By utilizing a third-party debt collection agency, universities can have a dedicated team to go out and handle the education debt collections process and ensure you receive the money you are owed.
Higher education institutions can reap a wealth of benefits from utilizing AR Resources, Inc’s collections agency in Del Ray, Florida. Some of these benefits include:
Specialists in Their Field
Most universities don’t have the manpower to go after every student that owes them money for one reason or another. With unpaid tuition, overdue library fees, parking tickets, and multiple other debts that college students generate, many universities don’t have the staffing to go through and track these individuals. However, with a dedicated collections agency on your side, you gain access to an organization with extensive experience getting the money their clients are owed.
A Clearly Defined Paper Trail
Sometimes, the action of collecting debt from a current or former student can become contentious. As you begin to prepare for potential court dates with the debtor in question, having a clear and concise paper trail of how you approached them will help solidify your case. A debt collections agency has experience maintaining a defined paper trail of when the debtor was first contacted and all of the crucial details that will make or break a collections case.
High Success Rate
Getting a professional collections agency to come in and handle collecting past and overdue debts brings a higher success rate than if you attempted to do it on your own. With specific training and experience in dealing with debtors that try to skirt payments, phone calls, and other contact attempts, an experienced collections agency can navigate the potentially tricky waters and get you the money you are owed quickly and efficiently.
Perception makes all the difference in how most people respond to calls about past debt. With the college or university in question making the calls about collecting the debt, people might be more inclined to ignore the phone calls and go about their lives.
However, as soon as a debt collection agency enters the picture, people are more inclined to realize the amount of trouble they are in and cooperate with the process. An experienced debt collection service has the ability and skills necessary to help facilitate the process.
Partner With the Right Debt Collections Agency
As your higher education institution looks to improve its collections rate and get the money you are owed, finding the right agency will make all the difference. With AR Resources, Inc., you gain an experienced and proven debt collections agency specializing in working with colleges and universities to get the money they are owed. With things like unpaid tuition, fines, and fees mounting, having the right team on your side can make the whole process less of a hassle.
Contact the AR Resources, Inc. team in Del Ray, Florida, to learn more about our services and schedule your first meeting with us today!