Certain aspects of running a business are almost necessary evils. Debt collection is one of them. And when debt collection goes as far as civil litigation, business owners need to consider how much time they can afford to put into litigation and collection. If you are looking at taking deadbeat customers to court, how much is your time worth to you?
Businesses of all sizes and scopes need to be careful to manage their expenses. It’s easy to keep track of things like office supplies and employee wages. Their costs are easily quantified in hard numbers. But there is one cost that seems to escape businesses when it comes time to collect bad debts: time.
Time Is an Asset
What must be understood is that time is an asset in the business world. But when it’s wasted or put toward unproductive things, time can become a liability. Such is the case with both general debt collection and judgment collection. The amount of time put into either one represents time that cannot be spent on more productive things. Rather than time being an asset, debt collection turns it into a liability.
As a small business owner, all the time you put into debt collection is time you are not putting into improving your products or services. It is time not being used to improve customer service, develop new marketing campaigns, and train employees so that they can better serve customers.
Time is such a valuable asset that business owners can’t afford to waste it. They cannot afford to put time into collecting bad debts. That’s where Judgment Collectors comes in. As a collection agency that specializes in unpaid judgments, we give clients their time back.
A Double-Edged Sword
Collecting unpaid judgments can be a lot more involved than general debt collection. That being the case, judgment collecting can be a double-edged sword from a time standpoint.
Because collecting unpaid judgments is so time-consuming, your company might have to dedicate an employee to do nothing but work on judgments. So now you are paying someone a full-time salary plus benefits to collect money you are already owed. That is one edge of the sword.
The other edge is found in the fact that your collections employee isn’t generating new revenue through the work they do. So you are paying that employee but not bringing in any more money as a result. Remember, the judgment you are trying to collect represents money you are already owed. It is not new revenue.
What We Do
Here at Judgment Collectors, we go to work on behalf of our clients to collect their unpaid judgments. We put in all the time necessary to get the job done. Clients never have to think about their judgments again. They turn them over to us and we do the rest.
That accounting department employee whose sole job is debt collection can get back to more important accounting matters. As a business owner, you can get back to the task of making sure your customers are taken care of. You will not be spending any more late nights trying to get caught up on work you are prevented from doing because you had to focus on debt collection.
How valuable is your time? If it is valuable enough that you don’t want to put it into collecting an outstanding judgment, perhaps it’s time to contact Judgment Collectors. Let us spend the time on your case. Let us do what we do best so that you can reinvest your valuable time in tasks that will generate new revenue.