Debt collection agencies are responsible for recovering any transportation-related debt that is owed to a creditor, shipper, or receiver. Generally, the collection process is simple and straightforward, but if your needs are related to transportation, a specialized approach is sometimes needed. Here is what you need to know about transportation debt collection.
The Need for A Transportation Debt Collection Specialist
As mentioned above, transportation-related debt collection issues need to be approached in a different way than standard collection procedures. Transportation is a complicated industry, so having collection specialists is incredibly useful for the best interests of the client.
Transportation includes rail transport, aircraft, freight liners, trucks, and more, with each method of transportation involving different ways that debt is accrued and accounted for. A transportation debt collection agency will help recover both monetary debts as well as freight. With a specific understanding of receivable accounts in transportation, an agency will be able to communicate with debtors, explain the collection situation, negotiate payments, and recover the debt quickly.
Benefits of Transportation Debt Collection Agencies
Because the transportation industry is so vast and complex, as explained previously, choosing to go with a reputable agency is in your best interest. Here are some of the top ways that a transportation debt collection company can help your business recover losses and improve financially:
- Tested methods. A good collection company will have experience in transportation and will have standard subrogation protocols that have proven effective.
- Preserving good customer relations. A transportation-specific collection agency will be able to follow through with collection in such a way that the client-customer relationship remains intact. Once the debt is resolved, the client can easily continue to work with your business after a collaborative and mutually successful collection.
- Reduced stress. Debt collection is not an easy task and is certainly a time consuming one. It isn’t necessarily conducive to running your business as usual if you also have to follow up with debtors. Working with a professional agency will remove the stress of the collection process and leave you free to assist clients and customers.
- Established industry expertise. A transportation-specific agency will already know the ins and outs of transportation. You won’t have to take time to explain shipping processes or recovery techniques. Rather, an established collection company will already know all the details of the transportation industry and will know best how to approach the situation without taking up your time.
Why Choose AWA for Your Transportation Collection Needs?
AWA operates on a contingency fee basis, meaning, if we cannot collect, you owe us nothing. If collection efforts are successful, our rates will be based on how old and how much the debt is, if there is a damage claim, and whether the debtor is in or out of business.
AWA specializes in Transportation collections; it is all we do! AWA’s strong understanding of the transportation industry puts its clients in the best position to get paid. If you have unpaid freight invoices and are not sure what to do next, call 662-892-8591 to speak with one of AWA’s client specialists today or Contact Us Directly!
For more information on our agency practices and methods, view our AWA Collection Process Page.