For most people in the United States today, debt has become a standard fact of life. Consumer debt currently stands at around $11 trillion when common forms of lending, including car loans, student loans, credit cards, and mortgages are considered. So, it is no wonder that more debt collection agencies are being opened than ever before to handle the collection of accounts receivable. In 2016, more than 8,500 agencies were in existence in the United States, and that number looks set to increase year-over-year as the problem of rising debt becomes ever-more paramount.
While there is an ever-increasing need for more ARM collections companies, it is not easy for these agencies to find a dependable payment processing service to supply appropriate technology or to facilitate payment collections. Some billing companies are reluctant to work with debt collection agencies because of the negative publicity that is connected with their industry, and this can cause problems for agencies that need to find a convenient way to process payments and to make it simpler for debtors to pay the sums that they owe.
Debt Collection Is a Vital Service
Companies of all sizes, from all types of industries, value a debt collection agencies’ ability to effectively collect on hard-to-reach customer accounts. ARM collection agencies offer a vital service that enables businesses to gain back some or all of the money that they are owed.
The Importance of A Credible Payment Services Provider
ARM collection agencies need a credible provider of payment services with a good understanding of the complexities of the debt collection industry and is also willing to provide its solutions to such a risky sector. BillingTree specializes in offering high-quality payment solutions and can supply innovative and high-performance technology that perfectly accommodates the needs of collection agencies. It meets all compliance regulations and offers a broad spectrum of payment capture options to maximize the amount of debt obtained from debtors.
BillingTree’s Flexible Payment Solutions
As a highly experienced supplier of ARM collection agency payment processing services, BillingTree can provide the flexibility that agencies need to smooth customer relationships and to improve their performance while offering the peace of mind that comes with knowing that the solutions have been deployed successfully thousands of times. Even better, BillingTree works in partnership with banking networks to provide highly cost-effective rates based on the volume of transactions and to ensure maximum value when it comes to the collection of accounts receivable for debt collection agencies.