Credit management is a daunting task if you have plenty of overdue accounts to settle on your own. Even if you delegate the job to a skeleton crew of personnel, you'll still invest time and resources going after money and property which rightfully belong to you.
When your business is financially tight, you need to make sure that all of your assets can be spent before borrowing or going into debt. The problem with unpaid debt is that it becomes less urgent over time.
If your debtor calms you down every time you ask for a payment, it's time to import big guns and hire professional collectors to get the quality assurance & compliance services.
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Collection agencies take on the task of investigating evasive or non-compliant debtors. When your patience reaches its limit and you feel overwhelmed by the voice of the debtor on the other end of the line, the hired collector can settle all the business for free and get back the bills due to you or your business.
This task is easier said than done as part of your daily routine. The stress of follow-up and deadlock will only disappear at the point that it is better spent on productive tasks such as human resource management and day-to-day operations. Many companies submit their collections to agencies with a lot of tactics.