You can REDUCE IN-HOUSE COSTS and KEEP costs down.
How can I reduce costs and keep them down?
Payroll, postage, and print costs, just to name a few, are costs that can be reduced by outsourcing collection of delinquent accounts to a third party collection agency.
Choosing the right third party collection agency to recover past due receivables will also keep costs down when you choose an agency that is contingency fee based - if we don't collect, you don't pay.
Strive to find an agency that doesn't use hidden fees to charge more money for processes that should be included as part of their collection fee.
Taking these steps to reduce costs also allows you to maintain competitive prices and focus on generating new income.