What is Collect?

What is our Collect service and how is it used?

Our Collect service is designed to help you get paid on past-due accounts you've tried everything with and that you're ready to escalate to collections. Our platform uses intelligent technology to transform the way you handle no-pay customers. It allows you to effortlessly send past-due invoices to ethical, effective debt collection agencies in just a few clicks. The process takes only a few moments and provides you with a clear, easy-to-understand offer for sending past-due invoices to collections. And the best part - it's free to use! 

After integrating your CollBox account with your accounting system, CollBox will analyze your accounts receivable to identify slow-pay and no-pay customers. From there, you simply select the past-due accounts you want to send to collections and we’ll take it from there.

Our platform automatically gives the agency everything they need to get the job done and we notify you when money’s coming your way so you can get back to what’s important —running your business.

When an account is submitted to collections through CollBox, your specific debt is matched with a collector in our network who has been proven to be effective within your industry. Our network is comprised of certified and vetted agencies to ensure that your invoices are only placed with reputable agencies.

Before officially submitting the account to collections, we show you the agency’s rate upfront for you to review. The collection fee varies by agency, as well as the amount and age of the invoices, but you'll have all of the information before you make a decision. 

A good guideline to keep in mind: The older an invoice is, the lower the chance of success in collecting it and the higher the collection fee. We recommend submitting past-due invoices as soon as you can to maximize the chance of collection as well as to minimize the collection fee.

Remember, collection fees only apply if the collection agency successfully recovers funds for you. That means there is no cost if they are not able to collect. 

Collect is recommended for users with invoices 90+ days overdue. For users with overdue invoices between 0-90 days, our Assist product is likely the better fit.

If you have any questions about Collect or want to learn more, please reach out to our team at support@collbox.co.