Tax Season is an Excellent Time for Collections
Leave a commentFebruary 10, 2021 by Lisa Brammer
Tax season officially begins when the IRS starts accepting and processing tax returns on February 12th.
According to the IRS, last year the average tax return was over $2,500. This year they are expecting to receive more than 150 million tax returns. You do the math. That’s a lot of dinero!
If handled correctly, this can be an extremely good time for collections. After seeing the aforementioned numbers, you can understand why. That bump of cash gives us a great opportunity to work with consumers to pay off their accounts.
Of course, everyone should be mindful and take into consideration the hardships many are experiencing because of COVID. But on the flip side, there are also some who’ve seen an increase in their hours or a boost to the prosperity of their business. It’s important to ask questions and not take a one-size-fits-all approach.
Don’t be afraid to bring up tax refunds early, like in December or January and ask if they’ve thought about using their tax return to pay off their debt. By staying upbeat and planting the seed of this handy solution for paying off their past due account you can create a win for you and your consumers.
United Credit Service, Inc. is a full service, licensed revenue cycle management and debt collection agency that has been providing effective, customized one on one management and recovery solutions for our business partners in the Midwest since 1950. Visit our website at http://www.unitedcreditservice.com, call 877-723-2902, or check out our YouTube video.
image provided by: Creative Commons
