Oil and Gas Debt Collections
Account Adjustment Bureau or AAB provides the oil and gas service industry with commercial debt collection. Oil and gas debt collection is a specialized area of commercial collections with unique recovery logistics.
Oil and gas debt collection is comprised of self-employed debtors or debtor service companies that are constantly on the move. Oil rigs can move hundreds of miles in a few days. A debtor company key employee gets a better offer. They change jobs, and your invoices do not get their authorization before they leave the role, and the payable gets lost in the shuffle. Business moves fast in the oil patch, and when a debtor stalls or disappears, it is time to place the account for oil and gas debt collection.
Oil and Gas Debt Collection Tools
Oil and gas debt collection require a skilled commercial collector. Often a debtor service company may be expecting monies from a receivable, payment on a project milestone, or settlement. Most agencies would accept a promise to pay and pray the money comes in per their oral contract. AAB goes a step further and secures the payment with tools like an irrevocable direction to pay or an assignment. AAB secures payment whenever we can when we do an oil and gas debt collection.
The biggest tool for oil and gas debt collection is information. AAB is a member with all the major consumer and commercial credit bureaus. We also subscribe to numerous other data sources, which cut the time to locate the debtor principals. Knowledge is power and leverage in an oil and gas debt collection.
Oil and Gas Debt Collection Outsourcing
With the transient nature of the smaller scale oil and gas service industry, outsourcing your debt collection may be your best solution. AAB has early out programs where we monitor your accounts receivable and follow up on delinquent accounts. Basically, we make sure your money comes in faster and reduce bad debt write-offs at a lower cost than the rates charged for a standard oil and gas debt collection.
Whatever your specific collection needs, AAB has the right solution. Discuss your needs today with an AAB collection professional or schedule a free consultation on our oil and gas debt collection.