Commercial Collection Agency O'Connor-Ravell Spotlighted in Local Paper

Business is booming for collection agencies all over the country, so says the media. In the latest spotlight, New Jersey paper The Daily Record, runs a piece detailing the soaring fortunes of local commercial collection agency O’Connor-Ravell Associates.

Based in Madision, N.J., O’Connor-Ravell has been “deluged with calls from firms requesting its services,” according to the article. The 31-year-old business already counts some 2,000 clients. Georgette Ravell, co-owner and co-founder, told the paper that she spends at least five hours a week responding to client inquiries.

Ravell said that the sour economy is the primary driver of the surge in business. But it’s not just an uptick in late payments driving requests for services, it’s businesses that are nervous about cash flows.

She noted that potential clients are inquiring about collection services at earlier stages. Revell said that companies would typically wait until their debt was 90 to 120 days past due before contacting her. But now, anxiety over cash flows is prompting them to call earlier.

Emil Hartleb, executive director of the Commercial Law League of America (CLLA), agreed with Ravell. He said that businesses become concerned about their “marginal” accounts when the economy hits a downturn, thus they get more skittish about arrears.

O’Connor-Ravell is a member of, and certified by, the CLLA.