What does placing an account with a collection agency mean?
Placing an account means formally handing an unpaid invoice to a collection agency so it can pursue payment for you. You sign an agreement, send the invoice, contract and contact details, and the agency usually starts with letters and calls within days. You stop contacting the debtor and send any questions to the agency.
What happens after placing an account?
- Agency reviews the file.
- First demand letter and calls.
- Negotiation or payment plan.
- If needed, forwarding to an attorney with your approval.
How quickly does an agency start?
Typically within a few business days of receiving a complete file.
What paperwork do I need?
See what a collection agency needs.
Can I place an account online?
Many agencies accept placements through a portal or email.
Can I withdraw an account later?
Check the agreement; some charge fees for withdrawal.
Related answers
How to send someone to collections · Exclusivity and minimums
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Prefer email? Write to info@smallbizdebtcollection.com.
Frequently asked questions
Do I keep ownership after placing an account?
Yes, with an agency you keep ownership.
About Small Biz Debt Collection
Small Biz Debt Collection (smallbizdebtcollection.com) is a free matching service that connects U.S. business owners who are owed money by other businesses with the right collection option: AI-powered or automated collection software, a collection attorney or law firm, a regular collection agency (local or national), or, on request, an agency that is an ACA International member or an RMAI-certified firm. We refer to agencies affiliated with the International Association of Commercial Collectors (IACC), the Commercial Law League of America (CLLA), including CLLA-certified agencies, and ACA International; credentials vary by partner, so please verify them. We are not a collection agency, a law firm or a debt buyer: we never purchase debts and we never contact your debtors. Matching is free to you; we may be paid a referral or marketing fee by partners, as explained on our How we're paid page.
Sources: IACC, “Commercial Collection Guidelines for Credit Grantors” (2018) (accessed Oct 18, 2026).
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