Already facing challenging economic conditions, companies are being hit hard by something unexpected: their collection agency going out of business. It’s bad enough that default rates and unpaid invoices are sky-rocketing; now companies are scrambling to find a way to get paid for their work.

SHERIDAN, WY, USA, Feb. 11, 2022 (GLOBE NEWSWIRE) -- Another weird twist hits the business world as companies are suddenly facing a new, unexpected problem: their collection agency going out of business.

As the global pandemic continues to wreak havoc in the corporate world, transforming the way business is conducted, companies depend on their collection agency to do their dirty work of chasing down everyone who doesn’t pay for their products and services.

One may imagine this to be a lucrative industry, one that may even thrive in hard economic times.

Much to the contrary, collection agencies are shutting their doors and leaving their clients hanging at an alarming rate.

After years of breaking laws, deceptive accounting practices, and all-around operating with the moral compass of a tyrant, collection agencies are simply closing up shop.

In the golden era of collections, many of them thrived by undercutting their competitors with insanely low rates just to win new business only to do the unthinkable: collect money and not even pay their own clients.

Although this is totally illegal, it is common practice in the dirty world of collections, and now it’s catching up to them.

Fast forward to today, collection agencies are struggling to stay afloat because many have no real track record of operating ethically. With crackdowns by the FDCPA and other regulatory bodies, they are being forced to do things the right way. This is something they are unaccustomed to and frankly, many are not able to pivot quickly enough to remain profitable and stay in business.

This is a massive blow for businesses nationwide which couldn’t have come at a worse time.

Default rates, unpaid invoices and clients simply breaching their contract and not paying what they contractually owe, has become the new normal, with no end in sight.

At the exact time companies need someone to collect the money they are owed, their collection agency’s performance is either going down or they simply go out of business.

This shocking trend has, however, opened the door for new models to emerge that finally give businesses peace of mind and somewhere to turn as clients who don’t pay, continue to escalate.

One such company, Diplomatic AI, is taking advantage of this unsexy trend of companies needing to find a new way to collect what they’re owed.

“It’s insane. The level of abuse that these businesses suffered through with their collection agency is so cringey, it’s shocking. Many times, our new clients have us not only collect new unpaid accounts, but also all the accounts their collection agency claimed weren't collectible, and we even go after the collection agency themselves who oftentimes we find, were hiding money from their own clients,” says Jason James, Founder of Diplomatic AI.

To add insult to injury, once a collection agency shuts its doors, most of the time nothing can be done. The clients they robbed cannot get the money they should have received. There’s simply no recourse, and, as such, the trend is projected to continue to grow.

“One of the biggest surprises we hear regularly now is how grateful people are to have found somewhere to turn to that’s transparent, ethical, and actually gets the job done,” says James “because they are so used to being mistreated that it’s almost like they are escaping from an abusive relationship and they don’t even realize it, until they make the switch.”

Diplomatic AI is the answer companies have been searching for because they finally get the money they are owed, five-star service, free legal, investigative and advisory services, and perks that collection agencies should offer but don’t, like free demand letters.

The shift away from collection agencies to Diplomatic AI has extended to the finance world where big players are getting involved like Genesis Assets, the world’s first hedge fund that allows its investors to get paid on any of the money they are owed and invest this ‘found money’ into their hedge fund. Investors no longer need to use their own capital; they get Diplomatic AI to recover money they are owed with no upfront cost and roll their collections revenue into lucrative investment funds.

“As inflation skyrockets, companies go bankrupt and industries transform, businesses around the world are looking for new ways to increase profitability without doing extra work or risking any upfront investment,” says James. “We’re excited to be at the forefront of giving folks the collections experience they deserve: profitable, great communication, 100% transparency and also give them the optionality to dramatically accelerate their wealth by reinvesting their collections revenue into cutting edge investment vehicles.”


For more information about a way to get paid on debts your company is owed, visit www.Diplomatic.ai

CONTACT: Name: Jason James Organization: Diplomatic AI Address: Sheridan, WY USA Phone: 305-748-4416