Biorn Corporation Observes Interesting Trends for the First Half of 2021

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Aug 03, 2021, 08:44 ET

MINNEAPOLIS, Aug. 3, 2021 /PRNewswire/ -- Biorn Corporation, a professional, third party debt collection agency, has been observing some interesting trends for the first half of 2021.

Debt collection placements assigned to Biorn Corporation by their clients are down 23% when compared to the first six months of 2020. Some of Biorn Corporation's clients have experienced a decline in sales, while others are experiencing staffing issues and/or heavy workloads which are causing delays in addressing their past dues on a timely basis. In addition, the average placement size is down 24% in the same time frame, a clue that the big orders are no longer the norm.

Craig Biorn, President of Biorn Corporation, has 39 years of debt collection experience. He cautions companies against falling into the trap of procrastinating with collecting their debts. He knows all too well that the longer you wait on collecting your money, the further your odds of success in recovery of those dollars is diminished.

On a positive note, his data shows improved recovery results. Biorn credits this good news to his professional staff in maximizing collection results. In the event his in-house team is unable to collect the debt, he utilizes his attorney network for futher efforts. Biorn has a rich history of experience in evaluating his attorney network and strongly believes he has an excellent roster to escalate and improve collection results. Biorn's numbers support this, as there has been a 20% increase in recovered dollars from his attorney network for the first two quarters of this year when compared to last year.

Biorn is thankful that his team has accomplished the second best year of the company's 17-year history in 2020, especially when faced with the economic impact of the COVID-19 pandemic. To make it all the more exciting, his team is an eyelash from 6% growth over last years' comparison for the first half of 2021.

Biorn Corporation is getting the word out to credit professionals to act on their past due dollars. With recovery trends showing healthy results, it's wise to utilize a third party agency rather than leaving those precious dollars sitting on their company's books.

Biorn's team charges a contingency rate for their services based only on the dollars collected. Their rates vary based on volume of accounts, age of debt, and average size of claims placed. Biorn Corporation does not skim their placements like some other agencies and is proud to put forth a midwest work ethic to ensure each account placed with their agency is worked to a conclusion. While many of these placements are on-going assignments, Biorn Corporation also offers liquidating pools of receivables for credit consultants, banks and bankruptcy trustees.

Craig Biorn is available to consult with you about your collection needs at: 612-868-8489 or [email protected]

SOURCE Biorn Corporation