I am ready to open my collection agency just for the title abstractors. The fee would only be 10% of the collected balance.  Right now I just need the wait for the license.  What you need to do at this time is to send a letter to the owner of the company who owes the money.  State that you are giving them 30 days to pay the balance.  After the 30 days you will report them to the 3 Major Credit Bureaus, and contact a collection agency.  Make sure you send the letter certify and per fax at the same time.