While the economy continues to decline, most process serving and investigation companies have retained a steady influx of work. Yet, there are still areas of the business that have been faced with difficulties related to the economy. For process servers and private investigators alike, a crucial element of staying ahead in business is knowing when and how to collect on payments.
According to a poll in the PInow.com and ServeNow.com Yahoo! Groups 28 percent of investigators have discounted their fees during the recession, and 16 percent of process servers have cut rates as well. Times are tough, and while many process servers and investigators have seen an unprecedented amount of work with the foreclosure and collection boom, others are reaching a point where they have cut prices. This begs the question: During the recession, should you be competing on value or price?