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Q:
What
happens after I place an account?
A:
Efforts to collect begin within 24 hours of
placement. Our clerical staff enters the debtor's
information into the system to generate a file, which is then
assigned to a collector. Steps are then taken to verify
the debtor's contact and location information. Initial
contact is made with the debtors as the investigation
begins. Corporate records are searched and
verified. Principals are identified to ensure we are
contacting the "Decision Makers". Demand for
immediate payment of balance in full is made at this time.
Q:
What do
I do if the debtor calls our office?
A:
Now is the time to exercise control.
The debtor who once dodged your calls now seems to want to
resolve this with you. The debtor must be directed back
to our staff to resolve this matter. That is what you
hired us to do. In many cases, the debtor has made a
promise to pay this amount either in full or by means of a
"short term" payment plan. The call to you
amounts to a plea for leniency. They are looking to
"Better Deal" their position with you that they
could not establish with the collector. Know that our
people are looking for the fastest possible recovery of your
money. The fastest recovery will always be a result of a
unified stance between your company and ours. If the
debtor can speak with you directly, they will think that they
do not have to deal with the collector who has taken a strong
posture on your behalf. The debtor may also tell you a
different story than they told the collector because the
collector has in all likelihood obtained information beyond
what the debtor claims as the reason for nonpayment.
Q:
What do
I do if I receive a payment from the debtor?
A:
Contact our office immediately and make us
aware of the payment and if possible fax a copy of the check
to us. Our strategy depends upon two key points.
Having accurate and up-to-date information and having
information the debtor would prefer we not have. If the
check is postdated, you should forward it to our
offices. If not you should deposit the check into your
account and we will account for the payment on the debtor's
file and notify the debtor that future payments must be
directed here. Please note that our staff reviews our
client trust account several times daily so we know when
payments are being returned without having to wait for
notification by mail. Returned payments can then be
addressed and corrected quickly. That is why it is
critical that our office handles payment of the debt.
Q:
When
should I place an account?
A:
Where placement of any account is a
discretionary issue, there are several key issues to
consider. The length of time the client has been doing
business with you, the reasons you are given for non-payment,
whether or not they are still buying from you and NSF checks,
just to name a few. The myriad of factors involved is
why we offer options as to our level of approach. We
strive at all times to be cognizant of and meet the needs and
expectations of our clients. There will always be
problem accounts that won't pay until forced to do so.
However the "Professional Audit" approach is an
excellent tool to resolve past due accounts and still maintain
an amicable client/vendor relationship. The general
"rule of thumb" is, that when you reach a point
where your best efforts are no longer producing satisfactory
results, get the file to us...
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