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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... |
