As an alternative to our Pre-Collection stage, we have an immediate collections route. This means that our client may opt to have us immediately contact the debtor by telephone and other means, in order to put a little more pressure and gain a more rapid conclusion to the matter. Our professional team will guide you through the pros and cons of bypassing the pre-letter stage, so you have the opportunity to make the most cost effective decision possible based on the history of that particular account.
Below is a summary of how our Direct Collection stage works:
- A direct for collection account means:
- Our clients have chosen to bypass the Pre-Collection letter stage; or
- The Pre-Collection letter stage has expired.
- At this point, the commission fee is added to the assigned balance, creating a strong leverage and a reasonable chance that our clients will recover most of their costs. A traditional collection agency is unable to ask for costs.
- Our clients are responsible to pay commission (only on amounts recovered or credited) once direct collection commences.
- Our team commences immediate written and verbal contact with the debtor. Our clients will enjoy live access to our efficient and informative software in order to review notes on all accounts assigned. Our clients also have the luxury of placing new accounts directly into the software system in real-time. Kindly contact your Client Development Consultant for a full tour of our state of the art on-line software.
- Unsuccessful negotiations will be reported to our clients in a timely manner. We will then discuss options on how to properly proceed. Litigation will only commence upon full written instruction (retainer agreement) from our clients. A litigation account will be worked promptly after receipt of the proper documents.
- Our experienced commercial collection staff understand urgency, which in most cases leads to a successful, out of court conclusion. The same urgency is also required from our clients (in their best interest) to get an overdue account assigned to our office at the right time. It is crucial and profitable for our clients to focus on reducing their proportion of complete write-offs.