IF AFTER READING THE POSTS YOU WOULD LIKE TO TAKE ADVANTAGE OF THE RECOMMENDATIONS AND TO LEVERAGE THE PROFIT RECOVERY VALUE PROPOSITION BELOW THEN CONTACT US:



1) Best-in-class long-term reliable recovery rate from reasonably aged debtors - 56% avg. if submitted by 90 days aging.

2) Cost effective flat fee - @$10 per debtor account.

3) Quick recovery - 40 days.

4) Account unique debtor pursuit methods - 1st party as if we are your employee or 3rd party as an agency with both diplomatic or intensive approaches by account.

5) Performance guarantee on recovered dollars.

6) Legal ability to nationally pursue debtors in the United States - licensed, bonded, and/or located in all 50 states.

7) Isolation from liability due to recoverer actions - contractual hold-harmless clause.

8) High technology secure 24 hour & 7 day a week user-friendly client internet interface - supports debtor submission manually or by file, debtor status inquiry, and report generation.

9) Excellent personal sales and service support - offices in proximity to all clients and debtors.

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All opinions expressed on this blog or the referenced Twitter account tweets are solely opinions and do not reflect the opinions of any company the author may be representing or its parent company. You should not treat any opinion expressed by the author as a specific inducement to take a particular profit recovery, debt recovery, or collection action or follow a particular strategy, but only as an expression of opinion. The author’s opinions are based upon information the author considers reliable, but neither the author or any company the author may be representing or its parent company warrant its completeness or accuracy, and it should not be relied upon as such. The author and any company the author may be representing or its parent company are not under any obligation to update or correct any information provided on this blog or in the referenced Twitter account tweets. The author’s statements and opinions are subject to change without notice. No part of the author’s compensation from any company the author may be representing or its parent company is related to the specific opinions expressed.

Average performances expressed are not indicative of future individual results. Neither the author nor any company the author may be representing or its parent company guarantees any specific outcome other than that contractually expressed when a client signs up for service. You should be aware of the real risk in following any strategy discussed on this blog or in the referenced Twitter account tweets. Strategies discussed may fluctuate in cost and results. Clients may get back less than owed from debtors. Strategies mentioned on this blog or in the referenced Twitter account tweets may not be suitable for you. This material does not take into account your particular profit recovery, debt recovery, or collections objectives, financial situation, or needs and is not intended as recommendations appropriate specifically for you. You must make an independent decision regarding strategies and information mentioned in this blog and in the referenced Twitter account tweets. Before acting on information in this blog or in referenced Twitter account tweets, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or legal adviser.




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Friday, November 27, 2009

Demand Good Communication from Your Collection Agency



After reading Article #1 titled "Is Your Business Owed Money?" in my series of "Recover Your Business Profits" blog posts, your business should have concluded to use a third party which is a profit recovery company to free up those profits which are tied up in late past due accounts receivable.

Another critical question that must be asked before selecting which profit recovery company to use is, "How excellent is its communication capability?"

The level of communication excellence should be determined based upon:
     1) its ability to work bi-directionally
     2) its technology
     3) its accessibility
     4) its flexibility

On point 1), insure the profit recovery company has the ability not only to accept submitted debtor information from the creditor but just as importantly has the ability to supply needed debtor pursuit status back to the creditor. This debtor pursuit status should include information such as whether the debtor is in bankruptcy, if the debtor address is good or if it has changed, what the recovery phase (written, verbal, or litigation) and step (how many letters have been sent or calls have been made) is, if the debtor has contested the recovery, if the debtor has made partial payment, etc.

On point 2), insist that the profit recovery company have an internet based primary creditor interface for debtor information submission and debtor status monitoring. It is fine if a secondary option exists in a paper or phone format if you are one of those few creditors that do not have internet capability. However, if you do not have internet access as a creditor, it is highly recommended you do so to reap the great benefits. If you are not comfortable with the internet, hire someone full-time or part-time to assist.

On point 3), demand that you as a creditor have the ability to submit debtor information and to request debtor status from the profit recovery company 24 hours per day and 7 days per week. It should be noted that one of the biggest complaints heard from creditors about their collection agencies is that they call their agency and have to leave a message inquiring about a debtor's status and no one ever gets back to them! This really goes hand-in-hand with point 2) since an internet interface is always available per the schedule of you the creditor. An internet creditor interface eliminates the need for information to be "pushed" from the collection agency to you since it is simply "pulled" from the profit recovery company whenever you want it.

On point 4), confirm that debtor information can be submitted to the profit recovery company on a single debtor basis via manual entry or on a multiple debtor basis via a batch file. Also confirm that batch files can be submitted in a variety of formats (ie. Excel, Access, ASCII, Comma De-limited, etc.) so it is compatible with your creditor's business accounting software or ERP system. Make sure that you the creditor can also flexibly select the format in which the debtors are contacted in writing based upon the debt specifics (unpaid invoice, bounced check, un-returned equipment, etc.). Check if there is flexibility in the manner in which the debtors are contacted so that it can be done diplomatically if you the creditor want to retain the debtor as a customer or intensively if you never care to do business with the debtor again.

So as you can see, you as a creditor must select a profit recovery company that has the ability to communicate with you in a bi-directional, high technology, accessible, and flexible fashion.

To inquire about how you can work with a profit recovery company that has high technology 24 hour 7 day a week accessible client internet based interface for debtor upload and recovery status that has a flat fee of @$10 per late past due account and an average 56% recovery rate in 40 days for accounts turned over before they exceed 90 days late,

call us at:

818-710-0244


Series: "Recover Your Business Profits"
Article: #5 "Demand Good Communication from Your Collection Agency"

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