The vast majority of debtors pay a collection agency immediately, or agree readily to a short-term repayment schedule in order to preserve their credit reputation.
In the event that amicable resolution cannot be achieved, the debtor can be immediately placed or proceed with legal actions, many times in the debtor’s immediate locale, with Creditor’s Rights Attorneys.
Employing the services of a professional collection agency permits more productive use of staff time.
Statistically, more than 25% of all 90-day accounts never get paid and the rate rises as the debt ages. The age of an account has a direct relationship to the chances of recovery, thereby making it imperative that claims be placed as close to the 90-day interval as possible to avoid the law of averages…thus maximizing the collectability of the claim resulting in minimizing lose revenue to our client.
COLLECTIVITY can assist you with your credit reviews, reviewing and making suggestions to the current information they obtain, thereby increasing the percentage of collections should a receivable have to be turned over for collection. Having the proper documentation many times makes the difference between success and failure.