RECOVERY

A company must establish a specific policy for management of their accounts receivable from day one through the time that the account becomes delinquent. It is imperative to have an action plan.
During the past two years, The United States economy has become sluggish and has fallen into a recession. Time is of the essence in placing an account for collections. The older an account becomes, the lower your chances of recovery. It is critical to take proactive actions once an account receivable ages sixty to ninety days past its due date.

The chart below shows the United States Government Statistics set forth by the Department Of Commerce. The age of each account determines their value.

*As the age of the debt increases the success of the collection decreases.

SETTLEMENTS

Settlements are accepted only with your authorization. Legal actions are initiated only with your authorization. All funds recovered by us are placed in a trust account; disbursements are made on or before the tenth day of the month following when said monies are collected. The checks you will receive will be for the full amount recovered less our fee which is a previously agreed upon percentage. In addition you will receive monthly a status report of all outstanding files.

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COLLECTION PROCEDURES

We accept placements via the web, fax or mail, whichever you prefer. All accounts are processed the same day they are received. We will provide you with an acknowledgement within forty eight hours of receipt.

Our collection staff will mail a series of letters and contact the debtor by telephone until they are able to effectuate a settlement in full, or arrange an amicable payment plan. All delinquent accounts are reported to a national credit bureau on a monthly basis.

This derogatory information will remain on a debtor’s credit report for a period of up to seven years. This information will alert any credit grantor when an individual applies for credit. This provides leverage in collecting the outstanding debt.

Furthermore, there are circumstances in which we will be unable to recover your outstanding receivables through conventional collection methods. However, if we have been successful in obtaining a valid address and we have determined that the debtor has assets, we will recommend forwarding your file to one of our attorneys. We are affiliated with a network of local and national bonded collection attorneys throughout the country who will pursue your collections through litigation.

We emphasize the pursuit of assets through post judgment liquidation. Our attorney’s do not stop once a judgment is obtained. Our firm does not charge any additional contingency fee when litigation is required. You will only be required to pay up front filing fees, process server fees and any ancillary fee which is associated to litigation. All fees will be paid directly to the appropriate party.