Debt Collection FAQ (Page 2) |
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I am interested in finding a collecting agency that can provide me consultation on how to write a debt collection letter that I can use during my internal collection efforts. Does DRS & Associates provide that service?
Yes, We are committed to helping our clients maximize their internal collection results. As part of this commitment, our web site includes a Client Resource Center that contains a number of FREE resources for our clients including tips on how to write a debt collection letter, sample collection letters and call scripts, and much more! |
Ideally, I would like to find a collecting agency that does more for me than just work the accounts I assign. Specifically I'm interested in a collection agency that can offer me debt collecting techniques that I can use during my internal collecting efforts. Does your agency provide this type of assistance?
Absolutely! In fact, our online Client Resource Center offers our clients a suite of FREE resources including tutorials on debt collection techniques, sample collection letters and sample call scripts... all designed to assist you in recovering more for your money in-house. |
My company is considering a proposal for factoring accounts receivable. If we do this does that mean that we would no longer have a need for a collection agency?
Not necessarily. Many factoring companies have provisions within their contract that establish annual deductibles that have to be met before accounts are covered. In such cases you would want to have an agency partner to assist you with the collection of these accounts. Other still may apply stringent credit qualification that would deny coverage for "marginal" accounts. As a result, many companies that are sales focused might choose to sell to these accounts despite the fact that their balances will not be covered by your factoring agreement. Again, in these cases an agency partner would be in a position to assist if any of these marginal claims defaults on their account balance. |
As a client would I have access to DRS & Associates collection agency database so I can check to see if any of my current customers have a history of collection activity?
Absolutely! In fact, many of our customers also include these searches into their pre-extension checklists when establishing the credit worthiness of all new customers. This service is offered free of charge to our clients and is as simple as contacting your sales associate with the information on your customer. Additionally, we offer whole array of Credit Services Reports for both initiating a business relationship as well collecting debts and/or judgments. |
Our company is growing rapidly and is beginning to experience delinquent customers for the first time. Is there a resource available to us that would help us identify different debt collection tools that we could incorporate into our internal collection efforts that would minimize our exposure to bad debt?
There are a number of debt collection tools and strategies available to our clients that are located in the Client Resource Center of this web site. |
Our company currently has a substantial number of delinquent customers, some of which have balances that have aged substantially, while others have balances that are not as old. Is there some type of accounts receivable analysis that can be performed to help us determine the most appropriate collection strategy for our situation?
It is important to realize that the appropriate cure for delinquent accounts can be as diverse as the individual reasons behind the delinquency in the first place. Often times the most appropriate starting point is to conduct a comprehensive accounts receivable analysis of your entire aging as you've suggested above. DRS & Associates provides this service free of charge to its clients. You can contact your DRS sale associate directly to learn more about the benefits of allowing us to perform an accounts receivable analysis for your company. |
