CarlsonTownley406
Bad debt collections is the final stage of the revenue cycle method. These are your toughest accounts that have ignored all prior collection attempts. This is typically much less than 3 % of your total accounts receivable and are great candidates for debt collection agency services. All accounts are scrubbed for accurate data by way of national information bases identifying if your customer is deceased, has filed bankruptcy, changed addresses, or telephone numbers. The information is further analyzed by means of specialized data analytics making confident your accounts get the focus they deserve for the maximum return. At this stage the customer is broken down into 4 categories:
These that can pay Those that can't pay These that want to pay Those that refuse to pay
All debt collection efforts are in compliance with state (e.g. California, Nevada), and federal regulations. Specialized agency collection letters and prompt telephone calls properly communicate the urgency of payment. Unpaid accounts are reported to all 3 main credit reporting organizations.
Experian Equifax TransUnion the link