10 Reasons You Should Partner with Summit A*R for Your Debt Collection Needs
Categorised in: Our Blog
With consumers accumulating debt, more businesses are turning to debt collection agencies for help. Partnering with debt collectors not only helps them recover lost revenue, but it frees up valuable resources, which are used to improve profitability.
Considering that most Americans are in debt, it’s not surprising that there are over 4,000 debt collection agencies in the United States. For businesses like yourself, picking the right one to partner with can be a challenge.
We’re proud to say that Summit A*R is one of the best debt collection agencies in the United States. Here are ten excellent reasons why you should partner with us:
1. Our Ethics
At Summit A*R we follow a “P.H.D. Philosophy” (Preserve Human Dignity). We treat your debtors with kindness and respect, allowing us to recover what you’re owed without alienating the customers and vendors who are vital to your business.
2. Our Methods
Most people are willing to pay their debts when treated with dignity and respect. And when presented with manageable options, many are happy to work with us. However, some debtors that don’t want to pay may go into hiding.
We have a skip-tracing department that’s led by a highly skilled team with cutting edge resources at their disposal. That’s why we’re more successful at locating debtors and their assets than other debt collection agencies and in-house collections departments.
After locating your customer, we deal with them sternly yet respectfully. Many customers cooperate with us when they realize that their credit rating could be adversely affected. Unlike your in-house collection department, we can report delinquent customers to credit bureaus.
3. Our Success Rate
It’s a misconception that aggression and underhanded tactics lead to success in the debt collection industry. When some customers are treated aggressively, they only grow more stubborn. Although we are a friendly and ethical debt collection agency, our success rate is twice the industry average in many cases. When you partner with Summit A*R you get to have your cake and eat it too.
4. Our Full-Service Litigation Services
We can confidently say that our collection programs can easily manage most accounts. Our team is skilled, experienced, and determined. Using our proven methods, we usually get the job done. However, a small percentage of accounts can only be recovered through legal action.
Our full-service litigation program is a professional and effective solution. Research into the debtor’s financial situation is conducted by a licensed private investigator. Afterwards, we conduct a cost-benefit analysis to determine the feasibility of legal action.
If we feel that full litigation is the best solution, we ask for your consent to move forward. The final decision is most certainly yours. On the other hand, if we feel that the likelihood of recovery through legal action is low, we return the account to our collections department for more effort.
5. Our Resource Center
Our resource center provides our customers with valuable information on local regulations and statutes of limitations. This is important because your debtor may have skipped town. It’s always wise to work with a collection agency that understands the subtle variations in collection laws from state to state to improve your chances of recovering revenue.
At Summit A*R, we are well-versed in local guidelines, from the time restraints in Alabama to the complex collection laws of Washington. Get in touch with us today to gain a better understanding of state laws.
6. Our Pre-collection Services
You can also use Summit A*R for in-house pre-collection services. We will represent you professionally and effectively so that you can minimize losses from late payments. By outsourcing billing, telephone follow-ups, and other such work to us, you will free up your resources and improve your business’s profitability.
7. Our Platform Facilities
You have several advantages when you partner with Summit A*R. Many of these benefits are available on our platform. For example, you can use our accounts receivable turnover calculator to determine how quickly your invoices turn into actual money.
On the same page you can use a ‘day sales outstanding calculator’ to measure the time it takes to collect your accounts receivable, an ‘accounts receivable aging calculator’ to check how many of your accounts are seriously delinquent, and a ‘days of inventory calculator’ to understand how long you have before you exhaust your inventory.
8. Our Charges
Many debt collection agencies charge exorbitant fees up front and demand a certain number of accounts before they agree to work with you. At Summit A*R our percentages are transparent, and we work on a contingency basis; we only get paid when you get paid. What’s more, we don’t have quotas. Get in touch with us to learn more about our fees.
9. Our Experience
Since we started in 1996, we have seen many debt collection businesses come and go. We have thrived for 23 years in the business because of our professionalism, skill, and adaptability. Our experience has allowed us to deal with a variety of unique situations. And we have come to realize that collections is in our blood.
We also have many clients from numerous industries. This includes medical, dental, veterinary, real estate, commercial and more. Our experience gives us a unique understanding of each industry’s needs.
10. Our Reputation
We are proud to be affiliated with organizations like ACA International, American Association of Healthcare Administrative Management, and the International Association of Commercial Collectors to name a few.
These organizations give their members access to a wealth of resources that improve their effectiveness. What’s more, they also expect its members to abide by a strict code of ethics.
Various renowned companies trust us with their debt collection needs because of our reputation. And on our website, you can find numerous testimonials from our customers. What’s more, we’re proud to have an A+ rating from the Better Business Bureau (BBB). Such a high rating is only given to the most reputable businesses.
These are ten good reasons why you should partner with us for your debt collection needs. Remember, debt becomes harder to recover with time. So, get in touch with us today through phone or email. You can also request a callback through our website and someone from Summit A*R will reach out to you to discuss the specifics of your case.