Learn Why We’re a Better Option Than Your In-House Debt Collection Department
Trying to recover your revenue from a debtor can be challenging. Not only does this process require time and resources, but it can feel frustrating to not get paid for products or services rendered. The methods you use to recover revenue usually depend on the size of your business.
For example, if you’re a sole proprietor, such as a landscaper, artist, or writer, you will try to recover the payment yourself through emails, phone calls, and letters. As a small business owner, you may either do the same or pass the account to your in-house collection department. If you’re the A.R. manager at a larger company, you may also try to utilize your in-house collection department.
Regardless of the size of your business, whether you’re interested in consumer or corporate debt collection services – we believe that we’re a better option than your in-house debt collection department. Here are a few compelling reasons why you should partner with us:
#1 We’re More Experienced
At Summit A*R, we’ve been in the debt collection business for over 23 years. We offer consumer, commercial, medical, dental, employee reimbursement, commercial tenant, self-storage, veterinary, wireless chargeback, and pre-collection services.
Our staff are friendly, trained, professional, and have worked for many years across a variety of industries. Over the years we’ve developed valuable relationships across the industry that make us more effective.
#2 We’re More Effective
At Summit A*R we boast twice the national recovery rate because of our resources, experience, and methodology. Many small business owners and in-house collection departments cut their losses and write off debts to free up time and resources. On the other hand, we’re proud to have recovered some particularly difficult-to-collect debt over the years.
While we’re happy to review any account, we believe that you should partner with us as early as possible. Remember, studies suggest that debt becomes harder to recover with time.
#3 We’re More Diplomatic
It’s easy for small business owners to grow frustrated when their customers stop responding to their phone calls, emails, and letters. This is especially true because small business owners work around-the-clock performing multiple tasks to help their enterprises thrive. When valuable payments are clogged in the pipeline, their entire business can feel the pressure.
Threats and harassment in this situation are usually counterproductive. Not only does this make it harder to recover revenue, but it can damage a valuable business relationship. Your debtor could become your best customer in the future. Moreover, it could hurt your reputation. Word travels fast in the small business community.
That’s why at Summit A*R we believe in our “P.H.D. Philosophy” (Preserve Human Dignity). In other words, we take a friendly and diplomatic approach to debt collection and treat consumers and people behind companies with dignity and respect. We’re also accredited by the Better Business Bureau and have an A+ rating.
As we mentioned earlier, our stern but friendly approach is highly effective. When you use our collection agency services – you can successfully recover revenue and maintain positive relations with your clientele.
But don’t take our word for it. You can visit our website to read hand-written testimonials from our valuable clients and debtors.
#4 Our Name Carries More Weight
If your customer has been ignoring your invoices, then it’s unlikely that a demand letter on your company’s letterhead will have more effect.
On the other hand, our name carries weight. After we take over the account, we start with a campaign of demand letters and phone calls. Many debtors clear their dues when they realize that a reputable collections agency like Summit A*R is involved.
#5 We Can Report Debtors
Consumers value their credit rating. If a debtor doesn’t respond positively to our demand letters and phone calls, unlike your in-house collections department, we have the power to report them to the major credit bureaus.
Customers are usually more cooperative when they realize that their credit rating is on the line. Remember, even businesses value their credit ratings. With poor ratings, they may be unable to secure loans or do business with other companies.
#6 We Can Find Debtors
Many businesses write off debts when they can’t reach customers. This is because they don’t have the resources or experience to trace them. At Summit A*R, we boast a state-of-the-art skip tracing department. This department has a wealth of resources and is led by an experienced private investigator. That’s why we have a higher find-rate than many other debt collection agencies.
If your customer has skipped town, then give us a chance. We can find delinquent customers and their assets even if they’ve crossed state lines. What’s more, we’re knowledgeable about state collection laws across the country.
#7 We Can Take Your Debtor to Court
If our collection program has been unable to collect your revenue, we can use our full-service-litigation program. Here, our licensed private investigator completes a thorough financial investigation of your debtor. Further diligence is performed in case of insolvency or bankruptcy.
After the cost-benefit analysis is complete, we can with your written approval pursue the matter in court if we feel that the chances of recovery are good.
At Summit A*R, we believe in integrity and accountability. We work with you on a contingency basis and don’t charge a cent until your revenue has been recovered. Once your money is collected, it’s deposited into a state-regulated account, and sent to you on the 10th of the following month. What’s more, we don’t demand a certain number of accounts to partner with you. You can choose Summit A*R for your debt recovery needs regardless of the size of your business.
These are some of the reasons why we’re a better option than your in-house debt collection department. So, reach out to us today. You can find many useful financial calculators on our website. You can email us, phone us, or request a callback. Our representatives are professional, helpful, and aren’t pushy.
Once you sign up with us, you’ll be assigned an individual account manager who can address your questions or concerns. You will also receive monthly reports and can view the status of your account at anytime online.
Categorised in: Our Blog
This post was written by Summit A•R